NFT market capitalization has fallen back to pre-2021 boom levels, approaching $1.5 billion.

PANews February 6 News, according to Cointelegraph, the global NFT market capitalization has fallen back below $1.5 billion, returning to the level before the industry boom in 2021. The market adjustment has also been accompanied by an intensification of NFT supply and demand imbalance. Data shows that the number of circulating NFTs will increase by 25% to nearly 1.3 billion in 2025, but total sales will decrease by 37% year-on-year to $5.6 billion, with the average price dropping below $100. This indicates that the lowering of issuance thresholds has led to a continuous increase in supply, but buyer participation and spending have not kept pace. The industry contraction is also reflected in the exit of several well-known companies and the shutdown of platforms.