Home
NFT

Market Rise and Fall: The NFT craze is far from over

0 Comment

It’s no secret that the cost of an NFT blue-chip collection like BAYC has dropped significantly. This, in turn, manages to intimidate many NFT players on the market and paves the way for a negative environment. Of course, constructive criticism and discussion surrounding the NFT is important. But most tech wizards and crypto enthusiasts believe the NFT craze is not over.

Look outside the BAYC NFT collection

The fact of the matter is that the NFT collection extends beyond BAYC. So far, there is a long list of NFT collections available in the market. After a significant drop in the price of the BAYC NFT collection, the market has started to go downhill.

The rationale behind the recent NFT decline

But like the stock market, the NFT market is bound to rise and fall. Indeed, contrary to misconceptions, the NFT sector is poised to enter a new phase with increasing sales volume. As of May 2022, sales around the NFT amounted to a maximum of 3.7 billion.

Although sales volumes have dropped by 20%, DappRadar’s report suggests that NFT sales volumes will continue to grow in Q3 and Q4. Although cryptocurrencies are now part of the bear market, the NFT sector still has a strong presence.

Also, you can’t imagine a huge market crash like NFT from just a few tweets. Sharp observations by technology experts indicate that the NFT market will become more stable by the end of Q4 2022. Just like 2021, the sales volume of active participation in the vicinity of NFT in 2022 is still high.

The NFT market may be a bit slower in 1 Q1 of 2022, but now it seems ready to accelerate. According to DappRadar, NFT shows higher sales volume for active users.

Long-term stability of the NFT market

The Channelisis The report highlights that the NFT sector has already begun to stabilize and sales will accelerate upwards by the end of the 3rd quarter of 2022. Despite fluctuations since the beginning of 2022, the volume of NFT transactions is growing rapidly. For the most recent visible NFT fall, sales have not hit the flat line. The market has started to be more optimistic about NFT and there is more awareness and participation than ever before.

Introduction to OpenSea NFT Marketplace

One of the main reasons for the decline in the price of NFT market is related to a marketplace like OpenSea. The platform fell 6.5% in April, triggering multiple negative events around the NFT. But the truth is that OpenSea, on average, generates a trading volume of 900,000 ETH.

Support us through our sponsors



https://ift.tt/pHTntz9

Baca juga

Post a Comment

Post a Comment