To understand how prevalent the practice has become since the NFT markets emerged, when all of the filters were applied, over $30 billion of NFT trading volume from all time could be linked to wash trading. This number is staggering, though it only represents about 1.5% of all trades that have taken place on Ethereum. If that seems confusing, don’t worry: What it shows is that the majority of trades are legitimate, but happen at a generally lower price than the wash trades, which makes sense, when the point of many wash trades is to artificially inflate the price of an NFT collection.
