Check your wallet: Your NFTs may not be worth that much anymore.

After months of viral stories about funny headlines How did most NFTs become “worthless”?which is decreasing NFT The market is finally showing real signs of life.

In recent weeks, sales have increased steadily, with the volume of trade in October It was up 32 percent in September. And Daily trading volume is increasing. Every last few days. Popular NFT prices are increasing, too, and not just because of the rise in crypto prices. And yes, people are spending six-figure sums on JPG stone examples.

are we back Not very fast. As these hints of euphoria begin to whip traders into a frenzy again, sales peaks and prices in 2018. They are nowhere near the levels seen in 2021 and early 2022 when NFTs generate billions of dollars in monthly sales.

But after a pretty good year and a half for NFTs, the numbers and broader sentiment are finally changing. And if you have NFTs sitting in your wallet, they may be worth more now than they have been in months.

Better yet – people might actually want to buy them. Here's what you need to know about the rebirth of the NFT market.

Prices are increasing.

Cryptocurrency is heating up again. Bitcoin increased by 38% More than $37,000 for the current price in the last 30 days — more than double what it was at this time last year. And Ethereum increased by 33%Also, see even bigger profits with some altcoins.

The rise in crypto prices also helps drive NFT prices, but it's not the whole story. For example, some large NFT projects have seen floors or the cheapest listed NFT price in the marketplace.

In terms of US dollars, Cryptopunks Floor increased 82% in the last 30 days to $125,500, the Boring Monkey Boat Club Price floor from 67% to $ 65,000, and Azuki NFTs are up 107% to $13,200. In Ethereum (ETH) terms, however, Punks are up 31 percent, Monkeys are up 25 percent, and Azuki assets are up 48 percent.

In other words, the owners of those NFTs demanded ETH at a high level a month ago; And The price of ETH has also jumped significantly. Go to the line NFT price floortracking NFT values ​​and all but two of the 50 sets of total market capitalization have shown gains in US dollar prices over the past 30 days.

Of course, there are many projects that probably won't post big profits and never return to “blue chip” status. But if Examples of marked stones It could sell for $100,000 or more and destroy the “Simpsons” NFTs. It generates millions of dollars in business.Then again, who knows which projects will continue to command attention?

Sales have also increased.

If no one buys NFTs, price increases are pointless, but sales are also increasing.

As mentioned, the data source is DappRadar It showed a 32 percent increase month-on-month. NFT sales jumped from $306 million in September to $405 million in October.

And as Information on the chain on the dune Daily NFT trading volume, compiled by data analyst Hildobi, has increased for five consecutive days this week, hitting a new three-month high of more than $24 million on Thursday. There are also more traders in the mix, with Tuesday seeing the most unique one-day high in at least three months at 16,615.

Sales information from Crypto Islam There has been a significant increase in trading activity for popular NFT collections. Board Monkey Business has risen 140% to $35.7 million in the last 30 days. The gods are not bound NFT trading cards rose 22 percent to $19.4 million during that period.

Of course, not everything is positive. DraftKings NFT For fantasy game Reignmakers, it fell 40% last month to $11.7 million; sister NFT card transactions fell nearly 7 percent last month to $11.5 million. And trading on the Ethereum network Polygon It's down 58 percent in the last 30 days, CryptoSlam said.

But overall, NFT trading is on the rise. CryptoSlam's own data shows a 22 percent increase in trading volume over the past 30 days for the projects and chains it tracks.

The vibes are returning.

After more than a year of declines for both crypto prices and NFT sales, these latest green shoots and signs of life are creating excitement around the market. Crypto Twitter is full of long-term traders fueling the fires of excitement with massive NFT purchases.

Although not all good feelings. OpenSea, the leading marketplace for NFTs until earlier this year; He fired half of his team last Friday. And it was reported that it was Price reduced by 90% By Investor Coatue. And last weekend, attendees of ApeFest Hong Kong—the exclusive celebration for Bored Ape NFT owners—They complained of eye painIt seems because The wrong UV lamps are used.

And the thing is important. While the 32% month-over-month increase in NFT trading volume is a positive sign, October's revenue of $405 million is still a far cry from the previous one. It traded around $5 billion. Peak month in January 2022. And the $65,000 price tag for Bored Monkeys is a shame $429,000 worth of ETH since April 2022.

As such, Bitcoin is still down 46% from its peak since November 2021. On the other hand, the value of Bitcoin has more than that. It has doubled. From this time last year. It's all relative.

We are still on the cusp of the first NFT boom craze and crypto trading frenzy, however Things are happening. And joy abounds. And if you bought some NFTs during the bullish cycle, it's worth looking at them—they might not be so worthless after all.

Edited by Guillermo Jimenez