The criticising token trading (NFT) on Ethereum Network this week has reached levels not seen in the years when fever in these digital assets dominated the ecosystem. However, the recovery is short-lived, raising questions about whether “NFT-Mania” could return with the same year’s power.
The total number of active NFT merchants in Ethereum reached 46,640 this week. Numbers not registered since the first day of January 2022When collections like Cryptopunks and Bored Ape Yacht Club fired global interest in unsuitable tokens.
This peak also reflects that There were 41,720 buyers and 37,400 active vendors The June 7 network proves the rebound in commercial activity for these digital financial products.
However, the enthusiasm lasted very little. After reaching that maximum, the number of traders collapsed to 5,870. It shows the volatility that this market still characterizes.
This graph shows the peak number of NFT merchants in the Ethereum network and the resulting collapse.
The rebound of Ethereum Network’s NFT trade occurred when Opensa, one of the largest NFT markets in the market, finally launched OS2. This is an updated and improved version of the platform. At the same time, a program called Voyages has been launched, and is trying to encourage investors to use the platform and get a kind of point that takes into account the launch of Opensa’s airdrop in return.
Despite subsequent registered falls, the weekly volume of NFTs at Ethereum remained stable, To reach $18.7 million. That’s a fair number, but far from the $16.8 million recorded in 2022 records.
This contrast is a sign of reactivation, The market has not recovered from the intensity of past booms. “The story is not repeated, but rhymes,” and this rebound, although it has a different nuance, can become that frenzy echo.
Remember, in 2021 and 2022, NFT attracted global attention driven by iconic collections. As widely reported in Cryptootics, Cryptopunks with 10,000 pixelated avatars have become status symbols with sales reaching millions of dollars.
The saying that history rhymes alerts: NFT markets can find a new balance, However, to replicate the euphoria of the past, great innovation is required. And new trust. For now, this week’s rebound is a flash that reminds us of the potential of NFTs, but there are also limitations in ecosystems that continue to mature.
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