#NFT trading volume drops nearly 20%#
Hot Topic Overview
Overview
NFT market trading volume and sales volume both declined in 2024, falling to their lowest levels since 2020. According to a report by DappRadar, NFT trading volume in 2024 fell 19% year-over-year to $13.7 billion, while sales volume decreased 18% to slightly below 50 million. While trading volume saw a brief surge in the first quarter of 2024, reaching $5.3 billion, it subsequently declined throughout the year, plummeting to $1.5 billion in the third quarter before rebounding slightly to $2.6 billion in the fourth quarter. Notably, 2022 was the best year ever for the NFT market, with trading volume reaching $57.2 billion and transactions totaling 121.7 million.
Ace Hot Topic Analysis
Analysis
NFT market trading volume and sales volume both declined in 2024, reaching their lowest levels since 2020. According to DappRadar's "2024 Dapp Industry Report," NFT trading volume in 2024 fell 19% from 2023 to $13.7 billion, while sales volume decreased 18% to just under 50 million, making 2024 one of the worst performing years since 2020. While trading volume briefly rose 4% in the first quarter of 2024, reaching $5.3 billion, trading volume subsequently declined rapidly, falling to $1.5 billion in the third quarter before recovering slightly in the fourth quarter to $2.6 billion. This indicates the volatile nature of the NFT market, as despite experiencing its best performance in 2022 with a trading volume of $57.2 billion and 121.7 million transactions, the overall market currently displays a downward trend.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume declined by nearly 20% in 2024, reaching its lowest level since 2020.
The NFT market has seen significant fluctuations, with trading volume briefly increasing in the first quarter of 2024 before continuing to decline.
The decline in NFT trading volume in 2024 was primarily driven by a decrease in both transaction count and volume.
The NFT market peaked in 2022, with both trading volume and transaction count reaching record highs.