Is the Nft hype-cyvle is over?

[Twinscoin2017]

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

[1714842917]

1714842917

[TastyChillySauce00]

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

Up and down the daily trade volume in the NFT market just a common thing. You can't define that as a clue for the NFT trend hype to be ended.
That means nothing for me caused by the volume can increase anytime once the big players will be joining again in the NFT trend. Don't you see how some new NFT projects made 150x ROI instantly? that's proven that if the hype for the NFT trend has not yet ended. I think that you must try to see that based on the various metrics. You cna't take the daily trade volume as the most important metric to determine how long the trend will be going on. As you can see that some NFT projects were still sitting on the top 100 CMC. The same thing will be happening like defi trend. NFT has so many functionality and this trend will remain forever. NFT hype is not yet over. It's still running now.

[tabas]

Just the usual crypto market that it goes up and down. The hype may be over for some but as long as there are still people buying NFTs, it won't be over.
I guess that it will stay but not as many as we've seen before and only the best will.

[Tipstar]

The excess hype is over. Now investors won't jump blindly on anything just because it contains the word NFT.
But NFTs are here to stay. Just like how Defis are still a thing even after a defi bubble popped off, NFT would still be a thing as there are real owners and artist into DEFI and they are a secure way of defining digital ownership. The NFT utilization sector could get even bigger with time.

[dhemasm]

Is the NFTs hype- cycle is over?

I think yes, The NFT market volume was declined lately and i think it's because lack of innovation on the market or it's already reaching it's peak, Just like DeFi or the others, The hype it's not going really too long and it's becoming mainstream, Well it's normal since the bubble already burst but beside like that there are some good NFT concept out there so even the market declined the innovation will continue and maybe going to rise again anytime.

[Silberman]

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

There is not an infinite amount of money, every market no matter how big has a size and it seems to me that the limits of what it can be achieved with NFTs have been reached, this was bound to happen to this market, even if I think it has some potential right now is inundated by scammers selling all kinds of things that are never going to have any value so it was just a matter of time before people realized that they were losing money and that it was time for them to move away from such market.

[bitcon]

Usually I judge if the trend is over and what is a new one just from this platform and new projects that appear at this moment. Talking about the current situation, I see that hype still continues. Maybe people trade less on NFT-marketplaces and make deals with digital pictures, but NFT-games and other NFT-projects still appear and are very popular with investors.

[herurist]

I don't think so because considering NFT a few months ago it was actually overhyped in my opinion. not without reason, when you see the hype that suddenly makes the price go up, it's actually not very good for a project, as well as NFT.
it would be very reasonable if now NFT enthusiasts are not as enthusiastic as before because there needs to be a cooling down process first so that NFT is at least not too far away from the existing market increase.

[Yaunfitda]

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

September has a history of being a bearish month for bitcoin and the rest of the crypto.
Not sure what are the reasons, but hopefully we can get back to the momentum next month. So as far as NFT goes, I don't think that the hype is over, it just following a certain pattern for now. And there's no new hype to replace NFT so it will continue to attract new investors and new players in the market. And I'm still thinking that it will grow as we close out the year with a super bullish trend.

[watergold]

every increase there is always a decrease and the same goes for NFT because for the past few months NFT has been hype and even overhyped because the NFT invasion was so crazy a few months ago.
other than that, September always seems bearish considering there were several bearish cases in September and it's not even possible that we are on that path right now.
but actually this is very good for nft because considering the price increase it was too crazy in the hype a few months ago and there has to be a bit of stagnation and decline for it to stabilize.

[zasad@]

The NFT theme is just gaining momentum. If now the majority of NFT tokens are useless and are sold by well-known personalities, then then tokens will appear that will have real use in games or will be a means of calculation in various projects. But with the current fees on Ethereum, this is not possible.
https://etherscan.io/block/13282942

[X-ray]

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September.

I gues you're reading the news related to him, right?

What does this all means?

It means nothing for sure, up and down in the daily trade volume is just a common thing. You can't expect if the volume will be growing anytime. there will always be the time people are moving to another trend and this will make the volume goes down. This is happening with defi in the past too.

Is the NFTs hype- cycle is over?

It's not yet over and it will remain forever like defi. I meant crazy buy for the NFT may be over but it's not with utility use case that can be offered through use NFT. you must also see a coin and the volume of this coin going up when there was a huge announcement but it goes down again.

[crzy]

Not yet but soon especially if the market enters into another bear market, we might see many NFT projects to slowly dying, and its happening already in some NFT games the top games before are now experiencing a big down fall. Well, this is expected and many will follow the down trend, the hype will slowly fade away.

[Ziskinberg]

That I think was right. We can't just have to expect them to rule the market for long but rather to think that some of these projects will soon die like in previous projects (ICO, IEO, Defi). So I could say this was not surprising anymore, in fact, only gaming NFTS is able to surge and gains market attraction while the others are already abandoned.

I'm worried about if these projects went bad as the market showing a downtrend motion and making no chance of recovery. Or the current situation will create panic selling which drives out NFT projects in the market.  

[asriloni]

The same thing has ever happened with defi, when defi TVL and daily trade volume was going down on the several platform and there's a big boy that said if the trend gonna be end and that's BS. The hype will stay forever and it will not go to the somewhere. I guess it's too early to say like that as more and more NFT game was also coming and some new NFT projects were able to gaining more than 150x ROI instantly.The new nft platforms were about coming again very soon. that proves if NFT trend was still alive and it's not dead yet just because the volume on opensea was decreasing. There are hundreds thousands of active players on NFT game. The NFT artwork may become a different case caused by this is not so attractive like NFT game. People are taking BS created by big boy. The hype cycle can come anytime. none knows about this for sure but just watch the market.

[bussybuddy]

The signals are that people's interest in the market is growing, perhaps profiting from that hype won't be a problem.
A lot of NFT projects have achieved amazing returns, and I think sometimes the FOMO is the exaggerated nature of the market at this stage.

[fileo]

I don't think NFT demand will continuesly decline but the hype maybe will decrease due to recent scam NFTs and the current FUD in crypto. NFT is not yet over. The drop of demand could be a cause of the sudden dump that affect all cryptos including NFTs.

[sikke]

There's still quite a bit of interest in the NFT space but I'd say that most of the frenzy is gone now.

People are getting to the actual uses of NFTs now, which is as a digital avatar or to allow for royalties to be collected on a very streamlined basis

I think that the space is very interesting and worth a watch in the future, but not many projects are worth buying at current prices.

[Dread Pirate Roberts]

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

well what happened also relates to the current bitcoin price. and I think it's still reasonable, a lot of good NFTs are still in the development process and i think there is still many people wait for something new nft concept will exist in this industry. maybe it's only because of the bitcoin market conditions that have an impact on the NFT trading volume decrease compared to before.

[bison]

The ups and downs of transaction volume in the crypto space are commonplace, it's not a surprising thing, maybe for some people think that the NFT trend is starting to fade, but in fact there are still many people who believe in the potential of NFT and buy it, the NFT trend is still in the middle. safe level, he does not dim just rest, there are still many NFT-based projects that are currently of interest.