NFT Sales Fall 46% In June 2024

The non-fungible token market sales have tanked again this month, following the footprints of its parent crypto market, which has also lost its initial traction in recent days.

Non-fungible token (NFT) sales have declined again this month, following the footsteps of its parent crypto market which has also lost its initial traction in recent days.

Here we assess the full market health of the NFT market this month:

NFT Sales Fall 46% In June 2024

Data compiled by cryptoslam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token explorer, indicates that the NFT market has fallen again in trading sales this month. Last month, the NFT market sales fell 54%, marking the lowest sales since October 2023.

The NFT market has shrunk again in trading sales volume this month, with several blue-ship non-fungible token collections shielding more than 20% of the floor price value. In the past 30 days, the NFT market has amassed a trading sales volume of $478 million, displaying a 46% plunge from the past month.

Ethereum, the blockchain network powering Ether crypto and renowned in the NFT market for powering the majority of blue-chip non-fungible token collections, has been this month’s most traded blockchain network in the NFT ecosystem. In the past 30 days, the Ethereum-based non-fungible token collections have amassed a trading sales volume of $148 million. Nonetheless, the Ethereum NFT trading sales volume has further reduced by 49% from the past month.

Bitcoin, the same blockchain network powering the flagship crypto, Bitcoin, and renowned in the NFT market for hosting Runes and Ordinals collections, has been this month’s second most-traded blockchain network in the NFT ecosystem. In the past 30 days, the Bitcoin-based non-fungible token collections have amassed a trading sales volume of $117 million, crawling behind Ethereum. However, the volume of Bitcoin NFT trading sales has reduced by 47% this month.

Non-fungible tokens hosted on the Polygon, an Ethereum scaling blockchain network, have been this month’s third most-traded NFT collections, outpacing dominant Solana products. In the past 30 days, the Polygon-based NFT collections have amassed a trading sales volume of $80 million. During this time, Polygon NFT trading sales volume has surged 3.50% from the past month.

Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications and Mythos Chain, have been this month’s fourth and fifth most-traded blockchain networks in the NFT ecosystem. In the past 30 days, the Solana-based NFT collections have amassed a trading sales volume of $69 million, while Mythos Chain-based NFT collections have recorded a trading sales volume of $20 million. During this time, the Solana NFT trading sales volume has plunged 42%, while Mythos Chain NFT sales volume has plunged 20% from the past month.

Despite the fall in trading sales volume, the total number of crypto traders that have bought non-fungible tokens has increased this month. In the past 30 days, the NFT market has seen more than 1.2 million purchasing different non-fungible tokens, representing a 1701% spike from the past month.

Top Selling NFTs In The Past 30 Days

1. $Pizza BRC-20 NFT Collection

$Pizza, a new non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been this month’s top most-selling non-fungible token collection. In the past 30 days, the $Pizza BRC-20 NFT collection has recorded a trading sales volume of $29 million.

2. DMarket NFT Collection

DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted on the Mythos Chain network, has been this month’s second most-selling NFT collection. In the past 30 days, the DMarket NFT collection has recorded a trading sales volume of $18 million. During this time, the DMarket NFT trading sales volume has plunged 21% from the past month.

3. CryptoPunks NFT Collection

CryptoPunks, a non-fungible token collection previously from the digital asset firm Larva Labs but now managed by the digital asset firm Yuga Labs and features a limited set of 10,000 NFTs

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