According to On-Chain data, between May and June, Non-Fungible Token (NFT) market volume witnessed an unprecedented decline.
The Block ResearchThe latest data from NFT monthly trading volumes May and June between the months 74% drop proved to be alive. According to the data May per month 4 billion dollars total NFT market volume, June per month $1.04 billion as much as one suffered a retreat. This development, which means the highest rate of volume decrease to date, is expected to reach the end of 2022. February and March between the months 48% The volume decline was over.
Despite the drop in volumes in the overall NFT market Left (LEFT) based Magic Eden An increase was observed in the volumes of the NFT market. OpenSeaof this year April Magic Eden’s market share volume growth against OpenSea continued, even after adding support for Solana NFTs in May. Magic Eden predicts total NFT market trading volume at the beginning of 2022. 0.1%and now this volume 10%It appears to have reached more than .
Also blockchain analytics service nansen A report published by first-time NFT buyers this year March since the month 5 thousand users remaining relatively stable at its level, EthereumIndicates continued interest in NFTs in . In the report evaluating the indices in the NFT field, “At the end of the second quarter of 2022 Gaming NFTIndices, except for When measured in Ethereum made a leap in June” expressions were used.
nansen, June After this slight increase in index performance during the month, “NFT trend reversalfrom the general cryptocurrency market started earlier. in the NFT market sense of risk aversion still quite obvious and limited liquidity This indicates that this upward trend cannot continue.” made its conclusion.