đ According to crypto market data, the monthly transaction volume of the NFT market in the second quarter of 2024 decreased by 45% compared to the previous quarter. đź Sales increased from $29 billion in the first quarter of 2023 to $41 billion in the first quarter of 2024, but fell to $22.8 billion in the second quarter. đ
The average selling price for NFTs in June also dropped drastically, falling from $193 in March to $78. Sales volume was approximately $419 million at the end of June, and June may be the lowest sales volume month since October 2023.
Not only did the sales volume decrease, but the number of sellers and buyers also decreased. There were approximately 2,238,925 sellers and 3,316,014 buyers in the first quarter. In the second quarter, the number of sellers and buyers dropped to 1,785,367 and 3,300,566, respectively.
However, the NFT market reached major milestones in 2024. For example, in February, the total sales volume of Solana-based NFTs exceeded $50 billion. Additionally, earlier this month, the total sales volume of Bitcoin-based NFTs rose to third place, surpassing the Ronin network. đ
