In June, the total trading volume on NFT marketplaces amounted to $1.04 billion, compared to $4 billion in May.Drop in the indicatorby 74% was the largest month-on-month, according to The Block.
Data: The Block Research.
The second largest decline in trading volumes was recorded between February and March - 48%.
The segment is dominated by OpenSea with June trading volumes of $696M, accounting for 67% of the total. Next comes LooksRare with a share of about 20%.
Data: The Block Research
Since the beginning of 2022, Magic Eden NFT marketplace powered by Solana has increased its market presence from 0.1% in total trading volumes to over 10%.
This came amid the April integration of the Solana blockchain by leader OpenSea.
Recall that in July, the largest marketplace announced the reduction of 20% of employees.
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