NFT Trading Volumes Plunge Over 60% in February Following Crypto Market Downturn

In February 2025, NFT trading volumes experienced a significant decline, dropping over 60% compared to previous months. This downturn aligns with broader cryptocurrency market challenges, notably Bitcoin's substantial price decrease and major security breaches.

Bitcoin, the leading cryptocurrency, saw its price fall below $80,000, reaching a low of $78,197 before a slight recovery to $81,193. This decline reflects a 12% decrease for the year, contributing to reduced investor confidence across the crypto market.

Compounding the market's instability, a significant security breach occurred when North Korean hackers stole $1.5 billion from Bybit, the world's second-largest crypto exchange. This event not only affected Bybit's operations but also heightened concerns about the overall security of cryptocurrency platforms.

These factors collectively led to a decrease in NFT trading volumes, as investors became more cautious amidst the heightened volatility and security issues within the cryptocurrency ecosystem.

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