#NFT trading volume is up, but buyer count is down.#
Hot Topic Overview
Overview
While NFT trading volume rose 10.7% week-over-week to $155.4 million this week, market participation declined significantly. The number of NFT buyers dropped 81.79% to 122,806, while the number of sellers fell 73.24% to 104,090. This suggests that despite the increase in trading volume, the number of buyers and sellers participating in the market has significantly decreased, which may indicate that the market is going through an adjustment period or that market participants are waiting for a more opportune time to trade.
Ace Hot Topic Analysis
Analysis
NFT trading volume has recently seen an upsurge, but the number of buyers has fallen drastically, raising concerns in the market. According to CryptoSlam data, NFT trading volume this week increased by 10.7% week-on-week to $155.4 million, but the number of NFT buyers fell by 81.79%, while the number of sellers decreased by 73.24%. Despite a slight increase in the number of transactions, the significant decline in market participants suggests that the surge in volume is not driven by an influx of new buyers but rather large transactions by a few buyers. This phenomenon could be linked to the overall decline in the NFT market's hype and some investors seeking to cash out. Notably, similar trends have been observed in NFT trading volume on the Ethereum and Bitcoin networks, with a significant drop in buyer numbers and an increase in trading volume. This indicates that the NFT market is undergoing a period of adjustment, with market participants cautiously observing and waiting for new investment opportunities.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume increased, but the number of buyers declined significantly, indicating that market participation decreased, with increased trading volume but fewer buyers.
The growth in NFT trading volume was mainly driven by the trading volume of a few projects, such as Pudgy Penguins and BRC-20 NFTs.
NFT trading volume on both the Ethereum and Bitcoin networks increased, but the number of buyers declined significantly.
Some new trends have emerged in the NFT market, such as the rise of BRC-20 NFTs, but overall market participation remains low.