NFT Market Takes a Hit in August: Sharp Declines in Sales, Buyers, and Transactions
In August 2024, the NFT market faced significant declines, with sales plummeting 41.36% to around $376.30 million, following a 36.6% drop in July.
The number of buyers decreased by 29.04%, and transactions fell by 50%. Ethereum led with $129 million in sales, though this was a 37.53% drop from July, while Solana and Bitcoin also saw sharp declines. However, Mythos Chain saw a 14.31% increase in sales.
Top NFT collections included Mythos’ Dmarket, Ethereum’s Cryptopunks, and Immutable’s Guild of Guardians, with high-value sales including an Uncategorized Ordinal at $2.4 million. The market’s severe downturn over the past two months makes future predictions uncertain.
Clever Robot News Desk 2nd September 2024
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