Monthly stolen NFT value declining alongside traders and volume
Quick Take
- Less value is being thieved from the NFT sector month-over-month, according to PeckShield.
- Most stolen NFTs are quickly sold on Blur, the leading NFT marketplace by volume.
- NFT volumes, trades and unique traders are all in a downtrend.
According to blockchain security company PeckShield, roughly $1.73 million of NFTs were stolen last month — a 31% decrease from June and an 89% decrease from the $16.2 million stolen in February.
Additionally, PeckShield noted that half of all NFTs stolen were sold within 165 minutes — primarily on Blur, the leading Ethereum NFT marketplace by monthly volume.
The decline in monthly stolen NFT values correlates to a general decrease in NFT trading volumes — which declined more than 17% month-over-month in July.
According to The Block's Data Dashboard, monthly trades and monthly unique traders on Ethereum NFT marketplaces have also been steadily trending downward — indicative of declining interest in the crypto sector.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
