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The non-fungible token market, which was blossoming in the beginning of the yr, has suffered one other tough quarter. The NFT market began the yr bullish, with its buying and selling gross sales quantity reaching $4.1 billion in Q1 2024. Sadly, the NFT market began growing cracks a month later, with buying and selling gross sales quantity flipping to $2.25 billion in Q2 2024 after the market hype that fueled its resurgence light.
Information compiled by Tiexo.com, an on-chain non-fungible token assortment explorer and an analytic hub, exhibits that the worldwide non-fungible token market has plunged once more in gross sales in Q3 2024. Prior to now 90 days, the worldwide NFT market has attracted a buying and selling gross sales quantity of simply $1.12 billion, representing a 50% plunge from the earlier quarter. That is the second time the NFT market has dropped quarter-over-quarter.
NFT Market Sees A Downward Momentum In 2024
The NFT market began the brand new yr wholesome and considerably surged in traction, reaching $4.1 billion in Q1 2024. In February 2024, NFT gross sales climbed to only over $1.290 billion, a 3.6% enhance from January’s $1.245 billion. In March 2024, gross sales jumped to $1.605 billion, up 19.6% from February’s $1.290 billion. NFT gross sales started tanking right now after the BRC-20 NFT market hype light out.
Supply: CryptoSlam.io, NFT gross sales quantity by months
In April 2024, the worldwide NFT market suffered one other downturn, with its buying and selling gross sales quantity falling to $1.2 billion, down round 205 from the earlier month. In Might 2024, the NFT market meltdown escalated, leaving the buying and selling gross sales quantity down practically half to $599 million. In June 2024, the NFT meltdown additional deteriorated, pushing buying and selling sale quantity to $436 million. The cumulative buying and selling gross sales quantity in Q2 2024 was round $2.25 billion.
The NFT market has since suffered a month-over-month decline, plunging to $428 million in July 2024. In August 2024, the worldwide NFT market additional shrunk, recording a buying and selling gross sales quantity of $393 million. In September 2024, the NFT buying and selling gross sales quantity was lowered to solely $299 million. Cumulatively, the NFT market has amassed a buying and selling gross sales quantity of $1.12 billion.
High NFT Marketplaces In Q3, 2024
OpenSea, the world’s first and largest Web3 market for non-fungible tokens and crypto collectibles, was probably the most traded NFT market in Q3, 2024. Prior to now 90 days, the NFT market has recorded a buying and selling gross sales quantity of $340 million, taking 30% of the full market share. Polygon NFTs took the lion’s share throughout this time, amassing 65% of the buying and selling gross sales.
Magic Eden, the main multi-chain digital market platform supporting non-fungible tokens on Solana, Ethereum, Polygon, and Bitcoin, was the second main NFT market in Q3 2024. Prior to now 90 days, the NFT market has recorded a buying and selling gross sales quantity of $307 million. Throughout this era, Bitcoin Ordinals on Magic Eden took the biggest share of 56%, Solana NFTs took 36%, Ethereum-based NFTs took 4percentand Polygon-based NFTs took the remaining share.
Blur, a novel non-fungible token market and aggregator platform providing superior options comparable to real-time worth feeds, portfolio administration, and multi-marketplace NFT comparisons, was the third main NFT market in Q3 2024. Prior to now 90 days, the NFT market has amassed a buying and selling gross sales quantity of $251 million, representing 22% of the full market share.
Tensor, a famend non-fungible token market offering customers with a clean, quick, and safe NFT buying and selling platform, was the fourth main NFT market in Q3 2024. Prior to now 90 days, the NFT market has recorded a buying and selling gross sales quantity of $84 million, representing 7.68% of the full NFT market share. The Solana-based NFTs have taken 100% of the NFT gross sales quantity throughout this time.
Lastly, CryptoPunks, an revolutionary NFT market devoted solely to the long-lasting 10,000 CryptoPunks NFT assortment, was the fifth main NFT market platform in Q3, 2024. Prior to now 90 days, the CryptoPunks NFT market has recorded a buying and selling gross sales quantity of $41 million, representing 3.75% of the full market share. CryptoPunks has closed our 5 top-leading NFT marketplaces in Q3, 2024.
High NFT Collections In Q3, 2024
Liberty Cats, a non-fungible token assortment that includes a restricted version of 9,903 NFTs hosted on the Polygon blockchain community, was the top-leading NFT assortment in Q3 2024. Prior to now 90 days, the Liberty Cats NFT assortment has recorded a buying and selling gross sales quantity of $66 million, taking 5.87% of the full market share. The Liberty Cats NFT assortment has a ground worth of 87,436 MATIC.
Pudgy Penguins, a non-fungible token assortment from the digital asset agency Igloo that encompasses a mounted version of 8,888 NFTs hosted on the Ethereum blockchain community, was the second main NFT assortment in Q3, 2024.Prior to now 90 days, the Pudgy Penguins NFT assortment has recorded a buying and selling gross sales quantity of $48.32 million, representing a 4.26% of the full market share.
Bored Ape Yacht Membership, a non-fungible token assortment from the digital asset agency Yuga Labs that includes a restricted version of 10,000 NFTs hosted on the Ethereum blockchain community, was the third main NFT assortment in Q3, 2024. Prior to now 90 days, the Bored Ape Yacht Membership NFT assortment has amassed a buying and selling gross sales quantity of $46 million, representing 4.14% of the full market share.
CryptoPunks, a non-fungible token assortment that includes a restricted set of 10,000 Ethereum-based NFTs beforehand from Larva Labs however now managed by the Bored Ape creator Yuga Labs, was the fourth main NFT assortment in Q3, 2024. Prior to now 90 days, the CryptoPunks NFT assortment has recorded a buying and selling gross sales quantity of $41 million, representing 3.62% of the full market share.
Solana Monkey Enterprise, a non-fungible token assortment that includes a restricted set of 5,000 distinctive 24×24 pixels randomly generated Monkeys saved solely on the Solana blockchain community, was the fifth main NFT assortment in Q3 2024. Prior to now 90 days, the Solana Monkey Enterprise NFT assortment has amassed a buying and selling gross sales quantity of $35 million, representing 3.15% of the full market share.
Associated NFT Information:
Most Searched Crypto Launch – Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards – pepeunchained.com
- $10+ Million Raised at ICO – Ends Quickly
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