The value of stolen non-fungible tokens contracted in July from the previous month – a continuation of a downward trend that correlates with a general fall in NFT rates, market-wide.
According to blockchain security firm PeckShield, about $1.73 million in NFTs were stolen last month — down 31% from June and down 89% from the $16.2 million stolen in February.
Additionally, PeckShield noted that half of all stolen NFTs were sold within 165 minutes – primarily on Blur, the leading Ethereum NFT marketplace by monthly volume.
The decline in monthly stolen NFT values correlates with an overall decline in NFT trading volumes – which fell by more than 17% month-over-month in July.
According to The Block’s data dashboard, monthly transactions and monthly unique traders on Ethereum NFT marketplaces are also on a steady downward trend – an indication of declining interest in the crypto sector.