June sales fall 47% but there are more buyers and sellers

The non-fungible token (nft) market has seen a notable drop in activity over the past month, with significant drops in several metrics.

According to crypto Slam data:

• Global nft sales volume reached $476.3 million in June, down 47.22%.
• The number of nft buyers skyrocketed to 1.259 million, a staggering 1700.83% increase.
• The number of sellers rose to 744,965, an increase of 1,059.64%.
• The increase in buyers and sellers was compared to a 51.4% drop in nft transactions month-over-month.

Top blockchains by nft sales volume

Here's a closer look at the top five blockchains:

• ethereum (eth) once again led the pack in blockchain sales volume, recording over $147.5 million in nft sales, with a notable $123 million attributed to wash trading. Including these washing activities, total sales amounted to $270.5 million. The network attracted 55,449 buyers, reflecting an increase of 95.41%.
• bitcoin (btc) has emerged as a formidable contender in the nft space. Despite a nearly 48% drop, it achieved more than $117 million in sales with minimal influence from the wash trade. The network also had 59,482 actively participating buyers, a figure that was roughly similar to May's numbers.
• Polygon (MATIC) came in third, demonstrating its growing influence with $80.2 million in sales. The figure was up 3.35% from the previous month, with over 245,000 buyers actively trading nfts on the platform.
• The Solana (SOL) nft marketplace recorded the fourth-highest nft sales volume, raising over $69.2 million in sales. However, the amount was still 42.82% lower than last month's figures. Counting around $2.65 million attributed to the wash trade, Solana's total sales reached $71.9 million from 580,100 buyers.
• Chain of myths (MYTH) recorded $20.1 million in nft sales in June, with laundering operations contributing another $134,185 to its total sales figure. The blockchain also had more buyers than ethereum: 57,269 got their nfts from there.

Top nft collections in June

Despite the overall market slowdown, several nft collections stood out in June.

$PIZZA BRC-20 nfts in bitcoin led the pack, with $29.1 million in sales from more than 43,000 transactions. See below.

DMarket on Mythos followed with $18.9 million in sales from nearly 830,000 transactions. However, the collection's earnings were 21.8% lower than the previous month.

CryptoPunks on ethereum continued to perform well, generating $16,405,442 in sales from just 141 transactions. Bored Ape Yacht Club (BAYC) also maintained its popularity, with sales increasing 6.54% to $13 million.

Another bitcoin collection, NodeMonkes, rounded out the top five, with $12.7 million in sales from 929 transactions.

Polygon’s OKX nft Creation enjoyed the largest percentage growth over the past 30 days, with its sales volume increasing by a massive 132,509.44% to $2.4 million.

By contrast, the worst-performing nft collection in June was Blast's Fantasy Top, which saw an 83.33% drop in sales volume, closely followed by DeGods on ethereum, whose sales plummeted by 82.9%. %.

Best-selling nfts of the month

As for the highest-priced nft collectibles, CryptoPunks #627 sold for a staggering $836,149 in ethereum, making it the highest sale of the month. Punk #50 from the Ordinal Punks bitcoin collection fetched $306,725, while a Cardano nft sold for $219,102.

The Solana blockchain was represented by Mad Lads #4575, which sold for $110,917, while TTAvatars #1280003 on Polygon changed hands for $100,500.

The fan token market also saw substantial activity.

The AS Roma (ASR) token led the list with $1.27 billion in sales on the Chiliz blockchain. Galatasaray's GAL token came in a distant second with $344 million in sales, while Paris Saint-Germain (PSG) recorded $225.8 million.

OG and FC Barcelona rounded out the top five, with sales of $132 million and $126.2 million, respectively.

Market outlook

The juxtaposition of declining sales volume with a growing number of buyers and sellers signals a complex phase in the nft market.

The significant drop in transaction volume suggests that while interest and engagement are at an all-time high, average transaction size has declined, possibly indicating a shift towards more affordable nfts or a cautious approach from investors.

It could also imply a mature market where the frenzy of high-value transactions is cooling, giving way to broader, more democratic engagement.

As the market adjusts, platforms and collections that adapt to this changing landscape by offering diverse and accessible options may emerge as the new leaders in the nft space.