NFT Marketplace Volumes Continue To Decrease This Month

The monthly NFT marketplace volume reduction that began this spring has persisted into July.

The most recent monthly volume for markets was $626.11 million as of July 30. Last month, such markets generated $884.68 million in revenue.

OpenSea is the market leader, accounting for $484.79 million monthly volume in July. During the same period, the Solana-based Magic Eden saw roughly $81 million monthly volume.

Data from analytics platform Dune shows about 1.61 million Ethereum NFTs sold so far in July on OpenSea compared to 1.54 million for all of June, while the number of unique traders has ticked up slightly from nearly 393,000 in June to over 400,000 so far in July.

Despite slightly more users transacting on OpenSea and buying more collective NFTs overall in July, the value measured in U.S. dollars has fallen: Dune shows more than $495 million worth of Ethereum volume so far in July compared to $695 million across June.

According to the site, the top NFT collection over the past 30 days is the Bored Ape Yacht Club with over $52 million worth of trading volume, followed by CryptoPunks at $49 million and fantasy soccer NFT game Sorare at nearly $33 million. Outside of NBA Top Shot on Flow, the entire top 20 is made up of Ethereum-based NFT projects.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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