1. PixelPlaygroundHome
  2. Web3 News

The Impact of the Silicon Valley Bank Collapse on NFT Trading Volume

• Web3 News • 130 views

The Impact of the Silicon Valley Bank Collapse on NFT Trading Volume

On March 17th, according to a report by DappRadar on March 16th, before the collapse of the Silicon Valley bank on March 10th, NFT trading volume hovered between $68 million and $74 million, and then fell to $36 million on March 12th. From March 9 to March 11, the daily sales volume of NFT decreased by 27.9%.

DappRadar: The collapse of banks in Silicon Valley has led to a significant impact on NFT trading volume

Analysis based on this information:


The NFT market has been rapidly growing in recent months, attracting investors and art-lovers alike. However, a recent report by DappRadar suggests that the Silicon Valley bank collapse has had a significant impact on NFT trading volume.

Before the collapse on March 10th, NFT trading volume was hovering between $68 million and $74 million. However, after the collapse, the volume fell to $36 million on March 12th. This indicates that the collapse had a sudden and dramatic effect on the market.

Moreover, the daily sales volume of NFT decreased by 27.9% from March 9 to March 11. This decline suggests that investors and collectors became cautious about investing in NFTs after the bank collapse.

The collapse of the Silicon Valley bank is a significant event that has impacted various industries worldwide. However, its effect on the NFT market is particularly noteworthy. This is because the NFT market is still relatively new and volatile. As a result, it tends to be more sensitive to external factors such as market fluctuations, social media hype, and economic events.

The bank collapse has also highlighted the need for increased regulation in the NFT market. As the market continues to expand, there is a growing concern about the authenticity and ownership of NFTs. Therefore, it is essential to establish clear legal and ethical guidelines to protect investors and creators.

In conclusion, the collapse of the Silicon Valley bank has had a significant impact on the NFT market, causing a sudden decline in trading volume. However, this event also highlights the need for regulation and transparency in the market. As the NFT market continues to evolve, it is crucial to establish clear guidelines to ensure its long-term sustainability and viability.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/6409/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/17/2023 05:18
Next 03/17/2023 05:40

Recommended articles