July proved to be a significant month for the NFT market, with a notable increase in sales volume alongside a decline in the number of tokens sold, indicating a shift in buyer preferences.
General Data on NFT Sales
In July, the NFT sales volume reached approximately $530 million, nearly double that of June. However, the number of NFTs sold dipped slightly to around 5 million. The average selling price more than doubled, reaching $105, indicating a growing interest in premium assets.
Market Changes in NFTs
The NFT market has seen notable changes. Blur captured the majority of Ethereum's trading volume, accounting for nearly 80%, driven by professional traders and its Blend tool. However, OpenSea remains the preferred platform for active traders, attracting tens of thousands of users due to its multichain listings. On the Base network, Zora is gaining traction by offering lower minting costs through its native token.
Trends in DeFi and Tokenized Stocks
Although DeFi was somewhat overshadowed in the headlines, it also experienced impressive growth in July. The total value locked climbed above $259 billion and briefly touched a record $270 billion. Ethereum maintains a leading position with $166 billion, supported by both price gains and staking yields near 30% APY. The rapid growth of Hyperliquid has helped Solana's volume grow to $23 billion. A particularly notable trend was the explosive growth of tokenized stocks, whose user interactions skyrocketed, showing a strong appetite for blending traditional finance with blockchain infrastructure.
July marked a pivotal month for both NFT and DeFi, indicating changes in trader preferences and a growing interest in new opportunities in the market.
