The weekly trading volume of non-fungible tokens (NFTs) has reportedly reduced to $114.4 million, which falls as much as 98% when compared to the $6.2 billion recorded at the end of January. The trading volume peaked at $146.3 billion in early April before the start of the crypto bear market. The average selling price of NFTs, which is influenced by the plunge in the price of a common cryptocurrency Ether, has also fallen sharply. However, the number of wallets owning at least one of those digital collectibles rises from 3.36 million at the end of January to 6.14 million at the moment.

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