#NFT trading volume is up, but buyers are down significantly.#
Hot Topic Overview
Overview
While NFT trading volume rose 10.7% week-over-week to $155.4 million, the number of market participants declined significantly. NFT buyers decreased by 81.79% to 122,806, and NFT sellers fell by 73.24% to 104,090. This suggests that while NFT trading volume is increasing, it is being driven by a small number of buyers, leading to decreased market participation and trading activity.
Ace Hot Topic Analysis
Analysis
NFT trading volume has recently surged, but this phenomenon is not driven by increased market activity, but rather by large-scale transactions made by a small number of buyers. Data shows that NFT trading volume increased by 10.7% week-over-week to $155.4 million, but the number of NFT buyers has fallen sharply by 81.79%, and the number of sellers has also declined by 73.24%. This means that despite the increase in trading volume, the number of market participants involved in trading has decreased significantly, and overall market activity is not high. This phenomenon shows that the NFT market is currently in a rather quiet state, with large-scale transactions by a small number of buyers driving up trading volume, but not necessarily representing a general market rebound.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume has risen, but the number of buyers and sellers has fallen sharply, suggesting an increase in trading activity but a decline in market participation.
The growth in NFT trading volume has been driven primarily by a few hot projects, such as Pudgy Penguins and BRC-20 NFTs.
NFT trading volume on both the Ethereum and Bitcoin networks has grown, but the number of buyers has declined sharply.
Despite the growth in NFT trading volume, the decline in the number of market participants suggests that the NFT market may be going through an adjustment phase.