#NFT trading volume has dropped by nearly 20%.#
Hot Topic Overview
Overview
NFT market trading volume and sales volume both declined in 2024, reaching their lowest levels since 2020. According to a report by DappRadar, NFT trading volume in 2024 fell by 19% compared to 2023, reaching $13.7 billion, while sales volume declined by 18%, slightly below 50 million. While trading volume briefly increased by 4% in the first quarter of 2024, reaching $5.3 billion, it subsequently plummeted in the third quarter to $1.5 billion before seeing a slight rebound to $2.6 billion in the fourth quarter. Overall, the NFT market performed poorly in 2024, making it one of the worst years since 2020.
Ace Hot Topic Analysis
Analysis
NFT trading volume and transaction counts both declined in 2024, dropping by 19% and 18% respectively compared to 2023, reaching their lowest levels since 2020. While trading volume saw a brief 4% surge in the first quarter of 2024, reaching $5.3 billion, it quickly fell to $1.5 billion in the third quarter and slightly recovered to $2.6 billion in the fourth quarter. This indicates the volatility of the NFT market, where despite reaching historical highs in trading volume and transaction counts in 2022, the market is currently underperforming, with 2024 overall marking the worst year since 2020.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume and transaction count both declined by nearly 20% in 2024, hitting their lowest levels since 2020.
The NFT market has seen significant fluctuations. Trading volume grew by 4% in the first quarter of 2024, but fell to $1.5 billion in the third quarter and rebounded to $2.6 billion in the fourth quarter.
NFT trading volume grew by 4% in the first quarter of 2023, but the momentum was short-lived, and trading volume continued to decline afterwards.
2022 was the most prosperous year for the NFT market, with trading volume reaching $57.2 billion and transaction count reaching 121.7 million.