This week’s whipsaw market movements test NFT traders’ resolve — What’s next? By Cointelegraph


This week’s whipsaw market movements test NFT traders’ resolve — What’s next?

It goes without question that there has been an influx of excited investors piling into Web3 and this is despite the decrease in total volume sales in the last seven days. Since the start of May, the total market capitalization for nonfungible tokens (NFTs) rose to over $19.4 billion with the total volume exceeding $1.2 billion in the last seven days.

7-day NFT market capitalization / volume. Source: NFTgo.io

Although volumes are lower than usual, spectators are quick to wonder whether the projects launching are delivering workable products given the amount of liquidity that pumps into them. Although this is not always the case, NFT investors are making their assessments based on roadmaps, announcements and projections that the team shares. However, given the speed at which the nascent NFT sector is moving, detours and roadblocks are to be expected when investing in NFTs.

Otherside all-time avg. sale price / volume. Source: OpenSea
30-day NFT market capitalization / volume. Source: NFTgo.io