🚨🚨‼️‼️NFT Market Crash: July Sales Hit Record Lows!😳😳🚨🚨

NFT trading volumes have plummeted to record lows, with July seeing sales drop to just $393 million, nearing a historic low. Despite this, NFT transactions surged by 73% compared to June.

Data from Cryptoslam paints a grim picture, with daily trading volumes dipping below $14 million. June’s $450 million sales were already a record low since 2023, marking a 45% drop from Q1 2024’s $4.1 billion to $2.24 billion.

However, there's hope on the horizon! Market experts believe NFTs will bounce back with new and exciting use cases. Jonathan Perkins of SuperRare and CryptoSlam’s Randy Wasinger are confident that NFTs are here to stay. Wasinger predicts that while some trends might not return, NFTs will thrive in new Web3 applications.

The future of NFTs might be brighter than it seems! Keep an eye out for the next big thing in the digital collectibles space!

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