A recent analysis of the trading volume of NFTs found that it fell 97% from $17 billion in January to $466 million in September.
Read NFT Trading Volumes Collapse 97% from January Peak from Bloomberg.
See also:
- Mania and speculation is a good example of investment strategies that only work in a bull market
- NFTs provide digital scarcity among digital abundance but the falling volume has more to do with speculation than the principle of scarcity
- NFTs joining cryptocurrencies as not being immune to market conditions
- Zero interest rate policy (ZIRP)
Links to this note
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Over 95% of Nfts Are Worthless
A study of 73,000 NFT collections found that more than 95% had a market cap of zero ether and an estimated 23 million people are holding worthless assets.