[NFT Market Cap Falls Back to Pre-2021 Boom Levels, Near $1.5 Billion] According to Cointelegraph, the global NFT market's total market cap has fallen below $1.5 billion, returning to levels seen before the industry's explosive growth in 2021. The market adjustment is accompanied by an intensifying imbalance between NFT supply and demand. Data shows that by 2025, the circulating number of NFTs will grow by 25% to nearly 1.3 billion, but total sales revenue will decline by 37% year-on-year to $5.6 billion, with the average price dropping below $100. This indicates that lower issuance thresholds have led to a continuous increase in supply, while buyer engagement and spending have failed to keep pace. The industry's contraction is also reflected in the exit of several well-known companies and the shutdown of platforms.