Binance Research: June Crypto Market Insights Report Summary

The NFT market continued to be sluggish in June, with total sales of $46 million, down 26.2% from May. DMarket, an in-game item marketplace on Mythos, topped the list with monthly sales of $18.9 million, followed by CryptoPunks with sales of $16.1 million.

Notably, CryptoPunks saw a 3.5% increase in sales and a 29.9% increase in monthly trading volume. Top Ordinal series such as Bitcoin Puppets and NodeMonkes saw a sharp drop in sales, down 40.6% and 41.0%, respectively. Bored Ape Yacht Club saw a slight decline in monthly sales, while Pudgy Penguins outperformed the market with a 68.9% increase. This may be attributed to Igloo Inc.’s acquisition of on-chain creator economy platform Frame and the announcement that they are developing Abstract Chain, a Layer 2 network for consumer crypto and on-chain culture.

In addition, Pudgy Penguins announced a partnership with Mythical Games to develop a Pudgy Penguins-themed mobile game on Mythos, which will be launched in 2025. Among the top chains, NFT sales fell sharply, with Bitcoin and Ethereum experiencing declines of 48.2% and 50.2%, respectively. Solana’s monthly sales fell by 40.9%, while Blast saw a sharp drop of 81.0%, which may be due to the end of its airdrop activity.