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Cardano JPG Store NFT Marketplace will close on May 23rd
CryptoWorld News reports that the main NFT marketplace on the Cardano network, JPG Store, entered “restricted mode” on April 23rd and plans to fully shut down on May 23rd. This timeline coincides with the Cardano voters’ decision on whether to invest $12 million into Bitcoin DeFi infrastructure projects, sparking a deep reflection on Cardano user activity. JPG Store has served the Cardano ecosystem since 2021 but has chosen to close due to an inability to sustain operations. According to DefiLlama data, Cardano’s total DeFi lock-up value is approximately $130 million, with $48 million in stablecoins locked, 24-hour decentralized exchange trading volume of $780k, and 24-hour NFT trading volume of $3,575. The closure of JPG Store is seen as an important signal of on-chain health, reflecting a lack of actual user demand.