2024

Bitcoin

when

Ronin

Recent data from Cryptoslam indicates that there has been a drop in the NFT market during the second quarter of 2024.&nbsp; 
According to the data, NFT sales volumes in Q2 fell by 45% quarter-on-quarter, with total figures dropping to approximately $2.28 billion, the lowest since Q3 2023.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdgCvb2ZhFpio70vpqEb-nndDbzIo1ijnDYUPcxKapvw2UdVSb-7uem5A93f0q2MogXV954qL2spoXDwjC4avxTBbDwYHBB4X0LBQD3cBZR5nF0fmm_9rQiaIvsauMh6aTMabEbTIBJ-HszvN-HwA39hGSP?key=7EbudaUW9yxCL0EMRRRlsg" alt="AD 4nXdgCvb2ZhFpio70vpqEb nndDbzIo1ijnDYUPcxKapvw2UdVSb 7uem5A93f0q2MogXV954qL2spoXDwjC4avxTBbDwYHBB4X0LBQD3cBZR5nF0fmm 9rQiaIvsauMh6aTMabEbTIBJ HszvN">
 <figcaption class="wp-element-caption">
 NFT Trading Volume Chart | Source <a href="https://www.cryptoslam.io/nftglobal?headerPeriod=30d&amp;timeFrame=month" target="_blank" rel="noreferrer noopener nofollow">CryprtoSlam</a>
 </figcaption>
</figure> 
This decline is down when compared to Q1 2024’s impressive $4.1 billion in sales. June 2024 is on track to record the lowest monthly sales since October 2023, with volumes of around $456 million as of June 28. 
Additionally, the average sale price of NFTs has also seen a significant reduction, decreasing from $193 in March to $78 in June, representing a 60% decline. The number of unique sellers and buyers in the market has contracted, indicating a wide drop in interest in the NFT space. 
However, this downturn in the NFT market coincides with Bitcoin’s recent bearish trend. After reaching peak values in March 2024, Bitcoin has struggled to regain its highs, and currently <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" data-type="link" data-id="https://coinmarketcap.com/currencies/bitcoin/" rel="noreferrer noopener nofollow">trading at $61,673</a> according to CoinMarketCap 
Despite these challenges, the NFT sector has achieved some notable milestones in 2024. Solana-based NFTs surpassed $5.6 billion in all-time sales volume in February, and Bitcoin-based NFTs moved into third position for all-time sales volume, surpassing the Ronin network. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/27/yamakoshi-village-innovates-with-nfts-for-community/" target="_blank" rel="noreferrer noopener">Japanese Village Adopts NFT for Community Development</a> 
</blockquote>

NFT Market Slumps 45% in Q2 2024: CryptoSlam Data

The Crypto Times

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