6 recorded changes
Want your article here?
Promote with Leviathan NewsAccording to DappRadar’s February 2024 industry report, global NFT trading volume fell about 63% month‑on‑month to roughly $1.36 billion in February, extending a sharp reversal that began in January when volumes had already dropped around 26% from December levels. This pullback followed a strong Q4 2023 and early‑January rally and coincided with a broader crypto market downturn, with falling token prices dampening speculative activity and reducing the dollar value of NFT trades. DappRadar analyst Sara Gherghelas characterized the shift as a renewed “NFT winter,” noting that both trading volumes and active traders declined, and that blue‑chip collections were not immune to the drawdown. The report highlights that Ethereum remained the dominant NFT chain by volume, but activity also contracted across other major ecosystems, reflecting a market‑wide retrenchment rather than a chain‑specific issue. Royalties and creator revenues shrank alongside volumes, intensifying pressure on NFT projects that rely on secondary‑market activity for income. At the same time, DappRadar points out that builder and brand interest in NFTs—particularly around gaming, loyalty, and IP—continued despite the market cooling, suggesting that the period is functioning as a consolidation phase where speculative excess is flushed out while longer‑term use cases continue to be developed.
AI-generated background, compiled from web sources — not editorial content.
Frontofficesports ·
Binance ·
𝕏/@CoinDesk ·
𝕏/@mfigge ·
Binance ·
𝕏/@zjbrenner ·
Frontofficesports ·
Binance ·
𝕏/@CoinDesk ·
𝕏/@mfigge ·
Binance ·
𝕏/@zjbrenner ·
🚀 Love DeFi? Ready to dive in and start earning $SQUID while making an impact?