The NFT world’s cooking with fire again, boom! In just 24 hours, the total NFT market cap shot up over 23%, hitting $6.4 billion. 23% in a single day.
It’s the fiercest daily show of strength we’ve seen in more than a year.
The trading volume isn’t messing around either, crossing $39 million. Sounds like the good ol’ bull run might be sneaking back through the back door.
How did we get here?
Bitcoin breaks out above $120,000. And when the big boss makes a move like that, it sends shockwaves through the crypto neighborhood.
Suddenly, investor excitement returns, and NFTs start drawing fresh capital like moths to a flame. Ethereum’s blue-chip collections?
They’re flexing hard. Moonbirds soared 31%, their floor price now 1.84 ETH, like a sprinter out of the gate.
CryptoPunks rolled up 14% to 46.7 ETH, and big names like Azuki and Bored Ape Yacht Club also posted solid gains. These are the VIPs of the NFT club pulling the whole market up.
Now for the plot twist, Bitcoin-based NFTs are lighting up, too. Ordinals and Bitcoin-native projects exploded with over a 400% jump in weekly volume.
Ethereum’s still the kingpin, sure, but Bitcoin’s staking its claim, and platforms like Solana and Polygon are stepping up their game. The NFT playground is getting bigger.
What’s the real story?
Now, here we are, NFT market cap at $6.41 billion and a triple-digit spike in daily trading volume.
This is real buying and selling, liquidity flowing like espresso at a Monday morning meeting.
The game is changing, too. Big brands like Nike and Starbucks aren’t just slapping logos on pixels, they’re building real-world experiences with NFTs.
That’s like turning your office coffee break into a VIP networking event. Suddenly, NFTs aren’t just shiny collectibles anymore, but they’re becoming useful, practical, part of everyday life.
Can this momentum last?
The real question, right? Experts say this might be just the opening act. If the market keeps up with strong trading and genuine buyer interest, analysts say we could be cruising for a $7 billion cap soon.
This momentum could trickle down, giving the mid-tier and smaller projects a shot at the spotlight.
But hey, no fairy tale’s complete without a dose of reality. The market’s still riding high on broader crypto vibes, if those sour, the NFT party could fizzle out really fast.
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