There is a small uptick in weekly transaction volumes with volumes on OpenSea rising 31% week-on-week. A large part of this increase is attributable to the BAYC ecosystem NFTs, which saw a large increase in demand after the ApeCoin announcement (see next section). It remains to be seen if we have bottomed out; we will be watching if the trend continues in the coming weeks. Notably, the volumes on Ronin (Axie Infinity) have been steadily decreasing for the past 5 weeks.
