🦊 Veve Monthly Market Pulse 📈

April 2024

May 08, 2024

Hey VeveFam! 👋

Here is the April’24 Monthly Market Pulse, your quick briefing on the Veve ecosystem.

I am trying out a new layout for the Monthly Market Pulse series, adding more visuals and historic charts. I hope you like it!

If you don’t want to miss out on any updates on the latest Veve insights and trends don't forget sign up for free to get every new issue directly into you inbox!

👥 Active Users

⚠️ Important Note: April data for active wallets as well as new active wallets is highly inflated because of the OMI Rewards Season One airdrop that took place on the 12th of April. As airdrops are send from the Veve Wallet to the user wallets they are recorded as a transaction. What we can infer from this data is that there were a lot of inactive wallets and wallets that had never transacted before but held OMI in the app. 📉 Excluding the 12/4 data there was only a total of 252 new active wallets, the lowest this year so far.

🔄 Market Activity

⚠️ Important Note: Same as with active/ new active wallets, April data for buyers is highly inflated because of the OMI Rewards Season One airdrop, also leading to a skewed buyer-seller ratio.

📉 Market Activity Decline: Besides the number of buyers, there was a slight drop in sellers and overall trades, suggesting a cooldown of engagement.

💎 Veve Store

📉 Reduced drop participation: April featured 17 drops, 2 more than in March, which also came with an increase in tokens issued. However the number of unique minters dropped significantly (-22%) which again suggest reduced participation.

🛍️ Net Accumulation

📈 Positive accumulation trend: Although the Avg. Net accumulation per wallet was significantly lower in April compared to March. Overall, Net accumulation of active wallets shows a positive trend with a significant decline in NetZero and NetNegative Accumulators and an increase in NetPositive accumulators.

💙 Engagement

📈 The Churn Rate is showing a slight increasing trend since February.

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 🦊

💬 How did you like this new format? Please let me know in the comments, any feedback is welcome!

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.

VeveFox Insider