Is the NFT Boom Finally Over? Mixed Signals Ahead

Mixed Signals in the NFT Market: Is the Boom Over?

In recent times, the NFT market has shown a noticeable trend: while spending on NFTs has increased, the number of transactions has significantly declined. For instance, between August 3-10, 2024, total spending on NFTs reached $95.42 million, a 6.29% increase compared to the previous week. Yet, the number of NFTs sold dropped by 77.25%, and the number of purchased NFTs fell by 86.34%.