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I didn't expect this, but the NFT market didn't give investors any surprises this Christmas season. The latest data shows that the total market capitalization of NFTs in December has already fallen to $2.5 billion, compared to the high of $9.2 billion at the beginning of the year, a direct halving with a decline of 72%.
This decline is really no small matter. What's more heartbreaking is the issue of market enthusiasm—during the first three weeks of December, weekly NFT sales have not broken $70 million, further declining compared to November's performance. I originally thought there might be some improvement at the end of the year, but instead, it has shown a continuous weakening trend.
The underlying reason is quite obvious: market participants are clearly decreasing. As fewer players enter the market, trading volume naturally declines, and the vitality of the entire ecosystem is gradually suppressed. Under this vicious cycle, it is not easy for the NFT market to turn around.
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I knew it, this wave at the end of the year can't save anything, everyone has already left
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Is it more than halved? Oh my, this data is making me a bit painful to look at
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Wait, not even 70 million? That's the most terrifying part
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The ecosystem is stuck in a vicious cycle, no one plays, naturally no one comes
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So Christmas season can't boost it either, what else can we rely on then
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2.5 billion... I remember the 9.2 billion at the beginning of the year, it feels like a dream
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With fewer participants, trading volume drops, it makes sense logically but sounds hopeless
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Is there really no room for a rebound this time, or is it just temporary
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Looking at this trend, it feels like the bottom hasn't been reached yet
NFTs are really cooling off, not even Christmas can save them.
Players have all left, who else is going to step in to buy the dip...
Another year of bubble bursting, as expected, there are no eternal hot spots.
These numbers are hard to watch. What are the brothers still bottom-fishing in December thinking?
The entire ecosystem is dead silent, a rebound seems far away.