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The month of May held a bitter surprise for NFT supporters. While Bitcoin shone with a notable increase in its volumes in the non-fungible token market, the entire sector sank into a new phase of decline. Proof that the health of a flagship asset is not always enough to lift an entire ecosystem upwards.
In brief
- NFT sales dropped by 21% in May despite an increase in the number of buyers.
- The market is becoming more selective, driven by a few star collections rather than the blockchains themselves.
A market paradox: more buyers, but fewer sales
There is something ironic about seeing a market welcoming more buyers… while selling less….
