#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 to $155.4 million, market participation has significantly declined, with the number of NFT buyers dropping by 81.79% and the number of sellers declining by 73.24%. This suggests that while trading volume has grown, market activity is decreasing. The decrease in buyer and seller numbers could indicate that the NFT market is entering a new phase, with the future trend remaining unclear.
Ace Hot Topic Analysis
Analysis
NFT trading volume saw an uptick last week, rising from $132.7 million to $155.4 million, a 10.7% increase. However, this surge in trading volume was starkly contrasted by a significant decline in market participants. The number of NFT buyers dropped by 81.79% to just 122,806, while the number of NFT sellers also fell by 73.24% to 104,090. Despite a slight 0.16% increase in the number of transactions to 1,483,044, the combination of increased trading volume and reduced buyers suggests that the NFT market might be experiencing a short-lived rebound fueled by a few large transactions, rather than a true market recovery. This phenomenon could be linked to recent hype and speculation around some popular NFT projects. However, it remains to be seen whether NFT trading volume and participant numbers can sustain their growth as market enthusiasm cools.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume has increased, but the number of buyers and sellers has decreased significantly, suggesting that the increase in trading volume is due to a small number of buyers making large transactions, rather than an increase in overall market activity.
The significant decrease in the number of NFT market participants may indicate that the market is entering a new phase, moving from an early hype phase to a more mature stage.
Despite the increase in NFT trading volume, the number of buyers has decreased significantly, which could signal that an NFT market bubble is about to burst, and the market is entering a period of adjustment.
The growth in NFT market trading volume is mainly concentrated in a few popular projects, such as Pudgy Penguins and BRC-20 NFTs, while other projects have relatively low trading volume.