NFT trading volume has dropped 63% since December last year

Odaily Planet Daily reports that according to the latest data, despite a slight recovery in the NFT market at the end of 2024, trading volume has significantly declined in the first two months of this year. The NFT trading volume fell from $1.36 billion in December last year, successively dropping by 26% and 50%, with a cumulative decline reaching 63%. Analyst Sara Gherghelas pointed out that this decline is closely related to the overall performance of the crypto market.

Despite the decrease in trading volume, user activity for NFTs actually increased by 6% in February, with approximately 3.5 million users interacting with NFT platforms, particularly those driven by artificial intelligence assets. Personal avatar NFTs were most popular, generating a transaction amount of $243 million.