#NFT trading volume is up, but buyers are down.#
Hot Topic Overview
Overview
While NFT trading volume increased 10.7% week-over-week to $155.4 million, market participation saw a significant decline. NFT buyers decreased by 81.79% to 122,806, while NFT sellers dropped 73.24% to 104,090. This indicates that the volume increase is primarily driven by a few buyers making large transactions, while overall market engagement is shrinking. Both Ethereum and Bitcoin NFT trading volumes saw growth, but buyer numbers declined significantly across both networks. Among the top-selling NFTs this week were SuperRare #37380, CryptoPunks #4757, and Abstract Being.
Ace Hot Topic Analysis
Analysis
NFT trading volume has recently surged, but the number of buyers has significantly decreased, exhibiting a trend of "volume and price increase, fewer participants." Data from CryptoSlam shows that NFT trading volume increased by 10.7% week-over-week, reaching $155.4 million, while the number of NFT buyers dropped by 81.79% to 122,806, and the number of NFT sellers also decreased by 73.24% to 104,090. This indicates that despite the growth in NFT trading volume, the number of buyers and sellers participating in transactions has significantly decreased, resulting in lower market participation. This phenomenon could be attributed to market sentiment fluctuations, inconsistent NFT project quality, and a lack of new growth drivers. Although trading volume is rising, the decrease in buyers is a concern, potentially suggesting that the NFT market is undergoing a period of adjustment, and future trends remain to be observed.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume increased, but the number of buyers decreased significantly, suggesting that the increase in trading volume may be driven by a few large transactions rather than an increase in widespread market participation.
The number of NFT market participants, including buyers and sellers, has declined significantly, which may reflect a decline in market interest or investor caution.
Despite the increase in NFT trading volume, the number of NFT buyers on both the Ethereum and Bitcoin networks has decreased significantly, indicating that market participants' interest in NFTs may be waning.
Some specific NFT projects, such as Pudgy Penguins and BRC-20 NFTs, have performed well, but the overall market trend remains a decrease in buyers, with trading volume concentrated in a few projects.