NFT Sales Fall 30% In July
The global non-fungible token market has recently crashed after the initial hype that followed its rise in popularity. In the past few weeks, most NFTs have fallen sharply in their floor price value, leading some investors to question their long-term viability. The NFT market started spiraling downward in the past few weeks, leaving many projects in massive losses. Data compiled by CryptoSlam.io, an on-chain data aggregator, shows that the once-booming non-fungible token market is down by nearly every traceable metric.
During this period, non-fungible token hosted on the Ethereum blockchain has been the most traded NFTs, recording a trading sales volume of $315 million. Ethereum NFTs have dropped 21% in trading sales volume from the past month. Non-fungible token collections pegged on the flagship crypto “Bitcoin” has been the second most traded NFT collections this month. In the past 30 days, Bitcoin ordinals have attracted a trading sales volume of $63 million. This figure translates to a 48% drop from the past month. Non-fungible token hosted on BNB Chain, a community-driven, decentralized, and censorship-resistant blockchain from renowned crypto exchange “Binance,” takes fifth place this month. In the past 30 days, BNB Chain NFTs have recorded a sales volume of $23 million.
Source
@Facebook_Metaverse_Nfts
