NFT Trading Volume Declines 63% Since December
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Non-fungible token (NFT) trading volumes experienced a sharp decline of over 60% last month compared to December, despite an uptrend observed in the closing months of 2024. This drop aligns with a broader downturn in the crypto market.
In December, NFT trading volumes reached $1.36 billion but decreased by 26% in January and fell another 50% in February, as reported by DappRadar analyst Sara Gherghelas in a March 6 industry report.
“While NFTs had been showing signs of a comeback in recent months, their momentum has slowed since the start of the year,” she explained.
Gherghelas attributed this decline in NFT valuations to their close connection with cryptocurrency price trends.
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