NFT sales in the first five months of this year fell by more than 6% compared with the same period last year
According to DappRadar, NFT sales in the first five months of this year decreased by over 6% compared to the same period last year, to $8.5 billion. In contrast, in January 2022, the industry sold $17.2 billion worth of NFTs in one month, setting a new historical high. Last month, after the US Securities and Exchange Commission took the first step in approving ETF direct investment in Ethereum, investor sentiment further deteriorated. Nicolas Lallement, co-founder of NFT Price Floor, a data tracking company, said that some investors started to turn to Ethereum and sell NFTs before approval. The cryptocurrency market is a capital rotation, and it is foreseeable that Ethereum will continue to attract and absorb market capital and cause prices of other assets to fall.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
[Initial listing] Bitget to list Kiichain (KII)
New data display features added to the futures elite trader homepage
CFD profit share feature upgraded for safer earnings
New stock categories added to the market selection pop-up in the elite trade section
