NFT Bubble Continues To Burst As Marketplace Volume Plunges 99% in 90 Days

Peter_Brosdahl

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Signs that the NFT bubble is continuing to burst come as the OpenSea marketplace volume plunged by ninety-nine percent in just 90 days. NFTs exploded onto the blockchain scene in 2021...

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Brian_B said:
Raise your hand if you are shocked.
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I'm shocked, after all the crypto bubble still refuses to die. The only difference between crypto and NFTs is that the former has no JPEGs. It's "worth" is still arbitrary with nothing behind it. The only reason it has value is because some idiots believe it.
 
MadMummy76 said:
I'm shocked, after all the crypto bubble still refuses to die. The only difference between crypto and NFTs is that the former has no JPEGs. It's "worth" is still arbitrary with nothing behind it. The only reason it has value is because some idiots believe it.
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Info like this should hasten the demise of many ****coins. If the grandfather of them all has this problem, one can only imagine how bad it is with the rest of them.
 
Brian_B said:
Remember, Crypto is more secure!
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No government oversight and regulation was the biggest pro 'argument' of cryptobros.
Crypto was a scammers paradise for a long time, but now slowly authorities seem to be starting to investigate scams in that space.
 
MadMummy76 said:
No government oversight and regulation was the biggest pro 'argument' of cryptobros.
Crypto was a scammers paradise for a long time, but now slowly authorities seem to be starting to investigate scams in that space.
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There have been a lot of supposed benefits. For a currency that is 100% traceable and verifiable against a blockchain the fact that it can be stole is still mind boggling to me.
 
Guess everyone wanting in on the craze and flooding the market destroyed it.
 
Brian_B said:
There have been a lot of supposed benefits. For a currency that is 100% traceable and verifiable against a blockchain the fact that it can be stole is still mind boggling to me.
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Most crypto scams are rugpulls and investment scams. Meaning the victims willingly give their cryptocurrency to the scammers.

It's not 100% traceable either, there are services specifically to launder crypto, but afaik some of those have been scrutinized and forced to shut down recently.

Denpepe said:
Guess everyone wanting in on the craze and flooding the market destroyed it.
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The wild west nature of it is what's destroying it, and good riddance.
 
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