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.
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.
