As Ethereum NFTs grow, here’s what you should consider

In June 2023, there was a notable increase in the number of Ethereum (ETH) NFT mints, marking a reversal from the previous declining trend. After reaching a low point in May, the number of ETH NFT mints grew by over 48% in June. This uptick in activity indicates renewed interest and engagement in the Ethereum NFT space.

Furthermore, the number of ETH NFT sellers and buyers also experienced growth, increasing by more than 20% during the same period. This suggests that both creators and collectors are actively participating in the Ethereum NFT market.

However, despite these positive developments in the NFT space, ETH's price faced challenges. Last week, ETH's price declined by nearly 3%, and several metrics indicated a bearish trend. Although ETH briefly crossed the $1,900 mark, it was unable to sustain the uptrend and settled below that level.

The overall market activity for Ethereum NFTs showed mixed results. While the number of mints and the involvement of buyers and sellers increased, the trade counts and trade volume in USD experienced a decline after spiking in June, according to Santiment's data.

Given these factors, it is difficult to predict ETH's price movement in the coming days. Investors should closely monitor market trends and factors that influence ETH's performance to make informed decisions.

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