NFTGo Data Reveals ‘Cool’ Sentiment in NFT Market

03/06/2023 21:56 • Blockchain Briefs • 124 views

It is reported that according to NFTGo data, the current NFT market sentiment index is 36, with a rating of “Cool”. In the past 24 hours, there are 15538 buyer addresses and 16214 seller addresses in the NFT market. The number of profitable addresses in the past 30 days is 122303, and the number of loss-making addresses is 380577.

The current NFT market sentiment index is 36, and the rating is “Cool”

Analysis based on this information:

NFTGo, a leading provider of data analysis in the world of non-fungible tokens (NFTs), has released a report on the sentiment of the NFT market. According to their findings, the current NFT market sentiment index is 36, which is rated as ‘Cool’. This data indicates that the overall mood of NFT buyers and sellers is currently subdued, with a general lack of enthusiasm for the market.

In the past 24 hours, there were 15538 buyer addresses and 16214 seller addresses in the NFT market. While these figures demonstrate a healthy level of activity, they are not indicative of a significant uptrend in NFT trading. Moreover, the report states that in the past 30 days, the number of loss-making addresses exceeded the number of profitable ones. This trend indicates that the NFT market is not as lucrative as it was in the past, with fewer investors seeing profit from their NFT holdings.

As a result, the report suggests that the current state of the NFT market could be due to a lack of new and interesting NFT offerings. Many buyers may be hesitant to invest in NFTs that offer little value or do not have a high level of intrinsic worth. Furthermore, some buyers may be disillusioned with the NFT market after recent high-profile sales, such as the $69 million NFT sale by digital artist Beeple, which they see as inflated and unsustainable.

In summary, the NFTGo report paints a picture of a somewhat stagnant NFT market. While there is still a level of activity, it is not as buoyant as it was during the height of the NFT craze. Buyers are more cautious, and fewer are seeing significant profits from their investments. The lack of new and interesting NFT offerings may be partially to blame for the subdued market sentiment.

In conclusion, NFT investors and creators should carefully assess the market sentiment and explore ways to offer unique, high-quality NFTs that have real intrinsic value. By doing so, the NFT market may regain its former vitality, thus offering new opportunities for profitable investments.

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NFTGo Data Reveals ‘Cool’ Sentiment in NFT Market

The current NFT market sentiment index is 36, and the rating is “Cool”

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