The NFT market is a volatile one, and June 2023 was no exception. Ethereum-based NFTs saw a surge in popularity, while Bitcoin-based NFTs plummeted. Solana-based NFTs also saw a significant increase in sales.
Here’s a breakdown of the NFT market in June 2023:
Ethereum-based NFTs
Ethereum-based NFTs accounted for over 63% of the market in June 2023, with sales of over $452 million. This was a significant increase from May 2023, when Ethereum-based NFT sales were only $300 million.
Bitcoin-based NFTs
Bitcoin-based NFTs saw a sharp decline in popularity in June 2023, with sales plummeting by 42.36% to a total of $110.3 million. This was the lowest level of sales for Bitcoin-based NFTs since January 2022.
Solana-based NFTs
Solana-based NFTs were the surprise of the month, with sales skyrocketing by 65% to reach an impressive $70.42 million. This was the highest level of sales for Solana-based NFTs since February 2022.
The NFT market is constantly evolving, and it’s important to stay up-to-date on the latest trends. If you’re interested in investing in NFTs, it’s important to do your research and choose the right platform for you.
Here are some of the factors to consider when choosing an NFT platform:
- The type of NFTs you want to buy: Some platforms specialize in certain types of NFTs, such as art, sports, or gaming.
- The fees charged by the platform: Some platforms charge high fees, while others are more affordable.
- The security of the platform: Make sure the platform you choose has strong security measures in place to protect your NFTs.
The NFT market is a new and exciting one, and there are still many opportunities to profit from it. However, it’s important to be aware of the risks involved and to do your research before investing.
As we all continue to ‘weather’ this brutal bear market, it’s important to check market metrics regularly to know if we are closing in on a market reversal. Looking at the data for June, it appears that the overall sentiment may be getting better with the performances of Ethereum and Solana NFTs improving.
Are Bitcoin NFTs just another short-lived trend that is currently fading out (remember Aptos)? June’s data certainly suggests that it could be. No one can predict what may happen in Web3, so be sure to check back regularly for updates.
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*All investment/financial opinions expressed by NFT News are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
This information is published by the NFT News media team.
