NFT sales dropped from $1 billion in April to $624 million in May, with Bitcoin, Ethereum, and Solana-based digital collectibles significantly declining.
Blockchain-based digital collectibles experienced a slowdown in May despite showing an uptick in April 2024, according to data tracker CryptoSlam.
On May 31, the nonfungible token (NFT) data platform showed that in the last 30 days, NFTs had a global sales volume of $624 million. This represents a 54% drop in overall NFT sales volume compared to April, when NFTs had a volume of over $1 billion.
Among the top blockchains used for nonfungible tokens, Bitcoin, Ethereum and Solana showed a decline in sales volume in May.
