The NFT market has seen trading volume rise for four consecutive weeks, sparking debate on whether the bear market for digital collectibles is over. Recent data shows a modest recovery, with Q3 2024 volumes hitting $1.1 billion, driven by platforms like Blur and OpenSea. Ethereum remains dominant, while Solana and Bitcoin gain traction. However, 96% of NFT collections are "dead" with zero activity, and overall engagement remains low compared to 2021 peaks. While utility-driven NFTs and gaming show promise, speculative fervor hasn't returned. The uptick suggests renewed interest, but a full bull market recovery is uncertain without sustained demand and broader adoption.[](https://medium.com/nftscan/q3-2024-nft-market-report-trading-volume-exceeds-1-1-billion-amid-shifting-landscape-a4c94af0a70a)[](https://medium.com/%40FunNFT/96-of-nft-collections-considered-dead-in-2024-d8db86eb4f2a)