February 1, 2023

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Metaverse trading volume plummeted 80% but hype hasn’t decreased

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Metaverse trading volume plummeted 80% but hype hasn’t decreased

Third-quarter trading volume for the top 10 Metaverse projects may have fallen 80% compared to the second quarter, but analytics firm Dappradar suggests that interest in virtual worlds still remains.

The Metaverse sector has been hit with a fair amount of negative press as of late, particularly

DappRadar was forced to defend its metaverse data last week, which had been interpreted to mean that platforms such as Decentraland had less than 40 daily active users.

The firm alsnoted that its user data tool only tracks users’ interaction with a blockchain, usually in the case of transactions, and did not count “non-blockchain-based activities” such as non-spending users.

The Sandbox tweeted on Oct. 10 that it had hit 39,000 daily active users, and 201,000 monthly active users over the previous 30 days.

Decentraland also reported having 8,000 daily active users and 56,697 monthly active users as of Oct. 8.