Bybit to shut down NFT marketplace as market slumps

Bybit Exchange will shut down its NFT marketplace, Inscription Marketplace and decentralized exchange offering on April 8, as part of a broader service streamlining, according to Cointelegraph. The move reflects the steep decline in the NFT market, with daily trading volume down 70% from last year and over 95% since December 2024. Investor interest in speculative NFTs continues to fade, though some projects like Doodles and Pudgy Penguins remain resilient.