NFT is, without a doubt, the buzzword of the year. Non-fungible tokens made a lot of noise last year and broke all kinds of records, but unit sales have since plummeted.
On the peak trading day in September of last year, 225,000 NFTs were traded. The daily sales volume has now increased to 19,000. This represents a 92% decrease in value. The number of active wallets has also dropped by 88%.
However, this merely indicates that small projects and players have exited the market. Throughout the year, sales have continued to rise and set new highs.
With $1.3 billion in sales in the last week, NFT set a new record for the year. Thank you for your interest in the BAYC monkeys.
NFTs have grown in importance in the cryptocurrency market, and with the growth of the metaverse, they have the potential to become even more popular.