As of November 5th, the global NFT market capitalization stands at 3.5 billion USD, down from 6.6 billion USD. Despite a 13% rise in NFT sales, major chains like BNB and Polygon faced drops of 82% and 86%, indicating a rough market.
CryptoPunks and Moonbirds experienced drastic declines in trading volumes and floor prices, highlighting the NFT market’s volatility. This trend, reflecting trader sentiment, suggests that while Bitcoin sales grew, many established NFTs are struggling.
Leave a Reply