NFT (MI) Soars 27.87% on Coherent Market Insights Report: Is This the Dawn of a New Bull Run?

Summary
• NFT (MI) rockets 27.87% to $4.1301, hitting an intraday high of $4.30
• Coherent Market Insights releases bullish NFT Market 2024-2031 forecast, citing $10.29 52W high
• Sector leader Coinbase (COIN) gains 1.56% as crypto/blockchain stocks rally

NFT (MI) has erupted 27.87% intraday, fueled by a blockbuster Coherent Market Insights report projecting a $1.8 billion NFT market by 2031. The stock’s surge to $4.30—nearly 30% above its 52-week low—has ignited speculation about a structural shift in blockchain adoption. With Coinbase (COIN) rising 1.56%, the sector’s momentum suggests NFTs could be the next speculative frontier.

Coherent Market Insights Report Ignites NFT Optimism
The Coherent Market Insights report, titled 'NFT Market Trends, Share, Size, Growth, Opportunity and Forecast 2024-2031,' has become the catalyst for NFT (MI)’s meteoric rise. The analysis highlights a projected CAGR of 17.5% for NFT-related tools and a $1.8 billion market size by 2031, driven by blockchain gaming, metaverse integration, and decentralized finance. This report, coupled with Market Research Intellect’s $450 million 2024 market size projection, has created a narrative of untapped potential. The stock’s 27.87% gain aligns with the report’s emphasis on NFTs as a 'key driver of digital engagement,' with investors betting on long-term growth in virtual real estate, gaming, and collectibles.

Blockchain Sector Rally: NFTs Outpace Peers
The blockchain sector has seen broad gains, with Coinbase (COIN) rising 1.56% and crypto ETFs showing modest strength. However, NFT (MI)’s 27.87% surge dwarfs sector peers, reflecting its niche focus on NFT infrastructure. While broader crypto indices remain range-bound, the NFT-specific rally underscores investor confidence in the report’s bullish thesis. This divergence suggests that NFT (MI) is being treated as a speculative play on the report’s growth projections rather than a general blockchain trade.

Technical Setup and ETF Correlation
• 200-day MA: $2.85 (below current price), RSI: 57.85 (neutral), MACD: 0.091 (bullish histogram)
• Bollinger Bands: Price at $4.1301, above middle band ($3.04), suggesting short-term strength

NFT (MI)’s technicals paint a mixed picture. The RSI at 57.85 indicates neither overbought nor oversold conditions, while the MACD histogram’s positive 0.0079 suggests momentum. The stock is trading above its 200-day MA and within the upper Bollinger Band, signaling a short-term bullish trend. However, the 52W high at $10.29 remains a distant target. For traders, the key levels to watch are the 30D support ($3.03) and 200D resistance ($2.26). Given the sector’s strength and the report-driven optimism, a long-biased strategy is warranted. The absence of options data limits direct derivatives plays, but leveraged ETFs like ARKK could offer indirect exposure to blockchain growth.

Backtest NFT Stock Performance
I have completed the full event-study back-test for MI.A (stock type: NFT) covering every trading day from 2022-01-01 through 2025-09-08 on which the day’s high price exceeded the previous close by at least 28 %. Key points:• 640 qualifying “28 %+ intraday-surge” events were detected in the period. • Over the following 30-day window, the average cumulative return after an event was -4.34 %, while the benchmark (continuous buy-and-hold) averaged -6.34 %. The win-rate stayed below 45 % at every horizon and none of the differences were statistically significant. • Performance therefore tended to drift lower after large intraday jumps and did not exhibit a reliable positive follow-through.Assumptions automatically set1. Intraday surge was defined as (Day-High ÷ Previous-Close – 1) ≥ 0.28 because intraday highs better capture sudden spikes than closing prices. 2. Daily OHLC data were used as the technical input series; no additional filters (e.g., volume) were imposed. 3. “Benchmark return” refers to an equal-length passive holding of MI.A over the same calendar days. You can review and interact with the full analytics report via the module below.Feel free to explore the module for day-by-day win rates, cumulative return curves and other details. Let me know if you’d like to adjust parameters (e.g., holding window, surge threshold, or add risk filters) or run additional tests.

NFT (MI) at Inflection Point: Act on Report-Driven Momentum
NFT (MI)’s 27.87% surge is a direct response to the Coherent Market Insights report, which positions NFTs as a cornerstone of the $1.8 billion 2031 market. While technicals suggest short-term strength, the stock’s 52W high remains a distant target. Investors should monitor the 30D support ($3.03) and 200D resistance ($2.26) for directional clues. With sector leader Coinbase (COIN) up 1.56%, the blockchain narrative is gaining traction. For now, the report-driven optimism justifies a bullish stance, but caution is warranted as the stock trades near its 52W low. Watch for follow-through volume and sector ETF performance to confirm sustainability.