NFT trading volume down 63% since December as AI dApps become fastest growing segment
AI-generated content thrives
According to DappRadar's latest report, NFT trading volume has dropped by 63% between December and February—from $1.36 billion to $997 million in January, and further down to $498 million in February. However, some collections remain active.
Despite the market downturn, Pudgy Penguins sales increased by 25%, while another collection, Doodles, gained traction after announcing its upcoming Solana-based cryptocurrency, DOOD.
DeFi sees sharp declines, but some networks grow
The DeFi sector also faced significant losses, with Ethereum's Total Value Locked (TVL) dropping 27% to $97 billion due to reduced liquid staking activity.
Solana experienced an even steeper 33% decline, bringing its TVL down to $15.4 billion, primarily due to lower trading activity on Raydium and Jupiter.
On the other hand, Berachain TVL surged to $5.05 billion, while Aptos saw a 6% increase, reaching $1.83 billion.
AI-generated content thrives as AI dApps lead Web3 growth
Meanwhile, AI-powered dApps have become the fastest-growing category in Web3. February saw a spike in unique active wallets, with platforms like LOL attracting 5.1 million users (+40%), while Evermoon surged by 988%.
AI-driven NFT collections such as Kaito Genesis are also gaining momentum, with floor prices reaching 7.65 ETH following a partnership with Azuki.
Additionally, AI-generated content is booming—notably, the image creation platform Fractal Visions has scaled production by 721%.
As we wrote, smart digital and AI tools are changing how people and businesses use technology. Whether in gaming or workplace applications, these systems help simplify difficult tasks and support better decision-making.
