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Ethereum NFT Activity Hits Lowest Point Since H1 2021

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Ethereum Nft Activity Declines To Lowest Level Since H1 2021

The non-fungible token (NFT) market is barely crawling, waiting for some opportunity for revival. The second quarter of 2024 saw positive dynamics, but the increase was mostly driven by Bitcoin NFTs. The metrics for Ethereum NFTs suggest a grim picture.

For example, the number of unique Ethereum NFT traders on the top 15 marketplaces dropped for the sixth month in a row in June, reaching the lowest level since July 2021.

The metric is still dominated by OpenSea, which saw over 76,000 traders in June versus Blur’s approximately 24,000.

The number of Ethereum NFT trades on the top 15 marketplaces tracked by The Block declined last month to the lowest since May 2021. Out of the total 203,970 trades recorded by these exchanges, 106,100 were processed by Blur and 94,500 by OpenSea.

Meanwhile, monthly revenue on the top 20 Ethereum NFT marketplaces dropped to the lowest level since January 2021, according to data from Token Terminal.

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