Major blockchains are experiencing their lowest sales for NFTs since October. Major Blockchains Face Worst NFT Sales Month Since October
There was a notable decrease in NFT sales during the month of May. In September, there was a decrease in global sales, with a total of $604 million. This was the lowest sales figure since October and the first month of the year where sales fell below $553 billion. The decrease in NFT sales impacted prominent digital currencies like Ethereum and Bitcoin, with both experiencing their lowest sales figures in months. Notably, Ethereum saw a decline in its NFT sales. Ethereum, which is recognized as the leading blockchain for NFT transactions totaling over $43 billion in its history, experienced a significant decrease. In the previous month, Ethereum’s revenue totalled $164 million, marking its lowest performance since September. The quantity of individual purchasers decreased to 56,914, the lowest since June 2021, according to information from CryptoSlam. There has been a decline in Bitcoin’s NFT market. The decline also affected the NFT market of Bitcoin. Sales on the blockchain totaled $160 million last month, marking the lowest amount since October.