Study Shows NFT Sales Plummeted 90% Over the Last 30 Days, NFT Wallets Dip 70% – Blockchain Bitcoin News
As of last week, the number of daily NFT transactions fell to 6, compared to the monthly average of 36. The number of daily wallets has fallen from 4,275 to 2,707, while the percentage of NFT transactions using mobile wallets has increased to 79%, compared to 50% in October 2017. Although the price of Bitcoin has dipped below the $6,000 mark, the market value of NFTs has not changed, jumping from approximately $6.2 billion to $7.5 billion last week, a net gain of $900 million over the last 30 days.
NFTs (Non-Fungible Tokens) are digital assets that exist on the blockchain, as opposed to, for example, stocks. NFTs are an increasingly popular type of token used to represent a variety of digital assets in a user-friendly manner. But, the blockchain has struggled to support NFTs because of limited transaction fees.
The past five months have seen an unprecedented surge in the space of the fully-hosted NFTs, aka crypto collectible/tokens. It can be said that the revolution has started, but many have doubts regarding its sustainability.. Read more about nfts and let us know what you think.
According to a recent study, sales of non-playable tokens (NFT) have declined since the record sales of 3. The month of May was down 90%. Market data shows that more than 130,000 NFTs were sold that day, and 30 days later sales were down to 84,000, a drop of more than 35% in the past month.
Protos.com study says NFT bubble has burst
By 2021, non-fictional tokens (NFTs) were all the rage, and sales continue to this day. However, a recent study by protos.com shows that NFT sales have declined and so have the costs of selling NFT. The record shows that last month, on 3. In May, $102 million worth of NFTs were sold and the latest seven-day data shows that only $19.4 million worth of NFTs were sold last week. A study by protos.com shows that the NFT ecosystem has dropped by 90% from its peak on the 3rd. May has come and gone, and only a few projects are still closed. Weekly data via nonfungible.com Currently, projects like Cryptopunks and Hashmasks have been able to keep sales up, and the market statistics from nonfungible.com reflect this fact. According to nonfungible.com, there were 84,645 sales worth $134 million in 30 days. Over 52,000 are primary sales and over 32,000 are secondary sales. Monthly data via nonfungible.com The study also shows that the number of active NFT portfolios has dropped from 12,000 a day to 3,900, a loss of almost 70%. Other toppers for NFT include Sorare, Meebits, Decentraland, Superrare and Sandbox. A Meebit NFT sold for $2.6 million last month and a Cryptopunk for $1.4 million. Four other NFT Meebit offerings in the recent NFT Cryptopunk sale sold for $1 million each. Cryptopunks has sold 79 unique items worth over $4.8 million in the last seven days. Sorare’s data is different, with weekly sales of $2.4 million, but within 10,000+ sales. The statistics of the protos.com study lead the publication to believe that the NFT bubble has burst, and the author of the report concludes by pointing out this subjective assessment. In total, the data suggest that the NFT bubble lasted only four months – and burst roughly in May, the protos.com researcher writes. What do you think of the study by NFT and protos.com that claims the NFT bubble has burst? Let us know what you think in the comments below.
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90% drop, blockchain NFTs, crypto assets, nft, NFTs, NFT sales, NFT wallets, NFTs, unplayable tokens, unplayable assets, nonfungible.com, nonfungible.com data, protos.com, protos.com survey, report, survey Photo credit: Shutterstock, Pixabay, Wiki Commons, Nonfungible.com Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.The report says: “A shocking new report has just been released by a leading blockchain analyst firm, claiming that over 90% of all NFTs (non-fungible tokens) are being lost or stolen every 30 days. The research, conducted by TokenAnalyst, showed that over 7,000 of the 90,000 NFTs created since the beginning of 2018 have been stolen or lost.”. Read more about nft crypto coins and let us know what you think.
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