- Demand for tokens is gradually falling
- Since July, the market volume has decreased by 45%
- The shares of the main large “players” also decreased
Apparently, the summer decline in the token market continued in August. The NFT market is still stagnating, which is reflected in the marketplace statistics. In a month this sector has decreased by 45%.
According to The Block analysts, in August the NFT market amounted to $369.53 million. A month earlier, this figure was $675.43 million, and in June – $884.85 million.
Compared to July, the market volume decreased by 45.3%. But even this is not so much when compared to how much the market has “ dipped ” since January when it reached the level of $5.63 billion.
As for the structure of the segment, it remained unchanged. The share of the leader OpenSea is 82%. It is noteworthy that the turnover of this site alone in July amounted to $528.64 million. At the same time, the marketplace fired about 20% of the staff due to difficult market conditions.
A similar situation has developed among other resources. GameStop’s daily revenue has fallen below $4,000, well below its peak in July.
This indicates a drop in the level of demand for NFTs, as well as a slowdown in the turnover of transactions. Apparently, interest in this sector is falling and it remains to be hoped that this is temporary.
