NFT Market Cap Skyrockets to $6.4 Billion—Is the Bull Run Back?
Main Idea
The NFT market has experienced a significant resurgence, with a 23% increase in market capitalization to $6.4 billion and a surge in trading volume, driven by renewed investor interest and broader crypto market momentum.
Key Points
1. The NFT market capitalization surged past $6.4 billion, marking a 23% increase in 24 hours, one of the strongest daily performances in over a year.
2. Daily NFT trading volume soared past $39 million, with rising floor prices in blue-chip collections like CryptoPunks, Azuki, and BAYC contributing to the rally.
3. Bitcoin's price surge above $120,000 brought positive sentiment to digital assets, leading to increased capital flow into NFTs.
4. Ethereum dominates the NFT space, but Bitcoin-based NFTs and ecosystems like Solana and Polygon are showing promising growth.
5. Market analysts predict the NFT market cap could reach $7 billion in the coming quarter if the current momentum continues.
Description
The post NFT Market Cap Skyrockets to $6.4 Billion—Is the Bull Run Back? appeared first on Coinpedia Fintech News The NFT market has made a dramatic comeback, with its total market capitalization surging past $6.4 billion—a staggering 23% increase in just 24 hours. This marks one of the strongest daily performances in over a year and reflects renewed investor interest amid a broader crypto market rally. As daily NFT trading volume also soared past $39 million, the signals of a potential bullish ...
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