While NFT enthusiasts continue to bask in the euphoria of the 2021 boom in the ecosystem, the general downturn of the cryptocurrency market continued to affect the sales volume of NFTs in the last few months. According to data from NFTgo, the total sales volume of NFT collections across marketplaces saw a 61% decline in June. Also, within the last 30 days, the market capitalization of the entire NFTs market saw a 15% drop.
Furthermore, the sales volumes of blue-chip projects such as Bored Apes, Otherdeed, and Art Blocks dropped by 61%, 89%, and 63% within the last 30 days. OpenSea, the world’s most popular NFT marketplace, also recorded some declines in June compared to its performance in May. OpenSea Ethereum and Opensea Polygon witnessed some notable drops as well.
But, where are the collectors?
According to data from Dune Analytics, in May, OpenSea Ethereum logged a sales volume of $2.59 billion. However, in June, with $696 million recorded in sales volume, a 73% decline was recorded.
Similarly, the OpenSea Polygon sales volume saw a 66% decline from the $26.65 million recorded in May to the $8,856,717 recorded in the month of June.
Data from Dune Analytics also revealed that the total count of NFTs sold on OpenSea Ethereum grew by 4%. In May, the count for the total NFTs sold stood at 1,478,553. In June, a total of 1,543,975 NFTs were sold.
However, OpenSea Polygon told a different story. With a 49% decline registered in June, the count for the total NFTs sold stood at 154,282.
Furthermore, in June, OpenSea Ethereum saw an index of 393,737 as its monthly active traders. With 422,295 monthly active traders recorded in May, a 7% decline was seen on this front.
Similarly, the index for monthly active traders on Opensea Polygon was no different, as a drop of over 45% was recorded in June.
June: A month of declines
According to data from NFTGo, over the last 30 days, the total number of unique addresses that bought or sold at least one NFT from any of the collections listed on the analytics platform dropped by 11.97%.
This brought the total number of traders across NFTs marketplaces in June to 313 341. In June, the indexes for unique buyers and sellers of NFTs saw a drop of 17% and 8%, respectively.