The sharp drop in Ether gas fees in 2022 comes amid reduced speculation and interest in NFTs and DeFi during the first three months of this year.
Does the future of DeFi still belong to the Ethereum blockchain?
In terms of the last 30 days, DappRadar data shows that nine out the 10 top marketplaces on Ethereum have seen decreased trading volume, with first-placed LooksRare and second-placed OpenSea both shedding 78.27% and 34.75% apiece. Other notable losses include SuperRare and Rarible with 73.29% and 80.65% each.
Ethereum-based DeFi too is also suffering too, with eight out of the top 10 projects in all-seeing red over the past month in terms of total value locked and native asset token price.
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