KEY POINTS
The non-fungible token (NFT) market has experienced a significant decline in sales volume, dropping by nearly half within a month.
According to data from CryptoSlam, June sales totaled $462 million, representing a 46% decline from the previous month. This decline is even starker when compared to April’s sales of $1.2 billion and March’s $1.6 billion.
Some notable NFT sales in the last 30 days include CryptoPunks #627 for $836,149, Punk #50 for $306,725, and a Cardano-based NFT for $219,102.
However, these significant transactions have not been enough to boost the overall market, which already faced a substantial downturn in May, falling by nearly 50% compared to April.
In May, Bitcoin, Ethereum, and Solana all faced their lowest monthly sales of 2024, making it a challenging month for the market.
June proved to be even worse, with Ethereum-based NFT volume sales recording $145 million, a 50% drop from the previous month. Bitcoin-based NFT volume sales saw a 47% decline, while Solana-based NFTs experienced a 38% decrease.
Despite these downturns, the year has also seen some significant sales and achievements in the NFT space. The CryptoPunks NFT collection, for instance, recorded standout sales last month, pushing daily volumes close to $1.4 million, a 63% increase over the previous week.
In May, Bitcoin NFTs saw a surge, reaching $55 million in nine days and surpassing $4 billion in total sales, outperforming Ethereum.
