
The NFT Market Stirs Again: A Comeback After $1.2 Billion Disappearance
In the quiet lull after Friday’s tempest, the NFT universe has shown signs of awakening. The digital art realm, bruised by a sudden $1.2 billion wipeout, is now attempting to reclaim its pulse—and the first flickers of revival are stirring.
From a peak of roughly $6.2 billion, the collective value of NFTs tumbled to near $5 billion by Saturday. That collapse signaled more than panic—it highlighted the fragility of sentiment, the sensitivity of collectors, and the thin line between fever and folly. Yet, by Sunday, the market clawed back upward: valuations nudged back toward $5.5 billion, posting a modest but meaningful rebound.
Still, beneath the broad metrics lies a more conflicted picture. Leading Ethereum collections such as Bored Ape Yacht Club, CryptoPunks, and Pudgy Penguins persist in the red on weekly and monthly charts. Their base prices have not yet healed; the drop had penetrated deep, shaking confidence even among long-term holders.
Yet the recovery, however tentative, suggests more than blind optimism. It shows that selective pursuit survives in the wreckage—some buyers remain undeterred. A few niche collections, less famous but more agile, have posted modest gains within 24 hours. The scarcity of liquidity during the crash may have filtered out weaker hands, leaving only those with conviction to hold or re-enter.
This episode underscores a deeper truth: NFTs are tethered not just to art or community, but to the broader rhythms of crypto volatility. When markets shudder, speculative assets feel the tremors first. Floor prices fall, trading dries, and those whose appetite is shallow retreat. Recovery then depends not only on renewed energy, but on trust: in creators, in platforms, and in the stability of the wider crypto terrain.
For the weeks ahead, the question looms: can this spark kindle a sustained rally, or will it flicker out before it finds oxygen? The top collections remain wounded. New entrants will watch closely, measuring whether this rebound is the tremor before another shock—or the prelude to a rise.
Source: Cointelegraph — “NFT Markets Rebound After $1.2B Wipeout in Friday’s Crypto Crash”