NFT wash trading increases by 126% in February: data By Cointelegraph

The top six nonfungible token (NFT) marketplaces saw a rise in NFT wash trading for the fourth straight month with a total volume of $580 million.

According to a new report from CoinGecko, February 2023 witnessed a 126% increase from the previous month’s volume of $250 million. As for a reason for the jump, the report points to a correlation with the overall recovery of NFT marketplace trading volume, which hit $1.89 billion in February.