This week’s whipsaw market movements test NFT traders’ resolve — What’s next?

It goes without question that there has been an influx of excited investors piling into Web3 and this is despite the decrease in total volume sales in the last seven days. Since the start of May, the total market capitalization for nonfungible tokens (NFTs) rose to over $19.44 billion with the total volume exceeding $1.3 billion in the last seven days. 

7-day NFT market capitalization / volume. Source: NFTgo.io

Although volumes are lower than usual, spectators are quick to wonder whether the…

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