Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
The trading volume of wash sales in the Ethereum NFT market accounts for 1.8% of the total trading volume, reaching the lowest level in a year

The trading volume of wash sales in the Ethereum NFT market accounts for 1.8% of the total trading volume, reaching the lowest level in a year

2024/01/17 08:38

The Block reported that the wash trading volume in the Ethereum NFT market has dropped to its lowest level in over a year.

According to The Block Pro's data dashboard, on January 9th and January 13th, wash trading accounted for 1.8% of the total USD trading volume. This ratio is much lower than the 36.2% on January 1st, 2023, and also the lowest point since May 1st, 2022 when it was at 0.35%.

Rebecca Stevens, Senior Research Analyst at The Block, said: "Blur is actively trying to filter out wash traders from their airdrops, which reduces the appeal of wash trading. In addition to some NFT market tokens experiencing a decrease in valuation, this has led to an ongoing decline in overall wash trading."

It is reported that wash trading is a form of market manipulation where individuals trade assets among themselves artificially inflating prices or liquidity.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
All three major U.S. stock indexes closed higher.
2
U.S. stocks closed with the Nasdaq and S&P 500 hitting new record highs, Tesla rose over 3%.

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,421.23
-0.44%
Ethereum
Ethereum
ETH
$4,517.51
-2.24%
XRP
XRP
XRP
$3
-1.32%
Tether USDt
Tether USDt
USDT
$1
-0.02%
BNB
BNB
BNB
$920.79
-1.05%
Solana
Solana
SOL
$234.31
-3.30%
USDC
USDC
USDC
$0.9999
-0.01%
Dogecoin
Dogecoin
DOGE
$0.2669
-4.80%
TRON
TRON
TRX
$0.3446
-1.22%
Cardano
Cardano
ADA
$0.8633
-3.15%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter