According to Bloomberg, NFTs, once a hot spot for cryptocurrency traders and enthusiasts, now appear to be much weaker than they used to be. The once-hot track has seen trading volumes decline for five consecutive quarters.
According to data compiled by DappRadar, NFT transaction volume fell to $823 million in the second quarter, compared to $4 billion in the same period last year. Although NFT transaction volume has fallen by 19% in 2024, the worst year on record for the sector, this year's data suggest that the market downturn has not yet bottomed out.
These figures also reflect that digital assets, such as collectible cartoon avatars and viral memes, are gradually losing their appeal.
The NFT market has declined for the fifth consecutive quarter, with trading volumes shrinking sharply
2025-07-08 16:05:54
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