**NFT Market Shows Early Signs of Recovery After Major Crash**

The global non-fungible token (NFT) market is slowly bouncing back after suffering a massive drop of over 70% from its peak. Last year, the market was hit hard due to several reasons including global trade tensions, economic uncertainty, and declining investor confidence. However, recent data shows that interest in NFTs is starting to rise again.

Between January 12 and January 18, NFT trading volume reached $61 million — a small but positive increase of nearly 2% compared to the previous week, according to CryptoSlam.io. This is the first sign of stability after months of falling numbers.

### What Caused the NFT Market Crash?

The NFT market crash wasn’t just about digital art losing popularity. Several key factors played a role:
– Trade wars involving the U.S., China, and Canada
– Global economic slowdowns and inflation fears
– Security and utility concerns with many NFT projects
– Liquidation events in the crypto futures market
– A shift in investor mood from excitement to fear

All these combined caused NFT activity and trading volumes to plummet.

### NFT Traders Are Returning

Despite the tough year, more people are buying NFTs again. Over 140,000 traders took part in NFT transactions between January 12–18. Many investors see this dip as a buying opportunity, hoping prices will go up again in the future.

### Top Blockchains for NFTs This Week

1. **Ethereum** remained the leader in NFT trading. It recorded $29 million in volume last week, up 12%. Known for hosting major collections like Bored Ape Yacht Club and CryptoPunks, Ethereum continues to dominate the space.

2. **Bitcoin**, which supports NFT formats like Ordinals and BRC-20, came in second with $9.5 million in trading volume. However, its volume dropped by 7.39% from the week before.

3. **BNB Chain**, developed by Binance, saw $7.6 million in trades — a 3.1% increase. Its low fees and fast transactions make it popular for Web3 apps.

4. **Immutable X**, a layer-2 Ethereum network built for gaming NFTs, reached $4.1 million in trades — a 10% increase. Its gas-free, instant transactions are attracting more users.

5. **Panini**, known for its digital sports trading cards, recorded $2.6 million in NFT sales — a rise of over 4%. It runs on Hyperledger Sawtooth to ensure secure and authentic asset ownership.

### Most Traded NFT Collections This Week

1. **Yes Bond (BNB Chain)**: The top-selling collection this week with $3.1 million in sales, up 13%.

2. **CryptoPunks (Ethereum)**: Generated $2.7 million, though that’s down 12% from the previous week.

3. **Panini America**: With $2.4 million in trades, Panini’s licensed sports cards remain popular.

4. **Ape.bond**: A DeFi NFT collection that raised $2.2 million. These NFTs offer discounted tokens that unlock over time.

5. **Guild of Guardians Heroes (Immutable X)**: A gaming-based NFT collection that brought in $2.1 million, growing by 8.24%.

6. **Pudgy Penguins (Ethereum)**: These cute collectible NFTs earned $2 million but saw a slight dip of 2.17%.

7. **$X@AI (Bitcoin)**: A BRC-20 NFT project that surged by 48%, reaching $2 million in volume.

8. **Good Vibes Club (Ethereum)**: A stylish 3D profile picture collection created by an award-winning studio pulled in $2 million.

9. **$?? (Bitcoin)**: Another BRC-20 series that made $1.9 million in sales — up by 24%.

10. **Bored Ape Yacht Club (Ethereum)**: One of the most famous NFT collections saw a strong comeback with $1.7 million in trades — a jump of 29%.

### What’s Next for the NFT Market?

Experts believe the NFT market will continue to grow over the coming years, possibly reaching hundreds of billions by the mid-2030s. Growth will be fueled by:
– Gaming and virtual worlds (metaverse)
– Real utility beyond just collectibles
– Celebrities and brands entering the space
– Better tools using AI and machine learning to predict prices

While short-term ups and downs are expected, the long-term outlook remains optimistic. The market may not repeat the wild boom of 2021, but it’s evolving into something more sustainable and useful across industries.