DappRadar found the NFT market last year was the worst since 2020 for trading and sales volumes, with both falling nearly 20% over 2024.
The non-fungible token (NFT) market in 2024 had its worst year for trading volume and sales since 2020 — marred by volatility and rising token prices, a DappRadar report has found.
The blockchain analytics platform’s 2024 Dapp Industry Report, published on Jan. 14, said that NFT trading volumes over last year fell 19% from 2023 to $13.7 billion while sales counts dropped 18% to just under 50 million, “making 2024 one of the worst performing years since 2020.”
DappRadar added NFTs saw significant volatility as Q1 trading volumes rose 4% to $5.3 billion compared to Q1 2023. However, the “momentum was short-lived” as volumes dropped to $1.5 billion in Q3 and rebounded to $2.6 billion in Q4.
