April has been a tough month for the NFT market — with April 19 being the second-lowest day for buyers in the past twelve months, according to recent data
market has consistently seen more sellers than buyers, without a single exception.from the analytics platform NFTGo, there were only 7,907 buyers on April 26, while there were 8,641 attempting to sell their NFTs.
Days before, on April 19, the NFT market hit its second lowest point in the past twelve months, with only 5,893 buyers – a slight increase from the lowest recorded date in the past twelve months, which was on June 18, 2022, with 5,343 buyers.Based on the data, there hasn’t been a single day in April where the number of buyers outnumbered the number of sellers in the NFT market, indicating a potential lack of demand which could be concerning for sellers planning to sell their NFT soon.
The last recorded day buyers exceeded sellers was on March 11, when there were 9,756 buyers and 9,754 sellers. Graph showing the total number of daily buyers, sellers and holders on the NFT market. Source: nftgo.ioOvie Faruq, the co-founder of Canary Labs, stated in a tweet on April 26 that the NFT market is “not functioning” at the moment.This market is not functioning atm.
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