This is what Polkadot [DOT]’s latest formation means for traders
Can Aave Protocol’s latest “stablecoin” bring some stability in the performance of AAVE?
Tezos: How XTZ traders can leverage this pattern’s break to remain profitable
Are XRP whales responsible for the alt’s restricted price movements?
Tether [USDT]: Whales and what a new 3-year low means for the stablecoin
Analyst on Bitcoin – ‘Risk v. rewards is tilting towards…’
Gensler’s ‘legendary’ opposition to spot Bitcoin ETFs gets a new critic
Should you sell Bitcoin [BTC]? Here’s what its recovery prospects are like
Bitcoin [BTC]’s hashrate and what its fall means for miners and their shutdown price
Identifying what’s stopping Bitcoin [BTC] from climbing the charts
What inflows worth $51M in short-Bitcoin investment products mean
Why Ethereum investors remain uncertain despite ETH’s 9% gains
Ethereum [ETH] miners’ revenue check amid ‘Merge’ anticipation
For Ethereum traders, this could be a profitable course of action
The opportunity cost of ETH 2.0 deposits hitting an ATH is…
Published
on
By
While NFT enthusiasts continue to bask in the euphoria of the 2021 boom in the ecosystem, the general downturn of the cryptocurrency market continued to affect the sales volume of NFTs in the last few months. According to data from NFTgo, the total sales volume of NFT collections across marketplaces saw a 61% decline in June. Also, within the last 30 days, the market capitalization of the entire NFTs market saw a 15% drop.
Furthermore, the sales volumes of blue-chip projects such as Bored Apes, Otherdeed, and Art Blocks dropped by 61%, 89%, and 63% within the last 30 days. OpenSea, the world’s most popular NFT marketplace, also recorded some declines in June compared to its performance in May. OpenSea Ethereum and Opensea Polygon witnessed some notable drops as well.
According to data from Dune Analytics, in May, OpenSea Ethereum logged a sales volume of $2.59 billion. However, in June, with $696 million recorded in sales volume, a 73% decline was recorded.
Source: Dune Analytics
Similarly, the OpenSea Polygon sales volume saw a 66% decline from the $26.65 million recorded in May to the $8,856,717 recorded in the month of June.
Source: Dune Analytics
Data from Dune Analytics also revealed that the total count of NFTs sold on OpenSea Ethereum grew by 4%. In May, the count for the total NFTs sold stood at 1,478,553. In June, a total of 1,543,975 NFTs were sold.
Source: Dune Analytics
However, OpenSea Polygon told a different story. With a 49% decline registered in June, the count for the total NFTs sold stood at 154,282.
Source: Dune Analytics
Furthermore, in June, OpenSea Ethereum saw an index of 393,737 as its monthly active traders. With 422,295 monthly active traders recorded in May, a 7% decline was seen on this front.
Similarly, the index for monthly active traders on Opensea Polygon was no different, as a drop of over 45% was recorded in June.
According to data from NFTGo, over the last 30 days, the total number of unique addresses that bought or sold at least one NFT from any of the collections listed on the analytics platform dropped by 11.97%.
This brought the total number of traders across NFTs marketplaces in June to 313 341. In June, the indexes for unique buyers and sellers of NFTs saw a drop of 17% and 8%, respectively.
Source: NFTGo
Chainlink: Effects of this pattern’s break on LINK’s technicals could be…
Convex Finance [CVX] investors pull off a Shiba Inu move, here’s how
Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience. With a keen interest in blockchain technology and its limitless possibilities, Abiodun spends his time understanding the technology, building projects, and educating people about it.
‘NBA Top Shot’ leads with a 901.95% spike in sales volume while BAYC…
CryptoPunks, BAYC, MAYC, Azuki- Is price the antithesis of sales volume
Was it a lot of May-hem for OpenSea Ethereum and Polygon last month
Can the MoonBirds fly again after muted interest post launch and poor volumes
NFTs invoke Muse as report card for May 2022 reveals…
Where is OpenSea Solana in the NFT race? The truth is…
Your email address will not be published.
document.getElementById( “ak_js_1” ).setAttribute( “value”, ( new Date() ).getTime() );
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
