📉 The NFT market continued to decline sharply in August, with revenue reaching only $374 million, the lowest level in 2024. Compared to the record $1.6 billion in March, this is a 76% decrease! 😱

🔍 Data from CryptoSlam shows that total NFT revenue in Q1 2024 was $4.1 billion, but dropped to $2.24 billion in Q2, down 45% from the previous quarter.

📊 Despite the growth in the last week of August, NFT sales failed to break the downward trend that began in April. July recorded $427 million, but the number of transactions increased by 87% compared to June.

💸 August saw 7.3 million transactions, down 31%, but the average value per transaction increased by 27%, from $39.93 to $50.74. In early September, the average value increased to $86.04.

💬 Solo Ceesay from Calaxy said that speculative capital is shifting from NFTs to memecoins. What do you think about this trend? Share your thoughts! 👇

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