Global interest in NFT tokens declined by 70% amid a market slump

High volatility and a sharp decline in the exchange rate of all major cryptocurrencies have affected the interest of the audience in NFTs, according to Google Trends.

The level of interest is demonstrated by the number of Google searches in the context of NFTs, represented by a number from 0 to 100. A value of 0 or close to 0 means that there is practically no interest. A value of 50 means that the term is of interest to a conditional half of the world’s population.

As you can see on the chart, interest has decreased by 74% compared to January.

The trading volume of NFT platforms correlates with these indicators: while the average monthly trading volume in January was 16.5 billion, in May this figure was 4 billion.