ETH: NFT Volume With and Without Suspected Wash Trades
Included with Plus.
NFT volume in dollars each day, before and after removing sales flagged as suspected wash trades.
Why use it. Traders have sold NFTs to themselves to collect marketplace rewards, which makes the headline number look healthier than it is. How to read it. The wider the gap, the more of the day's volume looks artificial.
Calculation. Filter, per token: sales where buyer and seller are the same address, sales between the same two addresses in both directions within seven days, and any token sold three or more times within a day are all flagged. It misses wash trades run through several addresses and can flag genuine quick flips, so treat it as an estimate. Covers sales settled on Seaport (the contract OpenSea and several other marketplaces run on), Blur's exchanges, LooksRare and the CryptoPunks contract, read from their own events on CryptoKeyhole's Ethereum archive node. Sales routed through aggregators settle on these contracts and count once. Sales paid in anything other than ETH, WETH, Blur's pool, USDC, USDT or DAI are left out, and so are CryptoPunks bids accepted, whose event logs no price. History is read newest first and reaches back to January 2022 at the earliest: before that most sales ran through a contract whose events do not say what was sold. Prices in dollars convert to ether at the day's close of CryptoKeyhole's ETH/USD index, and the other way round. The open day is a labelled partial.