In recent weeks, the upward momentum that carried the NFT market throughout the summer has given way to a calmer period. According to Bitget data, at the beginning of September weekly NFT trading volumes stood at over $115 million, but have since declined to $91.95 million.

This drop does not necessarily reflect a collapse in interest, but rather a normalization process following the summer spike. Projects that encouraged users to purchase new NFTs and build collections are now being approached with greater caution. Some artists and collection projects are shifting toward creating NFTs with utility (practical use cases), while speculative projects have seen trading volumes decline.

Observers note that this trend may signal the ecosystem’s maturation. The pattern is especially evident on blockchains with higher gas fees and in markets where investor expectations are being reshaped, Bitget reports.