CandleFocus NFT Trading Volumes Remain Flat Since July: A Market Pause or New Stability?
2024-10-10
Author: Content Editor
The trading volume of NFTs has remained relatively stagnant since July, leading to speculation about whether the market is preparing for a resurgence or if this is its new normal. Data from IntoTheBlock shows that after experiencing fluctuations in late 2023 and increased volumes in early 2024, the market has flattened in recent months. The total volume line on the chart remains constant in the $0-$20M range, which is concerning for the overall development of the NFT market. This stability could be seen as a sign of maturity in the market, with institutional investors and real money players becoming dominant. This could lead to a more sustainable future for NFTs, with less speculative trading and potential use cases beyond art and collectibles. The future performance of NFTs in the next few months will determine whether this stagnation is temporary or a new normal.
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