NFT status is not all The fate and darkness in the midst of the bear market.
Total amount of Ethereum According to the report, NFT transactions fell 55% last month from 1.3 million ETH to just 584,000 ETH. Nansen data.It’s a drop from directly below $ 2.6 billion That’s about $ 672 million. This is a reduction of about 70% when valued in US dollars.
Ethereum prices fell about 43% last month. The price of “good companies” NFTs has not risen to make up for it. So, overall, you’re changing hands with less money.
Among the top five NFT collections ranked by OpenSea, the average price of ETH remains more or less stagnant, Boring Ape Yacht Club NFT prices are still around 100 ETH. CryptoPunks is an exception, with Christie’s head of digital sales becoming Punks, raising buy-in floor prices by 48%. New brand lead this month.
NFT Traders still buy and sell these unique blockchain tokens that show ownership of digital art. They are just buying cheaper ones.apeingFor free mint favorite Goblin Town,Was started wave A free NFT collection with a focus on excrement, nihilism and memes.
Around CryptoSlam dataThe average selling price of Ethereum NFTs fell 71% from $ 2,463 in May to just $ 703. Therefore, as the crypto bear market continues, NFTs are being bought cheaper overall.
In May, 1,477,000 NFTs were sold on the OpenSea platform. As of Wednesday, June, 1,476,000 were sold, so there’s a good chance. more NFTs will actually be on sale this month compared to May. May numbers were also greatly supported by Yuga Labs Other NFTs,saw $ 651 million Traded within 24 hours.
Regarding the total number of traders, OpenSea states that the number of registered users who have made at least one transaction in the market has increased by 6.5%. Dune data..Number of Active The number of Ethereum NFT traders has decreased by 16% from about 422,000 to 354,000 with only a slight decrease.
According to Nansen data, the number of weekly active NFT projects with sales hasn’t diminished too much. Compared to last month, we see over 10,000 sales in the same number of NFT collections (3). The number of collections with sales over 1,000 this month has decreased by only 30% from 109 to 76. This means that NFT creators, especially those with the highest market capitalization, are still making sales.
So while overall trading volume could drop 55% to 70% on ETH and USD respectively, traders are still on the move. So far, NFT enthusiasts seem to haven’t lost hope yet, even though they are now buying and selling cheaply.
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