NFT market cyclical recovery? Trading volume exceeds $69 million, with buyers surging by 50%

Question

【ChainNews】In the past week, the NFT market has released many positive signals. The total transaction volume surged to $68.98 million, an 11.31% increase week-over-week. More interesting is the rise in engagement—buyers soared by 50.28% to 231,167 people, and sellers also increased by 45.03% to 164,986 people. Although the number of transactions grew more modestly (5.22%), the significant increase in participants indicates that market enthusiasm is indeed rebounding.

From the public chain perspective, performance varies significantly. Ethereum continues to lead, with a transaction volume of $28.15 million, a 36.23% surge week-over-week, accounting for nearly 41% of the entire market. This reflects that mainstream NFT projects and high-value transactions remain concentrated within the Ethereum ecosystem.

Polygon showed impressive growth momentum, with a transaction volume of $4.73 million, a 50.38% increase. As a sidechain solution, this growth indicates that developers and traders still have strong demand for low-cost, high-speed transactions. In contrast, BNB Chain, although an important ecosystem, saw a transaction volume of $8.67 million this week, a 19.16% decline, possibly related to adjustments in market capital flow.

Overall, after a period of dormancy, the NFT market has experienced a clear rebound in activity. Both participation numbers and transaction scales are trending upward, which may signal the next cycle.

RugPullAlertBot · Accepted Answer

Here comes the reaping again? The buyers increased by 50%, but I think it's the bagholders who increased by 50%.

AirdropHunterWang · Answer

Buyers surged by 50%? Is this a real recovery or just another trick to lure me in to cut the leeks...

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ETH is still the boss, with a 41% share that can't be shaken off at all. Other public chains trying hard is just pointless.

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Polygon's recent rally is pretty good, but the question is, can the trading volume really hold up?

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With such a rapid increase in the number of users, is the average transaction value dropping? Be sure to check carefully, everyone.

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Another week, another data point. The NFT market really survives on hype and data manipulation.

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231k buyers sounds quite a lot, but the real big players are still just a few hundred. Don't pretend not to see the concentration of funds.

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Wait, trading volume only increased by 5%, but the number of users grew by 50%? That logic doesn't quite add up, brothers.

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Polygon surged 50%. Could it be related to some project team's promotional activities? Time to dig into it.

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Don't just look at the month-over-month comparison; a year-over-year comparison is more meaningful, okay?

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This data is positive in a bear market, but compared to a bull market, it's still far from enough. Don't get too excited.

DegenWhisperer · Answer

Buyers surge by 50%? Is this really not a false prosperity before a harvest of leeks...

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ETH still dominates with a 41% share. Polygon wants to turn things around but it's tough.

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The numbers look good, but the real key is whether genuine funds are coming in. Honestly, how long can this rebound last?

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The high engagement actually makes me a bit nervous. Are we all just bottom-fishing or are we about to start a rally?

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Wait, both buyers and sellers are increasing? Feels like everyone wants to run away haha.

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Polygon doubling is indeed interesting; low gas fees still attract buyers.

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Recovery? Forget it, last time I heard that word I lost 50 ETH. Now I'm immune to these kinds of data.

MEVHunterBearish · Answer

Hmm... Buyers increase by 50% but the number of transactions only rises by 5%? What does that indicate? Are they all watching but not buying?

TestnetFreeloader · Answer

Buyers surged by 50%? Feels like the scythe is coming to harvest the leeks again. Don't be fooled by these numbers.