Report: NFT transaction volume and number of transactions will drop by nearly 20% in 2024
On January 15th, according to the "2024 Dapp Industry Report" recently released by DappRadar, the NFT transaction volume in 2024 will decrease by 19% to $13.7 billion compared to 2023, while the number of sales will decrease by 18% to just under 50 million, "making 2024 one of the worst performing years since 2020." DappRadar added that there has been significant volatility in the NFT market, with transaction volumes increasing by 4% to $5.3 billion in the first quarter compared to the first quarter of 2023. However, "momentum is short-lived" as transaction volumes fell to $1.5 billion in the third quarter and rebounded to $2.6 billion in the fourth quarter. In addition, NFTs had their best year ever in 2022 when they first entered the mainstream, with transaction volumes reaching $57.2 billion and sales reaching 121.7 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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