Global NFT Market Remains Steady Despite Decline in Monthly Trading Volume

Time：2022-02-26 Source： 1119 views NFT Copy share

The NFT market appears to have cooled somewhat over the past 30 days, with daily NFT volumes falling in tandem with Crypto prices due to a series of bearish global fundamental and technical indicators.

According to data from NFT analytics platform NFTGo, total global NFT sales have dropped by 85% over the past 30 days.

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However, this negative data has not hindered the growth of the NFT market. As of the time of writing, the NFT market valuation has exceeded $16 billion, an increase of 33.6% compared to the past month.

As the most popular track in the Crypto field, due to the irreplaceability, scarcity and verifiability of NFTs, the number of individual and institutional investors in NFTs is growing rapidly.

Brands from different fields, including gaming, art, sports, media, and entertainment, continue to have new brands trademarking the NFT space.

Well-known companies such as Adidas, Nike, Givenchy, Disney, McDonald's, Pepsi, Time Magazine, Nvidia, etc. all plan to participate in NFT-related fields.

Yet with such an increase, one can't help but wonder, what caused the drop in daily transaction volume? Over the past few weeks, the NFT ecosystem has been embroiled in a series of events.

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