#NFT trading volume drops nearly 20%#
Hot Topic Overview
Overview
NFT market trading volume and sales both declined in 2024, falling to their lowest levels since 2020. According to a report from DappRadar, NFT trading volume in 2024 decreased by 19% compared to 2023, reaching $13.7 billion, while sales volume dropped by 18% to just under 50 million. Despite a brief surge in trading volume to $5.3 billion in the first quarter of 2024, trading volume has been steadily declining ever since, reaching $1.5 billion in the third quarter before experiencing a modest recovery to $2.6 billion in the fourth quarter.
Ace Hot Topic Analysis
Analysis
NFT trading volume experienced a significant drop in 2024, with both volume and transaction count falling nearly 20%, reaching their lowest levels since 2020. According to a report released by DappRadar, NFT trading volume in 2024 reached $13.7 billion, down 19% from 2023, while sales count decreased by 18% to slightly below 50 million. Although trading volume briefly rose to $5.3 billion in the first quarter of 2024, it quickly declined, reaching only $1.5 billion in the third quarter before experiencing a slight rebound to $2.6 billion in the fourth quarter. The NFT market had reached its peak in 2022, with a trading volume of $57.2 billion and 121.7 million transactions, but the market has since experienced significant volatility, with 2024's performance falling considerably short of expectations.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
NFT trading volume and transaction count both fell by nearly 20% in 2024, reaching their lowest levels since 2020.
The NFT market has seen significant volatility, with trading volume briefly increasing in the first quarter of 2024, declining sharply in the third quarter, and recovering slightly in the fourth quarter.
NFT trading volume increased by 4% in the first quarter of 2023, reaching $5.3 billion, but then declined.
2022 was the most prosperous year for the NFT market, with trading volume reaching $57.2 billion and transaction count reaching 121.7 million.