Market leader OpenSea saw small month-over-month gains in total NFTs sold and unique users. However, the overall USD sales volume decreased.
The data suggests that NFT trading in Solana markets has cooled so far in July compared to June.
As July draws to a close, monthly data to date from the top NFT market OpenSea suggests that Ethereum NFTs always sell at about the same rate in the middle of the crypto bear market, with the sales count and number of unique users remaining relatively stable compared to June. However, the total USD value of these NFTs sold has once again dropped significantly.
Analytics Platform Data Dunes shows around 1.61 million Ethereum NFTs sold so far in July on OpenSea, compared to 1.54 million for the whole of June, while the number of unique traders increased slightly from nearly 393,000 in June to more than 400,000 so far in July.
Despite slightly more users transacting on OpenSea and buying more collective NFTs overall in July, the value measured in US dollars has fallen: Dune is showing over $495 million in Ethereum NFT volume so far in July, against $695 million in June.
As of this writing, this is a 29% month-over-month decline in sales volume measured in US dollars. If recent daily trading trends continue, OpenSea could end the month with around $530 million in Ethereum trading volume, which would mark a decline of almost 24% month-over-month. Compare that to down 73% month over month from May to June as the crypto market crash took hold.
An NFT is a blockchain token that represents ownership of something, including digital assets such as artwork, profile pictures, and collectibles. The market produces $25 billion transaction volume value for all of 2021, according to data from DappRadar, and added nearly $20 billion more organic trade (excluding suspected “washing crafts”) until the first half of 2022.
OpenSea isn’t the only marketplace in the Ethereum space, but it’s the biggest by organic trading volume — nearly 82% of that in the week ending July 25, according to another. Dunes dashboard.
It generally provides a good idea of trading trends on Ethereum, by far the largest blockchain network for NFTs in terms of trading volume. Rival marketplaces LooksRare and X2Y2 are known to host large quantities of washing tradeor non-organic NFT transactions made at artificially inflated prices between wallets in order to earn business rewards.
We won’t have a full account of July’s overall NFT market trends until the end of the month, but current OpenSea NFT sales and user counts suggest that people are still buying and selling NFTs at a steady pace. regular, although at much lower average prices than before. This year.
Additional analytics platform data CryptoSlam indicates an average USD sell price of $451 per Ethereum NFT in the markets so far this month, compared to $691 in June. Both figures are significantly lower than previous months, including $2,436 in May and $3,109 in April. However, this may have as much to do with the decline in the price of ETH as it does with individual NFT prices. ETH was trading above $3,000 in April and has now fallen to around $1,700.
Meanwhile, NFT trading activity on the Solana blockchain platform has apparently slowed more significantly than on Ethereum. CryptoSlam shows $52.4 million in Solana NFT transactions so far in July, compared to $91.5 million for all of June, down nearly 43% based on current data, although this percentage is expected to drop as data for the rest of the month is added.
To date, the site is showing around 1.45 million NFT sales on Solana so far this month, compared to 1.56 million for the whole of June, with fewer than 110,000 unique buyers compared to nearly 136,000. unique buyers last month. Solana NFT’s average sale price has fallen from $212 in May to under $59 in June, and around $36 so far in July, per CryptoSlam. Like ETH, however, Solana’s native SOL cryptocurrency was trading in May for around double its current price.
The best NFT collection in the last 30 days, according to the site, is the Bored Ape Yacht Club with over $52 million in trading volume, followed by CryptoPunks at $49 million and NFT fantasy football game Sister at nearly $33 million. Apart from NBA best shot on To flowthe entire top 20 is made up of Ethereum-based NFT projects.
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