#NFT trading volume is rising, but buyers are declining.#
Hot Topic Overview
Overview
While NFT trading volume rose 10.7% week-over-week to $155.4 million, the number of market participants dropped significantly. The number of NFT buyers fell 81.79% to 122,806, and the number of NFT sellers also declined by 73.24% to 104,090. This suggests that while NFT trading volume has increased, the number of people participating in trades has significantly decreased, which could indicate the market is going through a period of adjustment or that the hype around NFTs is gradually waning.
Ace Hot Topic Analysis
Analysis
NFT trading volume has recently seen an increase, but the number of buyers has significantly decreased, presenting a paradoxical phenomenon of "increased trading volume, decreased participation." According to CryptoSlam data, NFT trading volume increased by 10.7% week-over-week to $155.4 million, but the number of NFT buyers decreased by 81.79%, and the number of sellers also decreased by 73.24%. Despite a slight increase in the number of transactions, overall market participation has declined significantly. This phenomenon indicates that the growth in NFT market trading volume may not be driven by the influx of new buyers, but rather by large transactions made by a few buyers or transactions between NFT holders, rather than new users entering the market. This phenomenon also reflects that the NFT market is currently in a relatively quiet state, with market participants' enthusiasm for NFTs declining. The market needs new growth points and attractions to attract more users.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume rose, but the number of buyers and sellers declined significantly, suggesting that the increase in volume may be driven by a few large transactions rather than an increase in widespread market participation.
The decline in the number of NFT market participants may reflect a cooling of market enthusiasm, increased investor caution, and some investors shifting to other crypto assets.
Despite the increase in trading volume, the significant decline in the number of buyers suggests that the NFT market may be undergoing a structural adjustment, with some investors potentially selling NFTs, leading to an increase in volume but a decline in the number of buyers.
The strong performance of some NFT projects, such as Pudgy Penguins and BRC-20 NFTs, indicates that there are still hotspots in the market, but the overall decline in market participation suggests that the NFT market remains volatile.