Monthly stolen NFT value declining alongside traders and volume
Most stolen NFTs are quickly sold on Blur, the leading NFT marketplace by volume.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.The value of stolen non-fungible tokens shrank in July relative to the month prior — continuing a downtrend that correlates to a general decline in NFT interest, market-wide.
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.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© 2023 The Block Crypto, Inc. 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.
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