NFT Trading Volume drop 17% despite say buyers and sellers dey do more work as Ethereum still be top blockchain
NFT trading volume drop 16.76% to $105.7 million for di last week, e dey mirror di wahala wey dey di bigger crypto market as Bitcoin price fall from record highs and di total crypto market cap dem reduce. Even though di dollar value drop, di NFT market see serious rise for activity: buyers increase by 55% reach near 700,000, sellers come up 19%, and the number of transactions climb more than 34%. This one show say more people dey join and market dey Move, but average transaction value lower—indicating people dey shift to lower-cost NFTs or say demand for high-value assets dey reduce. Ethereum na di blockchain wey lead growth, as im NFT sales rise 28.4% to $36.5 million, confirming im status as di top NFT platform. Polygon still dey second even though sales drop 26%, while Solana NFT sales rise 18%. Bitcoins NFT volume drop 27%, showing say people preference dey change. Top collections be Polygon’s Courtyard and Ethereum’s STRAT Option. Big NFT transactions like high-value CryptoPunks sales still dey happen, but overall investor feeling serious as market still dey volatile. Dis movement mean say people still dey active with digital assets, especially for platforms like Ethereum, even as big crypto price corrections dey cause some uncertainty for NFT sector.
Neutral
Di matter say NFT trade volume dey fall even tho buyers and sellers plenty grow, e mean say market don scatter, as more small transactions dey compensate for sharp drop for big value sales. Ethereum growth dey counter the drop wey other blockchains dey experience, e show say liquidity dey move, no be say NFT interest dey expand or contract sharply. Market sentiment na caution plus uncertainty as crypto prices dey correct overall, e mean say no be strong bullish or bearish condition for NFT-related cryptocurrencies now now. The balance wey dey between more user activities and falling values mean say near-term trade outlook na neutral, as people still dey active but risk appetite for high-value NFT don weaken.