What is the impact of the crypto plunge on the new NFT market?

1 answers

• Dec 17, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, believes that the impact of the crypto plunge on the new NFT market is temporary. They argue that the NFT market has its own unique dynamics and is not solely dependent on cryptocurrency prices. While the recent drop in crypto prices may have caused some short-term turbulence, BYDFi expects the NFT market to bounce back and continue its growth trajectory. They emphasize the importance of focusing on the long-term potential of NFTs and the underlying technology rather than being swayed by short-term market fluctuations. According to BYDFi, the crypto plunge could even be seen as a healthy correction that brings more stability and sustainability to the NFT market.
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