Cryptocurrency Exchang BYBIT has announced the closure of the NFT distinctive symbol (NFT).
On April 1 advertisementBybit warned its users that its NFT market will stop operations on April 8, 2025, at 4:00 pm (UTC). Moreover, at the time, the stock exchange will also close the inscription market and initiative to display the initial decentralized exchange.
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This announcement shows that measures are part of “Bybit efforts to simplify our offers”. The decision follows a A similar decision by Major Nft Marketplace x2y2 I announced earlier this week.
I told Charu Sethi, the president of the unique Polkadot and Kusama Chain network that focuses on NFT, CointeleGraph at a time when the market moved from speculation to facilities:
“The speculative stage that focused on holdings and trading has ended, but NFTS now enters the next growth era as a basic infrastructure that provides huge opportunities in games, artificial intelligence, fans sharing and content ratification.”
NFT market in a declining direction
The uninterrupted code market is witnessing a large contraction. NFT daily trading volume was more than $ 18 million before 364 days and $ 5.34 million at publication time – by 70 %.
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The fall is more amazing when it contradicts the amounts reported on December 17, 2024, when it exceeded $ 113.6 million. Since then, the volume has decreased by more than 95 %.
Nft Marketplace daily trading volume. source: Distinguished Code Station
The lack of interest in the investor in the speculative NFTS throughout the market is feeling. Reports that appeared earlier today show that NFT Project Guter Cat Gang (GCG) witnessed a rocky symbolic absolutely her symbol of her gang on Apechain on March 31, attributed to a “technical issue” by a third party. However, others He pointed to the low interest in the distinctive symbol.
The joint data online indicated that the project attracted only 3.66 Ether (Eth), About $ 6,800, in selling the distinctive symbol. This is far from the project goal of a million dollars – but the team has not yet dealt with these claims.
In late March, a report shows that NFT sales decreased sharply in the first quarter of 2025, 63 % decreased on an annual basis. However, the report refers to some extremist values such as innovative logo graphics, MIDY and Pudgy Penguins all expectations.
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