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NFT market remains sluggish despite crypto’s rise

October 25, 2023


Despite a broad-based rally that has pushed digital asset prices to levels not seen in years, the NFT market remains stubbornly mired in a bear.

In the past week, large caps such as bitcoin have surged as much as 22%, climbing from $28,000 to a peak of $35,000 on Monday. Bitcoin in turn dragged much of the industry higher, with only two assets – Huobi’s HT and Trust Wallet’s TWT – among the top 100 by market capitalization in the red on a 7-day basis, per CoinGecko.

Despite the broad-based rally, however, the NFT sector has largely failed to rise.

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