The NFT ecology is facing serious shrinkage. As of July 7, the total market value of NFTs on Ethereum alone dropped to $5.95 billion, a drop of more than 30.5%; the total transaction volume dropped to $9.87 billion, a drop of more than 68.9%; the number of traders also decreased to 1.418 million, a drop of up to 17.5%. This data shows the popularity of NFTs in the market and the continued loss of funds. #NFT WEB3