The sales volume of NFTs has declined by 45% quarter-on-quarter in 2024 amidst a downward momentum in the Bitcoin market. Despite an uptrend in Q1, NFT volumes significantly declined in Q2 of 2024. Digital collectibles recorded a quarterly volume of $2.24 billion, the lowest quarter since the third quarter of 2023. June was also a hard month for NFTs as the average value of NFT sales sank by 59% compared to March. Also, June is on its way to record the lowest number of NFT transactions since March 2021.

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