BlockBeats News: On July 9th, according to Bloomberg, NFT, which was once a popular field for cryptocurrency traders and enthusiasts, seems to have declined significantly. This once popular track has seen a continuous decline in trading volume for five quarters now.
According to data compiled by DappRadar, the total transaction volume of NFTs in the second quarter decreased to $823 million, compared to $4 billion in the same period last year. Despite a 19% decline in NFT trading volume in 2024, marking the worst year in the industry's history, this year's data indicates that the market downturn has not yet bottomed out.
These numbers also reflect that digital assets represented by collectible cartoon avatars and viral memes are gradually losing their former appeal.
