OpenSea: Sales of Ethereum, Polygon NFTs plummet to new lows

The gross sales of Ethereum and Polygon-minted NFTs on OpenSea have fallen to their lowest degree this yr.
Blur continues to overshadow OpenSea when it comes to month-to-month buying and selling quantity.

The month-to-month gross sales quantity of Ethereum and Polygon-based non-fungible tokens (NFTs) on the main market OpenSea has plummeted to its lowest level this yr as July attracts to an in depth, knowledge from Dune Analytics revealed.

Info from the on-chain knowledge supplier revealed that the month-to-month gross sales of Ethereum-minted NFTs on {the marketplace} reached a formidable peak of $659.02 million in February earlier than experiencing a subsequent downturn.

With sooner or later left in July, the whole gross sales quantity at press time was $120.79 million. This represented an 82% drop in month-to-month gross sales quantity on OpenSea because the February excessive.

Supply: Dune Analytics

Equally, following a record-breaking NFT gross sales quantity of $109.12 million in February, Polygon-based NFTs on OpenSea have acquired decreased patronage from OpenSea’s customers. Actually, following the February excessive, the NFTs on this class proceeded to shut the primary quarter of the yr with a whopping 98% decline in gross sales quantity.

Within the final 30 days, the gross sales quantity of Polygon-minted NFTs on {the marketplace} totaled $8.35 million, a 92% decline in beneath six months.

Supply: Dune Analytics

Naturally, the autumn in NFTs gross sales rely in July culminated within the decline in gross sales quantity. In response to knowledge from Dune Analytics, solely 258,798 Ethereum-minted NFTs have been bought on OpenSea this month. This was a 43% drop from the 450,325 complete NFTs bought by the top of June.

{The marketplace} recorded its highest month-to-month rely of Ethereum NFTs bought in January. Per knowledge from Dune Analytics, OpenSea ended the 31-day buying and selling interval with an NFT gross sales rely of 1.14 million. This has since trended downward.

Supply: Dune Analytics

Apparently, regardless of the shortfall in gross sales quantity, the rely of Polygon NFTs bought on OpenSea this month has surpassed the whole rely from June. Previously 30 days, 296,343 Polygon-minted NFTs have been traded on OpenSea. This was a 29% soar from the 228,859 complete NFTs bought in June.

Blur leaves OpenSea in a daze

Blur continues to dominate OpenSea relating to month-to-month NFT buying and selling quantity, knowledge from DappRadar revealed. In response to the information supplier, NFTs buying and selling quantity on Blur totaled $378.41 million. OpenSea trailed behind it with a buying and selling quantity of $126 million, registering a 25% drop throughout that interval.

Nevertheless, throughout the interval beneath assessment, OpenSea recorded an inflow of merchants than Blur did. In response to DappRadar, merchants that accomplished NFTs transactions on OpenSea within the final month totaled 305,295. Blur noticed a mere 35,304 merchants.