​NFT marketplace volumes fell further in August The latest no | Crypto Shake

​NFT marketplace volumes fell further in August

The latest non-fungible token (NFT) marketplace data show that the summer volume doldrums continued through August.

The volume for this month is, as of August 24, $369.53 million, according to The Block's Data Dashboard. By contrast, NFT marketplaces saw approximately $675.43 million in volume during July.

OpenSea continues to hold its place as the dominant market leader, accounting for $303.47 million or roughly 82% of the month's reported volume activity. OpenSea's volume was $528.64 million in July. That month, OpenSea announced a round of layoffs, citing difficult market conditions.

Declines can be seen elsewhere across the NFT marketplace ecosystem. As of August 24, Solana-focused Magic Eden has seen $36.17 million in volume, compared to $87.44 million in July — a roughly 59% decline. LooksRare's volume for August is $13.51 million, compared to $30.55 million, representing a decline of about 56%.