According to data from on-chain analytics platform Dune Analytics, so far in July, Ethereum NFT dollar transaction volume is worth more than $495 million, compared with $695 million in June, a 29% decrease from the previous month.

If the recent trend of daily average transactions continues, OpenSea could end the month with about $530 million in ethereum transactions, down nearly 24% month-on-month.

However, the number of users of NFTs on OpenSea increased slightly in July, with the number of unique traders rising slightly to more than 400,000 from nearly 393,000 in June.

Additionally, OpenSea sold about 1.61 million NFTs on the Ethereum blockchain, compared to 1.54 million for the whole of June.