🦊 Veve Monthly Market Pulse 📈
November 2023
Hey VeveFam! 👋
Welcome back to VeveFox Insider, your go-to source for the latest updates and trends in the Veve and digital collectibles universe.
Let's dive into the key data and insights for the month of November:
👥 I Active Users:
Active wallets: 16,271 (-29.87%) ↘️
New wallets: 412 (-39.41%) ↘️
🔄 I Market Activity:
Trades: 84,450 (-29.90%) ↘️
Buyers: 7,935 (-34.56%) ↘️
Sellers: 7,759 (-34.47%) ↘️
💎 I Veve Store:
Drops: 18 (-7) ↘️
Minters: 10,745 (-41.03%) ↘️
Tokens issued: 110,753 (-18.57%) ↘️
Tokens minted: 59,464 (-41.46%) ↘️
Tokens issued/minted ratio: 53.69% (-28.11%) ↘️
💡 Key Insights:
📉 Decline in User Activity: November saw a substantial decline in active wallets, marking a 29.9% decrease from the previous month. New active wallets also hit a new low for 2023, numbering only 412. While these figures are concerning, it's crucial to contextualize them within external factors, such as Black Friday, potentially diverting spending elsewhere.
📉 Market Contraction: The overall market activity experienced a contraction, with trades, buyers, and sellers all experiencing a decline, reflecting a more conservative approach by users. On a positive note, the buyer-seller ratio remained balanced, with the number of buyers still slightly surpassing sellers.
📉 Reduced Drop Participation: November featured a significantly lower number of drops compared to the previous month, leading to a substantial reduction in total tokens issued and minters. The diminished market offering might have also contributed to the overall decrease in market activity. However, the noteworthy drop in the tokens issued/minted ratio, marking only 53.7%, also suggests a diminished appeal of this month's drops overall.
💭 Final Thoughts:
November seemed to continue the concerning trend we already witnessed in September, possibly reinforced by external events such as Black Friday, but also due to a lack of captivating drops. The outstanding performance in October, fuelled by the excitement of the Comic Con event, may have set high expectations that were challenging to maintain.
As we reflect on these insights, it's crucial to consider these factors within the broader context of the still nascent digital collectibles landscape. The Veve team remains dedicated to delivering exciting content and experiences, and it will be interesting to see how these efforts will unfold in the coming months.
That's it for this Month Roundup!
Stay tuned for further updates and insights as we navigate the ever-changing world of Veve! Happy collecting! 💎
— Kelly 🦊
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