Wash Trading Volume in Ethereum NFT Market Hits Lowest Since May 2022

Data from The Block Pro's dashboard indicates that the wash trading volume in the Ethereum-based NFT market has reached its lowest level since May 2022. On January 9th and January 13th, wash trading in the Ethereum market accounted for 1.8%, compared to 0.35% on May 1, 2022, and significantly lower than the 36.2% ratio on January 1, 2023. Wash trading is a form of market manipulation where individuals engage in asset trading among themselves to artificially inflate prices or liquidity.