E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Opening Bell: Sensex gains nearly 125 points, Nifty50 starts above 17,550 – Auto, FMCG, Pharma lead the surge

August 10, 2022

This insurance company declares Rs 861 crore bonus for policyholders – Are you eligible?

August 10, 2022

Asian shares slip ahead of crucial US inflation data

August 10, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»NFT June Sales Down to 12-Month Lows Amid Ongoing Bear Market (Report) After Braving Bear Market, NFT June Sales Down to A 12-Month Low (Report)
Crypto

NFT June Sales Down to 12-Month Lows Amid Ongoing Bear Market (Report) After Braving Bear Market, NFT June Sales Down to A 12-Month Low (Report)

Paul EasterBy Paul EasterJuly 4, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email



After defying the trends for several months, NFT sales have finally fallen in line with the broad cryptocurrency bear market trends. DappRadar and Chainalysis data reveal that the NFT sales in June have been the lowest since June 2021.

June Sales at 12-Month Low

A recent Bloomberg report said that the NFT market in June is poised for under $1 billion in sales for the first time since June 2021. Citing DappRadar data, it added that OpenSea’s sales volume in June was $670 million, down by 75% from May’s numbers. Compared to $5 billion in January, OpenSea’s monthly volume in June is the lowest for the world’s largest NFT marketplace since July 2021. 

However, citing Chainalysis data, The Guardian, in its report on July 2, noted that the NFT sales figure for June 2022 was slightly better at a little over $1 billion, from its peak of $12.6 billion in January 2022. 

The NFT sales skyrocketed in 2022 and touched $40 billion. However, the numbers were even more robust at the start of this year, with the total sales pegged at $42 billion, with January and February sales accounting for more than half of it. 

Thefts and Scams

In recent months, scams and thefts in the NFT space have risen to alarming levels. 

In one of the largest hacks in NFT history, Axie Infinity, a play-to-earn NFT gaming platform on the Ethereum Network, lost $625 million in March. It has recently resumed operations after months of working on bolstering security.

Following the hack, the user base of Axie Infinity has reportedly fallen by 40%. Although Sky Mavis, the developer of the Ronin blockchain that powers Axie Infinity, has promised to reimburse the players’ losses, the value of Ethereum has dropped by two-thirds. Ranked among the top 3 NFT projects, Axie Infinity recorded $4.14 billion in NFT sales in February 2022. 

OpenSea witnessed a data breach involving the email ids of its customers. Many of them complained on social media that they had received multiple emails that seem like phishing attempts.

Confirming the data breach in a notification, OpenSea revealed that a vendor’s employee had turned rogue and passed on the email database to a third party. The NFT platform has asked its customers to stay vigilant against any phishing attempts through their emails. 

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



Source link

Paul Easter

Related Posts

German Crypto Exchange Nuri Applies for Insolvency Due To The Crypto Winter

By Paul EasterAugust 10, 2022

Iran Imports $10 Million Worth of Goods in Crypto (Report)

By Paul EasterAugust 10, 2022

Ethereum Merge Attracts Institutional Investors: Report

By Paul EasterAugust 9, 2022

Vitalik Outs Himself as Having Used Tornado Cash

By Paul EasterAugust 9, 2022
Add A Comment

Comments are closed.

Our Picks

Opening Bell: Sensex gains nearly 125 points, Nifty50 starts above 17,550 – Auto, FMCG, Pharma lead the surge

By Paul EasterAugust 10, 2022

This insurance company declares Rs 861 crore bonus for policyholders – Are you eligible?

By Paul EasterAugust 10, 2022

Asian shares slip ahead of crucial US inflation data

By Paul EasterAugust 10, 2022
Recent Posts
  • Opening Bell: Sensex gains nearly 125 points, Nifty50 starts above 17,550 – Auto, FMCG, Pharma lead the surge August 10, 2022
  • This insurance company declares Rs 861 crore bonus for policyholders – Are you eligible? August 10, 2022
  • Asian shares slip ahead of crucial US inflation data August 10, 2022
  • Twitter outage: Micro-blogging platform hit by technical snag; company says ‘fixed it’ August 10, 2022
  • Scratching Out Business Intelligence | Hackaday August 10, 2022
  • German Crypto Exchange Nuri Applies for Insolvency Due To The Crypto Winter August 10, 2022
  • Iran Imports $10 Million Worth of Goods in Crypto (Report) August 10, 2022
Archives
  • August 2022
  • July 2022
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.