BlockBeats latest news, Galaxy Research pointed out in a report released on Monday that the NFT market is quietly recovering! 🎉

NFT trading volume has been on a downward trend for most of this year, but with the approaching US election and the rebound in the cryptocurrency market, trading volume began to reverse in November. In early November, weekly NFT trading volume exceeded $100 million for the first time since May and peaked at $172 million on December 2.

So who is behind this recovery? Analyst Gabe Parker said this was mainly due to the increase in activity in the top 25 NFT collections by market value. Participation in major markets such as OpenSea, Blur and Magic Eden has also increased, especially Blur and OpenSea, which accounted for 60% and 27% of total trading volume in the past 30 days, respectively.

Does this mean that spring is coming for the NFT market again? Although we cannot predict the future, this positive trend has undoubtedly injected a shot in the arm for the market. For those friends who are interested in NFT, now may be a good time to refocus on this field.

What do you think of the recovery of the NFT market? Feel free to share your views and insights in the comments section, and let’s explore this dynamic market together!