On January 15th, according to DappRadar's recently released "2024 Dapp Industry Report," NFT trading volume in 2024 decreased by 19% compared to 2023 to $13.7 billion, while sales decreased 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 trading volume increasing by 4% compared to the first quarter of 2023, reaching $5.3 billion. However, the momentum was short-lived as trading volume dropped 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 entered the mainstream for the first time with a trading volume of $57.2 billion and 121.7 million transactions.