Future

Coin

<ul class="news-points">
 <li>July sees a potential record low NFT sales, with month-to-date volumes at $393M.</li>
 <li>Despite the downtrend, July’s NFT transactions increased by 73% compared to June.</li>
 <li>Experts believe NFTs will persist, with new use-cases driving future growth.</li>
</ul>
Monthly non-fungible token (NFT) trading volumes are dwindling to their lowest point since November 2023, <a href="https://www.cryptoslam.io/nftglobal?timeFrame=month&amp;headerPeriod=30d" target="_blank" rel="noopener noreferrer nofollow">according to data</a>. Insights from NFT tracker platform Cryptoslam show that digital collectibles have recorded $393 million in sales month-to-date. This figure suggests the asset class may experience its lowest sales in July, considering its daily trading volume of less than $14 million.
In the previous month, the NFT market posted sales totaling $450 million, <a href="https://www.cryptoslam.io/nftglobal?headerPeriod=30d&amp;timeFrame=month" target="_blank" rel="noopener noreferrer nofollow">a record low since 2023</a>. Digital collectibles have experienced a sustained downward trend since the second quarter of 2024, dropping by 45% from Q1, from $4.1 billion to $2.24 billion.
Despite the downtrend in July, NFTs saw an increase in trading volume compared to June. Per CryptoSlam data, 9.9 million NFT transactions occurred in July, representing a 73% increase from last month’s record of 5.7 million.
However, market professionals remain optimistic…
The post <a href="https://coinedition.com/nft-trading-volumes-hit-record-lows-future-prospects-remain-optimistic/" rel="noopener noreferrer nofollow">NFT Trading Volumes Hit Record Lows, Future Prospects Remain Optimistic</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

NFT Trading Volumes Hit Record Lows, Future Prospects Remain Optimistic

Coin Edition

Altri articoli pubblicati su 29 lug 2024

Rho Markets Hit by $7.5M Hack, Attackers Demand Admission of Oracle Error for Fund Return

Dogecoin (DOGE) Shows Ambitious Growth Despite Mixed Metrics

Trump’s Masterplan: Bitcoin Strategic Reserve Asset, Fire Gary Gensler, US to Buy 5% of BTC Supply

Ripple to Unlock 1 Billion XRP Tokens Worth $609M on August 1 – Should You Buy Now?

Will Neiro Get Similar Popularity Like Shiba Inu Dog Kabosu

Weekly Article Recap: 7/15-7/19

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!