In the meantime, NFT trading volumes continue to collapse
Brandt has been rather dismissive of altcoins in the past, which is why his negative attitude toward NFTs wasn’t a surprise. However, the trader has now seemingly recognized the promise of the technology.As, NFT volumes collapsed in the third quarter. In September, digital collectibles recorded only $466 million worth of trading volume, plunging 97% from last year.
NFTs started rapidly losing steam due to plummeting cryptocurrency prices. Bitcoin and some blue-chip altcoins have lost more than 70% of their value from their 2021 peak. Yet, major companies continue to submit NFT-related trademark filings, which indicates that this technology is unlikely to go away despite plunging trading volumes.
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