Market Macro Analytics

NFTGo.io has released multiple features to help users have a better overview of the NFT market. The features created track different market metrics, for users to understand the different aspects of the market.

The 2 particular aspects that are important for understanding market macro is the market sentiment and Blue Chip Index which will be described in later sections. For now, we will focus on the broader metrics pertaining to the market macro.

Market Cap & Volume

A very clear reflection of the market's performance would be the market cap and volume. Market cap is essentially a measure of the value of all NFTs within the market. Given that the NFT value is highly dependent on market sentiments, an increasing market cap trend indicates bullish sentiments within the market and vice versa, a declining market cap is reflective of bearish sentiments.

Volume is also a good indicator of whether there is active market participation. A lower trading volume could potentially reflect that traders/investors are sitting out of the market as they foresee a drop in value.

2546

Holders & Traders

Consumer behavior drives industry trends. Hence, it is also interesting to analyze consumer behavior over time, as the historical data could potentially help users identify some short term trends.

2540

Category Market Cap & Volume

The NFT market is broadly categorised into 14 types: Game, Collectibles, PFP, Art, Metaverse, DeFi, IP, Social, Music, Utility, Land, Domain Name, Sports, Photography. Categories. With this feature, users are able to get a grasp of where bulk of the market value is in.

Category volume highlights the trading volume within each category, based on the desired time period. This is a very good indicator in helping users identify the industry trend. As evident over the past year, trends shift within the NFT marketplace and certain categories of NFTs become the talk of the town during certain periods, this is when the transaction volume within such categories will increase.

2538