Cryptocurrency News

Sales plummet by 42% in June 2024

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The buying and selling of NFTs has seen a significant decrease in June 2024, with a 42.04% drop compared to the previous month.

Similarly, Bitcoin’s (BTC) price has also been on a downward trend, falling from its peak of $73k in March 2024 to around $56.5k currently, as reported by CoinMarketCap.

This report will examine these shifts in the market, analyze the top-selling NFT collections, identify the leading blockchains in terms of NFT sales volume, and offer insights into the future of the NFT market.

Key Highlights in June 2024:

The NFT market experienced a significant 42.04% decline in sales volume in June 2024, totaling $466 million, with decreases in buyers, sellers, and transactions.

The $Pizza BRC-20 NFT collection on the Bitcoin blockchain emerged as the top-selling collection with a trading volume of $30.29 million, while other collections like CryptoPunks and Bored Ape Yacht Club saw varying degrees of success.

Ethereum continued to be the predominant blockchain for NFT sales, recording over $150 million in sales volume, despite a 38.36% decline from the previous month.

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