The CryptoCurrency Exchange Bybit announced the shutdown of the bad token market (NFT).
On one April 1 announcementBybit warned its users that its NFT market would stop operations on April 8, 2025, at 4:00 PM (UTC). In addition, at that time, the exchange of its inscription market and the initial decentralized initiative offer of exchange will also close.
Related: Bybit: 89% of the stolen $ 1.4B crypto still traceable post-hack
The announcement explains that the steps are part of the “Bybit effort to –streamline our offerings.” The decision follows a Similar decision of Major NFT Marketplace x2Y2 announced earlier this week.
Charu Sethi, president of the NFT dedicated to Polkadot and Kusama Chain unique network, told Cointelegraph as the market moved from speculation to utility based:
“The imaginary stage dedicated to collectivity and trade is over, but NFTs are now entering their next growth period as the main infrastructure that enables huge gaming opportunities, AI, fan interaction and content validation.”
The NFT market is on a downward ran
The unimaginable token market has seen a significant collapse. The NFT -day -to -day trading volume was over $ 18 million 364 days ago and standing at $ 5.34 million at the time of publication -a fall of 70%.
Related: Bitcoin NFTS, Layer-2 and Hype restoration ‘completely lost’
Autumn is more frustrating when different from the heights reported on December 17, 2024, when the volume exceeds $ 113.6 million. Since then, the volume has dropped by more than 95%.
NFT Marketplace Daily Trading Volume. Source: Token terminal
The weak interest of the investor in speculation -haka NFT is felt throughout the market. Reports resurrected earlier today show that the NFT Project Gutter Cat Gang (GCG) saw a rocky token launching its gang token in Apechain on March 31, linked to a “technical issue” by a third party. However, others Directed at the reported low interest in the token.
Data shared online indicates the project only attracts 3.66 ether (Eth), costs about $ 6,800, for selling its token. It was a big shout out of the project’s $ 1 million target – but the team had not met those claims.
A final March report shows that the NFT sale dropped dramatically in the first quarter of 2025, Plunging 63% year-on-year. However, the report points to some outliers such as Doodles, Milady Maker and Pudgy Penguins all expectations.
Magazine: Trump -Biden’s Bet led to an attraction to ‘idiotic’ NFTS -BatSoupyum, NFT collector
