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Data Shows NFT Marketplace Volumes Fell Further in August

Amy Liu

Summary: As of August 24, the NFT marketplace volume for the month was $369.53 million, compared with $675.43 million in July, according to The Block’s Data Dashboard. Solana-focused Magic Eden has seen $36.17 million in volume, compared to $87.44 million in July — a roughly 59% decline.  OpenSea continues to hold its place as the dominant market ...

As of August 24, the NFT marketplace volume for the month was $369.53 million, compared with $675.43 million in July, according to The Block’s Data Dashboard. Solana-focused Magic Eden has seen $36.17 million in volume, compared to $87.44 million in July — a roughly 59% decline. 

OpenSea continues to hold its place as the dominant market leader, accounting for $303.47 million or roughly 82% of the month's reported volume activity. OpenSea's volume was $528.64 million in July. On-chain trading activity for Ethereum-based NFTs has trended downward since May as well, according to the Data Dashboard. 

By Amy Liu

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