- The number of ETH NFT sellers and buyers grew by more than 20% last month.
- ETH’s price declined by nearly 3% last week, and most metrics looked bearish.
Ethereum [ETH] NFTs were having a hard time for quite a few months as the number of mints plummeted. However, the scenario witnessed a trend reversal since last month as the numbers rose. Not only that, but user activity also registered an uptick as per the latest data.
Read Ethereum’s [ETH] Price Prediction 2023-24
While this happened, ETH was able to once again cross the $1,900 mark. But the uptrend did not last long, as its price once again settled under that mark. Should investors expect ETH’s price to rise in the coming days?
A closer look at Ethereum NFTs
A recent tweet posted by Nansen revealed that the number of ETH NFTs minted were declining. In fact, it reached its lowest level in May 2023 since June 2021. Not only that, but IntoTheBlock’s tweet also pointed out a similar declining trend in terms of NFT sales, as they reached 50,000.
However, things have finally started to change, as pointed out by Nansen’s tweet, as the number of mints increased by 48% in June.
Ethereum NFT mints in May were the lowest they’ve been since June ’21. But last month there was a 48% increase!
– 54% are in profit
– 39% are valued less than mint price
– 7% are deadTotal Ethereum NFT mints in June: 752
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Author: Dipayan Mitra