#NFT market trading volume hits new low#
Hot Topic Overview
Overview
The NFT market experienced a challenging year in 2024, with trading volume and sales numbers plummeting to their lowest levels since 2020. Annual trading volume fell by 19%, while sales volume declined by 18%. While the first quarter witnessed a surge in trading volume, the third quarter saw a drastic drop to $1.5 billion, with a slight recovery in the fourth quarter. Despite these fluctuations in trading volume, overall market participation declined, highlighting the challenges facing the NFT market. NFT platforms like Blur gained market share with their zero-fee trades and airdrop campaigns, while OpenSea grappled with regulatory hurdles and declining market sentiment. Although sales saw a rebound in November, the overall trend indicates that affordability, accessibility, and utility will be key drivers for future growth in the NFT market.
Ace Hot Topic Analysis
Analysis
NFT market trading volume and sales volume in 2024 hit their lowest levels since 2020, with annual trading volume down 19% and sales volume down 18%. Although trading volume rose slightly in the first quarter, it plummeted to $1.5 billion in the third quarter before recovering slightly to $2.6 billion in the fourth quarter. While trading volume fluctuated, overall market participation declined, indicating challenges facing the NFT market. NFT platforms like Blur dominated the market with zero-fee trading and airdrop campaigns, while OpenSea faced regulatory headwinds and declining market sentiment. Despite November sales reaching $562 million, the highest since May, the overall trend suggests that affordability, accessibility, and utility will be key to continued growth in 2025.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT market trading volume and sales volume dropped to their lowest levels since 2020 in 2024, indicating a decline in overall market participation.
Despite rising NFT prices, trading volume fell sharply in the third quarter, recovering slightly in the fourth quarter, indicating volatility in the market.
NFT platforms like Blur have dominated the market through zero-fee trading and airdrop campaigns, while OpenSea has faced regulatory and market sentiment challenges.
Affordability, accessibility, and utility will be key factors for continued growth in the NFT market in 2025.