#NFT trading volume is rising, but buyers are decreasing.#
Hot Topic Overview
Overview
Despite a 10.7% week-over-week increase in NFT trading volume, reaching $155.4 million, market participation has declined significantly. The number of NFT buyers dropped by 81.79% to 122,806, while the number of NFT sellers declined by 73.24% to 104,090. This indicates that while trading volume has increased, the number of buyers and sellers participating in transactions has decreased significantly, potentially suggesting a "whale-driven" trading pattern where a few large transactions drive volume growth, while general user engagement declines.
Ace Hot Topic Analysis
Analysis
NFT trading volume has recently increased, but this growth is not due to increased market activity. Instead, a small number of large transactions have driven the overall trading volume. Data shows that NFT trading volume increased 10.7% week-over-week to $155.4 million, but the number of buyers dropped significantly by 81.79%, and the number of sellers also fell by 73.24%. This means that despite the increase in trading volume, the number of buyers and sellers participating in the transactions has decreased significantly, indicating a clear decline in market participation. This phenomenon suggests that the NFT market is currently in a relatively quiet state, with a few large transactions driving trading volume, but overall market participation is declining. This phenomenon may be related to factors such as low market sentiment, a strong wait-and-see attitude among investors, and a lack of new blockbuster projects in the NFT market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume increased, but the number of buyers and sellers decreased significantly, indicating that the increase in trading volume was driven by a small number of buyers rather than an increase in overall market activity.
The growth in NFT trading volume was concentrated in a few popular projects, such as Pudgy Penguins and BRC-20 NFTs, while other projects performed poorly.
NFT trading volume on both the Ethereum network and the Bitcoin network increased, but the number of buyers decreased significantly, indicating a decline in market participation.
Despite the increase in trading volume, the overall NFT market remains sluggish, with a significant decrease in the number of market participants, indicating a lack of market confidence.