NFT ecosystem attempts a bounce back amid bearish market sentiment By Cointelegraph



NFT ecosystem makes an attempt a bounce again amid bearish market sentiment

Over the previous two years, nonfungible tokens (NFTs) gave the crypto ecosystem the enhance it wanted to seize mainstream consideration — owing to the involvement of distinguished artists and celebrities. Nevertheless, regardless of the large losses suffered by NFT buyers following the continued, 10-month-long bear market, the ecosystem confirmed sustainable indicators of a comeback within the final two weeks.

Since Sept. 12, the efficiency of blue-chip NFT collections witnessed a gradual progress, inching again towards the ten,000 Ether (ETH) that was misplaced in mid-August 2022, based on information by NFTGo.

The efficiency of blue-chip NFT collections. Supply: NFTGo
Market capitalization of NFT collections. Supply: NFTGo
NFT market sentiment. Supply: NFTGo