Ethereum

Bitcoin

Polygon

Mythos

The non-fungible token (NFT) market experienced a remarkable drop in activity over the past month, with significant dips across various metrics. 
According to Crypto Slam <a href="https://www.cryptoslam.io/" target="_blank" rel="">data</a>: 
<ul> 
 <li>Global NFT sales volume reached $476.3 million in June, marking a 47.22% decrease.</li> 
 <li>The number of NFT buyers skyrocketed to 1.259 million — an astonishing 1700.83% increase.</li> 
 <li>The number of sellers climbed to 744,965 — up by 1059.64%.</li> 
 <li>The increase in buyers and sellers was juxtaposed against a 51.4% drop in NFT transactions month-over-month</li> 
</ul> 
<h2 class="wp-block-heading" id="strong-top-blockchains-by-nft-sales-volume-strong">Top blockchains by NFT sales volume</h2> 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14282200"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/06/Screenshot-Capture-2024-06-30-19-28-54-1024x556.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="556" src="https://crypto.news/app/uploads/2024/06/Screenshot-Capture-2024-06-30-19-28-54-1024x556.png" alt="NFT market in flux: June sales drop 47% but there are more buyers and sellers - 25"> 
 </picture> 
 <figcaption class="wp-element-caption">
 Blockchains by monthly NFT sales volume | Source: CryptoSlam
 </figcaption>
</figure> 
Here’s a closer look at the top five blockchain: 
<ul> 
 <li>Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) once again led the pack in blockchain sales volume, recording more than $147.5 million in NFT sales, with a notable $123 million attributed to wash trading. Including these wash trades, the total sales stood at $270.5 million. The network attracted 55,449 buyers, reflecting a 95.41% increase.&nbsp;</li> 
 <li>Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) has emerged as a formidable contender in the NFT space. Despite a nearly 48% drop, it still achieved more than $117 million in sales with minimal wash trading influence. The network also had 59,482 buyers actively participating, a number that was roughly similar to May’s figures.</li> 
 <li>Polygon (<a href="https://crypto.news/price/polygon/" target="_blank" rel="noreferrer noopener">MATIC</a>) came in at third, demonstrating its growing influence with $80.2 million in sales. The figure was a 3.35% uptick from the previous month, with more than 245,000 buyers actively trading NFTs on the platform.</li> 
 <li>The Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>) NFT market recorded the fourth-largest NFT sales volume, raking in more than $69.2 million in sales. However, the amount was still 42.82% lower than last month’s figures.&nbsp;Counting about $2.65 million attributed to wash trading, Solana’s total sales reached $71.9 million from 580,100 buyers.</li> 
 <li>Mythos Chain (<a href="https://coinmarketcap.com/currencies/mythos/" target="_blank" rel="">MYTH</a>) saw $20.1 million in NFT sales in June, with wash trades contributing another $134,185 to its total sales figure. The blockchain also had more buyers than Ethereum, with 57,269 getting their NFTs from there.</li> 
</ul> 
 You might also like: <a href="https://crypto.news/sec-consensys-mica-vaneck-solana-etf-weekly-recap/"> SEC sues Consensys, MiCA goes live, VanEck files first-ever Solana ETF | Weekly Recap </a> 
<h2 class="wp-block-heading" id="strong-leading-nft-collections-in-june-strong">Leading NFT collections in June</h2> 
Despite the general market downturn, several NFT collections stood out in June. 
$PIZZA BRC-20 NFTs on <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> led the pack, with $29.1 million in sales from more than 43,000 transactions. See below. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcbDBrBANIQbx-BtNbUIUbfTf9KGYv_7441PBTECM_q7U8oBzmcjrHvrLt12oUBK74QILyDTRRJ7N7POuiKCrqwSHAoFbZvqYh7ug0KOt5tJX13wOkJLA-U-9vZhVaBkqZjgc-8WYiyhuebePuFGWFS9ts?key=wmEb2NihRClO2zRoul9NIw" alt="NFT market in flux: June sales drop 47% but there are more buyers and sellers - 26">
 <figcaption class="wp-element-caption">
 NFT collection rankings by monthly sales volume | Source: CryptoSlam
 </figcaption>
</figure> 
DMarket on Mythos followed with $18.9 million in sales from nearly 830,000 transactions. However, the collection’s earnings were 21.8% lower than the previous month.&nbsp; 
CryptoPunks on Ethereum continued to be a strong performer, generating $16,405,442 in sales from just 141 transactions. The Bored Ape Yacht Club (BAYC) also maintained its popularity, with sales jumping 6.54% to $13 million.&nbsp; 
Another Bitcoin collection, NodeMonkes, rounded out the top five, with $12.7 million in sales from 929 transactions. 
Polygon’s OKX NFT Creation enjoyed the highest percentage growth over the last 30 days, with its sales volume going up a whopping 132,509.44% to hit $2.4 million. 
Conversely, the worst-performing NFT collection in June was Blast’s Fantasy Top, which registered an 83.33 drop in sales volume, closely followed by DeGods on Ethereum, whose sales plummeted 82.9%. 
<h3 class="wp-block-heading" id="strong-top-selling-nfts-of-the-month-strong">Top-selling NFTs of the month</h3> 
Regarding top-priced NFT collectibles, CryptoPunks #627 sold for a staggering $836,149 on Ethereum, making it the highest sale of the month. Punk #50 from Bitcoin’s Ordinal Punks collection fetched $306,725, while a Cardano NFT sold for $219,102.&nbsp; 
The Solana blockchain was represented by Mad Lads #4575, which went for $110,917, while TTAvatars #1280003 on Polygon changed hands for $100,500. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdYAXKTRWyovRKbx9PAHKShbnfmyKCbJ-mrJnyPm_2qFoUfGKv7moD6aP814NX7OVB-1wO3H2ULX6zMZD6tLFibvccI3m-m50kTJntI2W8Roc76ZCRpTIFZrVA8-V7EOrI7d9e6u8QfV8vwsvnALSUjwgj2?key=wmEb2NihRClO2zRoul9NIw" alt="NFT market in flux: June sales drop 47% but there are more buyers and sellers - 27">
 <figcaption class="wp-element-caption">
 Top fan tokens by monthly sales volume | Source: CryptoSlam
 </figcaption>
</figure> 
The fan token market also saw substantial activity. 
The AS Roma (ASR) token led with $1,27 billion in sales on the Chiliz blockchain. Galatasaray’s GAL token was a distant second with $344 million in sales, while Paris Saint-Germain (PSG) recorded $225.8 million.&nbsp; 
OG and FC Barcelona rounded out the top five, with sales of $132 million and $126.2 million, respectively. 
<h3 class="wp-block-heading" id="strong-market-outlook-strong">Market outlook</h3> 
The juxtaposition of declining sales volume with a soaring number of buyers and sellers signals a complex phase in the <a href="https://crypto.news/tag/nft/" target="_blank" rel="noreferrer noopener">NFT</a> market.&nbsp; 
The significant drop in transaction volume suggests that while interest and participation are at an all-time high, the average transaction size has decreased, possibly indicating a shift towards more affordable NFTs or a cautious approach by investors.&nbsp; 
It could also imply a maturing market where the frenzy of high-value transactions is cooling off, giving way to broader, more democratic engagement.&nbsp; 
As the market adjusts, platforms and collections that adapt to this changing landscape by offering diverse, accessible options may emerge as the new leaders in the NFT space. 
 Read more: <a href="https://crypto.news/vc-roundup-conduit-raises-37m-while-megalabs-ora-secure-20m-each/"> VC roundup: Conduit raises $37m while MegaLabs, Ora secure $20m each </a>

NFT market in flux: June sales drop 47% but there are more buyers and sellers

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