NFT Trading Volumes Record 74% Decline Between the Months of May and June

Monthly trading volumes for non-fungible tokens (NFTs) fell 74% between the months of May and June. May saw $4 billion in volume, while June saw $1.04 billion in trading volume, as per The Block’s data dashboard.

The 74% decrease is the largest month-over-month decline in NFT marketplace trading volume to date. The second biggest month-over-month decline occurred between February and March of this year, which saw a decrease of 48%.