NFT sales fell to a 12-month low in June 2022 From chainalysis

The following is the NFT sales fell to a 12-month low in June 2022 From chainalysis recommended by recordtrend.com. And this article belongs to the classification: online finance.

The attraction of NFTs (unforgeable tokens) is not the lowest, only lower. After enjoying a near meteoric fashion, the sales value of NFTs has been extremely reduced in the past six months. NFT sales in June 2022 were only slightly higher than $1billion, while the peak at the beginning of this year was $12.6 billion.

The decline in interest has brought NFT to its lowest level in a year, and it occurred during the period when the cryptocurrency market experienced extreme fluctuations and price declines.

With the decline of sales, the overall value of NFT market is also declining. In November, the value was about $3trillion, and the current value is less than one third of this figure. It is easy to regard the decline of interest as a simple hype problem, but it also seems to be related to the depressed market conditions of cryptocurrency.

The value of bitcoin and other cryptocurrencies has plummeted over the past year because people realized that it was a risky investment. Frequent interest rate hikes and rising inflation in various countries also contributed to this decline.

Chainalysis economist Ethan McMahon talked about the collapse of NFT in an interview with the guardian. He said that this decline must be related to the extensive slowdown of the cryptocurrency market, which inevitably leads to the integration in the affected markets.

From cnbeta Com read more: chainalysis: the global NFT market size exceeded 26.9 billion US dollars in 2021 GDC: nearly 30% of game studios are interested in NFT and cryptocurrency chainalysis: cryptocurrency hackers lost more than 283million US dollars in 2019 chainalysis: the amount of cryptocurrency laundering by cyber criminals reached 8.6 billion US dollars in 2021, an increase of 30% year-on-year chainalysis: the transaction volume of cryptocurrency in Europe exceeded 1trillion US dollars, becoming the largest cryptocurrency economy chainalysis:2021 In, the losses caused by global cryptocurrency fraud reached US $7.7 billion, surging 81% chainalysis: the scale of cryptocurrency related crimes reached US $14billion in 2021, a record high chainalysis: cryptocurrency crime report 2020 chainalysis: the proportion of criminal activities in cryptocurrency transactions decreased sharply in 2020 chainalysis: cryptocurrency report 2021 chainalysis: the study found that the number of lost bitcoins was nearly 4million Goldman Sachs Group: the holdings of cryptocurrency assets accounted for only the United States The 0.3% decline of cryptocurrency in residents’ net assets has little impact on the U.S. economy FTC: cryptocurrency scams have lost more than $1billion since 2021 Freelander: Q3 cryptocurrency related job growth rate reached 82% in 2017 pitchbook: since the end of 2020, investment giants have invested nearly $43billion in the cryptocurrency industry

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