NFT Sales Rise for the First Time This Year, Raising Hopes for a Rebound

The non-fungible token (NFT) market, which has been on a continuous decline this year, is showing signs of a rebound.

On the 28th (local time), Cointelegraph reported, "NFT sales in May reached $430 million, a 15% increase from the previous month," and "This is the first time this year that monthly NFT sales have risen." It added, "This could be a sign that market interest in NFTs is growing again."

In particular, it explained that the NFT market was vibrant in May. The media stated, "NFT trading volume in May was 5.5 million, the highest this year," and "The number of NFT buyers also increased by 50%, approaching 936,000."

Yehuda Petscher, an analyst at CryptoSlam, predicted, "The NFT market is ready to rebound," and "Unlike in the past, a gradual upward trend will continue."

However, there was also an opinion that a new catalyst is needed. Sara Gherghelas, an analyst at DappRadar, said, "We should not expect the NFT market to experience a frenzy like in the past," and "A new catalyst is needed for the market to fully activate."