{"id":495674,"date":"2022-09-24T15:00:00","date_gmt":"2022-09-24T12:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nft-ecosystem-attempts-a-bounce-back-amid-bearish-market-sentiment\/"},"modified":"2022-09-24T15:00:00","modified_gmt":"2022-09-24T12:00:00","slug":"nft-ecosystem-attempts-a-bounce-back-amid-bearish-market-sentiment","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nft-ecosystem-attempts-a-bounce-back-amid-bearish-market-sentiment\/","title":{"rendered":"# NFT ecosystem attempts a bounce back amid bearish market sentiment"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27e22ef225a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27e22ef225a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nft-ecosystem-attempts-a-bounce-back-amid-bearish-market-sentiment\/#%E2%80%9D_NFT_ecosystem_attempts_a_bounce_back_amid_bearish_market_sentiment_%E2%80%9C\" >&#8221; NFT ecosystem attempts a bounce back amid bearish market sentiment &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_NFT_ecosystem_attempts_a_bounce_back_amid_bearish_market_sentiment_%E2%80%9C\"><\/span>&#8221; NFT ecosystem attempts a bounce back amid bearish market sentiment &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ebd806f>Over the past two years, nonfungible tokens (NFTs) gave the crypto ecosystem the boost it needed to grab mainstream attention \u2014 owing to the involvement of prominent artists and celebrities. However, despite the enormous losses suffered by NFT investors following the ongoing, 10-month-long bear market, the ecosystem showed sustainable signs of a comeback in the last two weeks.<\/p>\n<p>Since Sept. 12, the performance of blue-chip NFT collections witnessed a steady growth, inching back toward the 10,000 Ether (ETH) that was lost in mid-August 2022, according to data by NFTGo. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/8a19312f-fc27-4b24-a87e-20335689f0e7.png\"><figcaption style=\"text-align: center;\"><em>The performance of blue-chip NFT\u00a0collections. Source: NFTGo<\/em><\/figcaption><\/figure>\n<p>On Sept. 20, the market capitalization, which is derived from the floor price and the trading price of NFTs, spiked nearly 16.5% at roughly 11.25 million ETH. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/519f0932-41ae-462c-854d-9efa5f05d679.png\"><figcaption style=\"text-align: center;\"><em>Market capitalization of NFT collections. Source: NFTGo<\/em><\/figcaption><\/figure>\n<p>Reciprocating the market cap breach of the 11 million ETH mark for the first time in three months, the number of NFT holders grew 32.24% along the same timeline, as shown above.<\/p>\n<p>Ethereum Name Service (ENS) currently contributes the highest volume at 9.25%, which is followed by popular NFT collections such as Bored Ape Yacht Club and Otherdeed. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/1362df31-29b1-434e-9183-67a682bc8963.png\"><figcaption style=\"text-align: center;\"><em>NFT market sentiment. Source: NFTGo<\/em><\/figcaption><\/figure>\n<p>However, current market sentiment \u2014 calculated based on volatility, trading volume, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> and Google trends \u2014 remains cold as investors try to recoup their previous losses.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Post offices adopting NFTs leads to a philately renaissance<\/em><\/strong><\/p>\n<p>NFT marketplace OpenSea launched the OpenRarity protocol to verify the rarity of NFTs within its platform. <\/p>\n<p>The protocol aims to provide a reliable \u201crarity ranking\u201d that would assist investors when considering purchasing NFTs.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nft-ecosystem-attempts-a-bounce-back-amid-bearish-market-sentiment\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; NFT ecosystem attempts a bounce back amid bearish market sentiment &#8220; Over the past two years, nonfungible tokens (NFTs) gave the crypto ecosystem the boost it needed to grab mainstream attention \u2014 owing to the involvement of prominent artists and celebrities. However, despite the enormous losses suffered by NFT investors following the ongoing, 10-month-long&#8230;<\/p>\n","protected":false},"author":1,"featured_media":495675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvYzMwY2FjNDMtM2ZmMy00ZDY3LTlhNGMtODRkMmVhMjJmNzYzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75679,95118,74355,72366,73711],"class_list":["post-495674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-market-capitalization","tag-nft","tag-adoption","tag-data","tag-investments"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/495674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=495674"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/495674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/495675"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=495674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=495674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=495674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}