There was a huge surge in interest in NFTs throughout the summer of 2021. After a year, the NFT market’s trading volume has plummeted.
Due to the lowest trading volumes in a year and the growing epidemic of NFT hacks, interest in NFTs has decreased along with the overall cryptocurrency market.
NFT Suffers Setback
The non-fungible token market is finding it difficult to sustain the exponential growth it saw during the 2021 bull market. Trading volumes have dropped precipitously recently and are already at their lowest levels since July 2021, according to data from prominent NFT trading sites like OpenSea.