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Ethereum News August 9, 2023

Gas consumption in the NFT market based on the Ethereum network fell to a two-year low

Gas consumption in the NFT market based on the Ethereum network is decreasing significantly, falling to the level of June 2021.

Specifically, transaction activity on OpenSea, Blur, LooksRare, Rarible, and SuperRare currently accounts for approximately 1.85% of the total gas consumption of the Ethereum network.

This figure is down significantly from the previous high on January 9, 2022, when NFT transactions on OpenSea alone accounted for 28.69% of Ethereum’s total gas consumption.

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