🦊 Veve Monthly Market Pulse 📈
February 2024
Hey VeveFam! 👋
Welcome back to your go-to source for data-driven insights into the fascinating world of Veve collectibles. Let's dive into the key data and insights for the month of February!
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👥 I Active Users:
Active wallets: 15,210 (+8.76%) ↗️
New wallets: 306 (+14.61%) ↗️
🔄 I Market Activity:
Trades: 103,107 (+14.10%) ↗️
Buyers: 7,596 (-0.04%) ↘️
Sellers: 8,410 (+6.50%) ↗️
💎 I Veve Store:
Drops: 19 (+1) ↗️
Minters: 10,242 (+17.20%) ↗️
Tokens issued: 86,181 (-15.09%) ↘️
Tokens minted: 79,571 (+40.22%) ↗️
Tokens issued/minted ratio: 92.33% (+65.15%) ↗️
Note: “Active Wallets” only include wallets that made at least one transaction on Veve, either in the store (mint) or in the secondary market. Not including users that engaged in any other way with the App. Likewise, “New Walltes” refers to wallets that have made their first transaction on Veve. This means the number of actual new installs or account creations on Veve might be higher.
💡 Key Insights:
📈 Rebound in User Activity: February showcased a notable uptick in user activity, marking an 8.76% increase in active wallets compared to the previous month. Additionally, new active wallets saw a reversal in trend with a 14.61% increase compared to the previous month, totaling 306 new active wallets.
📈 Market Activity Growth: There was a surge in the overall market activity with a 14.1% increase in trades. However, while the number of buyers remained stable, the number of sellers increased, shifting the buyer-seller dynamics in favor of sellers.
📈 Higher Drop Participation: February featured 19 drops, 1 more than in January. However the number of tokens issued was significantly lower compared to previous month, highlighting the lower edition run of the drops. Notably, there was an increase in minters and substantial surge in tokens issued/minted ratio, reaching 92%! This suggests a high appeal and strong demand for this months drops among collectors.
💭 Final Thoughts:
While January posed challenges with a downturn in user activity and market engagement, February showed a promising turnaround with notable increases in active wallets, market activity, and drop participation.
However, the shift in the market dynamics, particularly the increase in sellers, underscores the need for vigilant monitoring as Veve continues to navigate the evolving trends and preferences within the digital collectibles space.
That's it for this Month Roundup!
Stay tuned for further updates and insights as we navigate the ever-changing world of Veve! Until next time, happy collecting! 💎
— Kelly aka. VeveFox 🦊
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Note: I am not associated with Veve. I'm just a fox who is passionate about Data and Veve, and I'm excited to share my insights with all of you.
Disclaimer: Nothing in this or any other VeveFox Insider publication should be considered as financial or investment advice. Always exercise caution within the NFT space.