NFT sales have plummeted this month due to the recent gasfee price spike for memecoin and ETH.
According to data from DappRadar, NFT transaction volume has reached only $333 million so far this month, making May on track to be the first month in 2023 with transaction volume below $1 billion.
However, the average number of daily unique wallets interacting with NFTs increased by 27% in May compared to April, an increase DappRadar attributes to the buzz around the “Milady Maker” NFT series.