According to DappRadar, NFT sales in the first five months of this year decreased by over 6% compared to the same period last year, to $8.5 billion. In contrast, in January 2022, the industry sold $17.2 billion worth of NFTs in one month, setting a new historical high. Last month, after the US Securities and Exchange Commission took the first step in approving ETF direct investment in Ethereum, investor sentiment further deteriorated. Nicolas Lallement, co-founder of NFT Price Floor, a data tracking company, said that some investors started to turn to Ethereum and sell NFTs before approval. The cryptocurrency market is a capital rotation, and it is foreseeable that Ethereum will continue to attract and absorb market capital and cause prices of other assets to fall.