Cointime

Cointime

Download App
iOS & Android
Home / NFT

Cardano's NFT Market Outperforms Top Blockchains Despite Decline in Traders

Cardano's NFT market performance in June surpassed some of the top blockchains in the industry, despite a decline in traders and being nicknamed the "ghost chain". While monthly unique NFT buyers on Cardano decreased significantly from its peak in October 2021, traders on the platform suffered fewer losses compared to some of the world's top NFT networks.

Although some top Cardano NFT projects have been inactive on social media, creators are still releasing their NFT collections on the platform, with some selling out within 48 hours of launch. However, a Twitter user expressed concern about the silence of top 50 projects on the Cardano blockchain, and low crypto market liquidity is affecting the NFT market performance on all blockchains.

Despite these challenges, Cardano developers are continuing to build a healthy NFT ecosystem, with Anndy Lian praising the platform's user-friendly experience for NFT creators and traders.

Cardano Cardano $0.89
+0.32%
Cardano Blockchain
Comments

All Comments

Recommended for you

  • NFT market total sales fell 26.2% to $46 million in June

    On July 8th, Binance Research's latest report showed that the crypto market experienced a significant downward trend in June 2024, with an overall decline of up to 11.4%. Due to the market downturn, the TVL (total locked value) of DeFi decreased by 8.7% in June. The NFT market also continued to be sluggish, with a total sales volume of $46 million in June, a decrease of 26.2% compared to May. The monthly sales volume of DMarket, the in-game item trading platform for Mythos, was the highest at $18.9 million, followed closely by CryptoPunks with sales of $16.1 million. The sales of top-tier ordinal series such as BitcoinPuppets and NodeMonkes decreased significantly, by 40.6% and 41.0%, respectively. BoredApeYachtClub's monthly sales volume slightly decreased, while PudgyPenguins performed better than the market, rising by 68.9%.

  • MarbleX and Netmarble Launch $20 Million Ecosystem Promotion Plan

    Ethereum game platform Immutable has announced a partnership with the blockchain game division Marblex of South Korean gaming giant Netmarble. The collaboration will migrate Marblex's ecosystem and its multiple games from the Klaytn blockchain to the Ethereum Layer 2 network Immutable zkEVM. The games include "Ni no Kuni: Cross Worlds", "A3: Still Alive" and "Meta World: My City", and the two parties will also launch an "ecosystem promotion plan" to provide up to $20 million in support to developers to attract new games to join Marblex and Immutable. It is currently unclear whether the Immutable migration will affect Saga's plans, and the project representatives have not commented on the issue.

  • Blockchain Asset Management announces launch of a dedicated blockchain fund for accredited investors

    Blockchain Asset Management, a cryptocurrency fund with a scale of $100 million, announced the launch of an exclusive blockchain fund for qualified investors. The specific amount of funds raised by the fund has not been disclosed yet, but it is said to have reached "eight figures", which means it is in the tens of millions of dollars. In addition, the investment threshold for the new fund is $100,000, and all investors are required to meet the approved standards (annual income exceeding $200,000, net assets exceeding $1 million).
  • Cointime精选 ·

    Backup your life with the blockchain

    Growing up my family was always moving homes. I've never had somewhere I could really call my own. Like many other people whose families have rented home to home their entire lives, you soon realise how much of a hassle it is to have a lot of belongings. It's why I prefer to throw away a lot of my keepsakes or momentos and while it's nice to be able to look back at something that reminds you of a former time in your life. It soon starts getting impractical. There's no possible way you can hold on to every keepsake you accumulate in your life. You might have visions of sharing some of your favourite memories with your grandkids but most of the time those old drawings, trophies, shirts or whatever other item you find valuable soon get eaten away by the cruel nature of time.
    Backup your life with the blockchain
  • Cointime精选 ·

    State of Cardano Q4 2023

    Cardano (ADA) is a Proof-of-Stake (PoS) Layer-1 smart contract network launched in 2017. Cardano aims to provide security, scalability, and sustainability to decentralized applications and systems building on top of the blockchain. In addition to the community of developers, node operators, and projects, Cardano is supported by multiple entities: Input Output Global (IOG), dcSpark, MLabs, The Cardano Foundation, EMURGO, and more. They work together to support the network’s development, adoption, and finances while Cardano moves toward the age of Voltaire.
    State of Cardano Q4 2023
  • a16z ·

    Big Tech killed the internet — blockchains can help revive it

    The early internet was a magical place because it was driven by people and their creativity. Builders knew that whatever they made, they owned — a simple promise that established the right incentives for the technology to flourish. But now, the internet is stagnating and it’s harder than ever for new apps to break through.
    Big Tech killed the internet — blockchains can help revive it

  • NFT sales on the Ethereum chain exceeded US$350 million in January, down 2% from December

    According to the latest data from Cryptoslam, the sales of NFTs on the Ethereum blockchain in January reached about $356 million, a decrease of about $7 million from December, a decrease of about 2%. In addition, the transaction volume of NFTs on the Ethereum blockchain in January reached 929,000 transactions.

  • NFT sales on the Bitcoin chain exceeded US$335 million in January, setting the third highest single-month record to date

    According to Cryptoslam data, as reported by Jinse Finance, the Bitcoin blockchain NFT sales in January 2024 exceeded $335 million, with a trading volume of nearly 250,000 transactions, including over 67,000 independent sellers and approximately 78,000 independent buyers. Historical data shows that January 2024 is the third-highest single-month record on the Bitcoin blockchain to date, surpassed only by the highest record of approximately $869 million set in December 2023 and the second-highest record of approximately $376 million in November 2023.

  • CoinGecko: NFT trading volume will drop by $14.5 billion month-on-month in 2023

    According to a report by CoinGecko, NFT transaction volume in 2023 will be less than half of that in 2022, dropping from $26.3 billion to $11.8 billion, a decrease of $14.5 billion. The dashboard of Dune Analytics shows that the transaction volume of OpenSea, the leader in the NFT market, exceeded $2 billion for 9 consecutive months between 2021 and 2022, but shrank to about $170 million in December 2023. Rohan Handa, the NFT director of Mysten Labs, said that the decline in the field was caused by poor macroeconomic conditions and notable collapses, which weakened the public and investors' confidence in the unstable crypto industry.

  • NFT sales on the Bitcoin chain exceeded US$880 million in December 2023, setting the highest single-month record to date

    According to CryptoSlam data, the Bitcoin blockchain's NFT sales in December 2023 reached a record high of $881,223,753.92, with 111,713 buyer addresses and 98,744 seller addresses, both setting new monthly records. As of now, the total NFT sales on the Bitcoin blockchain have reached $1.83 billion, making it the fourth largest blockchain for NFT sales, behind only Ethereum ($42.12 billion), Solana ($4.62 billion), and Ronin ($4.25 billion).

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company