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Bloomberg: NFT Market Sees Fifth Consecutive Quarter of Decline, Trading Volume Shrinks Significantly
Summary: According to Bloomberg, the NFT market, once a hot area for cryptocurrency traders and enthusiasts, is now experiencing a downturn. The trading volume in this once booming sector has declined for five consecutive quarters. According to data compiled by DappRadar, the total trading volume of NFTs in the second quarter dropped to $823 million, compared ...
According to Bloomberg, the NFT market, once a hot area for cryptocurrency traders and enthusiasts, is now experiencing a downturn. The trading volume in this once booming sector has declined for five consecutive quarters.
According to data compiled by DappRadar, the total trading volume of NFTs in the second quarter dropped to $823 million, compared to $4 billion in the same period last year. Despite a 19% decrease in NFT trading volume in 2024, marking the worst year in the sector's history, this year's data indicates that the market slump has not yet bottomed out.
These numbers also reflect that digital assets represented by collectible cartoon avatars and viral memes are gradually losing their appeal.
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Link: Bloomberg: NFT Market Sees Fifth Consecutive Quarter of Decline, Trading Volume Shrinks Significantly [Copy]
