Is the Nft hype-cyvle is over? - page 4.

Yaunfitda

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Quote from: Twinscoin2017 on September 16, 2021, 07:05:05 PM

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

September has a history of being a bearish month for bitcoin and the rest of the crypto.
Not sure what are the reasons, but hopefully we can get back to the momentum next month. So as far as NFT goes, I don't think that the hype is over, it just following a certain pattern for now. And there's no new hype to replace NFT so it will continue to attract new investors and new players in the market. And I'm still thinking that it will grow as we close out the year with a super bullish trend.

herurist

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I don't think so because considering NFT a few months ago it was actually overhyped in my opinion. not without reason, when you see the hype that suddenly makes the price go up, it's actually not very good for a project, as well as NFT.
it would be very reasonable if now NFT enthusiasts are not as enthusiastic as before because there needs to be a cooling down process first so that NFT is at least not too far away from the existing market increase.

bitcon

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Usually I judge if the trend is over and what is a new one just from this platform and new projects that appear at this moment. Talking about the current situation, I see that hype still continues. Maybe people trade less on NFT-marketplaces and make deals with digital pictures, but NFT-games and other NFT-projects still appear and are very popular with investors.

Silberman

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Quote from: Twinscoin2017 on September 16, 2021, 07:05:05 PM

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

There is not an infinite amount of money, every market no matter how big has a size and it seems to me that the limits of what it can be achieved with NFTs have been reached, this was bound to happen to this market, even if I think it has some potential right now is inundated by scammers selling all kinds of things that are never going to have any value so it was just a matter of time before people realized that they were losing money and that it was time for them to move away from such market.

dhemasm

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Quote from: Twinscoin2017 on September 16, 2021, 07:05:05 PM

Is the NFTs hype- cycle is over?

I think yes, The NFT market volume was declined lately and i think it's because lack of innovation on the market or it's already reaching it's peak, Just like DeFi or the others, The hype it's not going really too long and it's becoming mainstream, Well it's normal since the bubble already burst but beside like that there are some good NFT concept out there so even the market declined the innovation will continue and maybe going to rise again anytime.

Tipstar

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The excess hype is over. Now investors won't jump blindly on anything just because it contains the word NFT.
But NFTs are here to stay. Just like how Defis are still a thing even after a defi bubble popped off, NFT would still be a thing as there are real owners and artist into DEFI and they are a secure way of defining digital ownership. The NFT utilization sector could get even bigger with time.

tabas

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Just the usual crypto market that it goes up and down. The hype may be over for some but as long as there are still people buying NFTs, it won't be over.
I guess that it will stay but not as many as we've seen before and only the best will.

TastyChillySauce00

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Quote from: Twinscoin2017 on September 16, 2021, 07:05:05 PM

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

Up and down the daily trade volume in the NFT market just a common thing. You can't define that as a clue for the NFT trend hype to be ended.
That means nothing for me caused by the volume can increase anytime once the big players will be joining again in the NFT trend. Don't you see how some new NFT projects made 150x ROI instantly? that's proven that if the hype for the NFT trend has not yet ended. I think that you must try to see that based on the various metrics. You cna't take the daily trade volume as the most important metric to determine how long the trend will be going on. As you can see that some NFT projects were still sitting on the top 100 CMC. The same thing will be happening like defi trend. NFT has so many functionality and this trend will remain forever. NFT hype is not yet over. It's still running now.

Twinscoin2017

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I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

Topic: Is the Nft hype-cyvle is over? - page 4. (Read 491 times)