The level of fictitious transactions on platforms for trading non-fungible tokens (NFTs) based on Ethereum has dropped to its lowest since May 2022. According to experts from The Block, such transactions now account for only 1.8% of the total trading volume.

This decline is attributed to several factors, including proactive measures by marketplaces and a general drop in prices in the NFT segment. As of January 13, 2024, the level of fictitious trading reached a new low, which is also confirmed by Dune's statistics, albeit with some differences.

Wash trading, or fictitious trading, is a type of market manipulation aimed at artificially inflating the value of an asset through its resale between accounts of the same owner. Marketplaces known for high levels of such transactions include LooksRare, X2Y2, Blur, and OpenSea. However, in recent months, most marketplaces have introduced additional measures to prevent such practices.

Platforms like LooksRare and X2Y2 are gradually moving away from certain reward programs, while Blur is attempting to filter out such traders. These measures, along with the overall decline in prices in the sector, contribute to the reduction in the proportion of fictitious transactions.

Thus, the NFT market is showing positive trends in combating manipulative practices, which may contribute to its further healthy development.