🦊 Veve Monthly Market Pulse 📈
January 2024
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 January:
👥 I Active Users:
Active wallets: 13,985 (-18.80%) ↘️
New wallets: 267 (-30.10%) ↘️
🔄 I Market Activity:
Trades: 90,367 (-15.74%) ↘️
Buyers: 7,599 (-26.83%) ↘️
Sellers: 7,897 (-11.90%) ↘️
💎 I Veve Store:
Drops: 18 (-6) ↘️
Minters: 8,739 (-27.54%) ↘️
Tokens issued: 101,501 (-21.94%) ↘️
Tokens minted: 56,746 (-27.75%) ↘️
Tokens issued/minted ratio: 55.91% (-7.44%) ↘️
💡 Key Insights:
📉 Decrease in User Activity: January experienced a notable decrease in active wallets, showing an 18.8% decline compared to the previous month. New active wallets dropped to 267 which is a staggering 30.1% decrease compared to December.
📉 Market Activity Decline: The overall market activity witnessed a decline, with trades, buyers, and sellers all experiencing reductions. This downturn might be partly attributed to a reduced number of drops and tokens issued compared to the previous month. Notably, the decline in buyers was higher compared to sellers, while the buyer-seller ratio remains balanced, it is the first time since July’23 that we see more sellers than buyers.
📉 Reduced Drop Offering and Participation: January featured 18 drops which is 6 less than in December and 22% less tokens issued, which also led to a drop in minters. However, the tokens issued/minted ratio dropping to 56% also suggests a diminished appeal of this month's drops overall.
💭 Final Thoughts:
January presented a challenging start to the new year, characterised by another downturn in user activity and market engagement across various metrics.
Furthermore, there was a worrying shift in market dynamics as sellers surpassed buyers for the first time again since July '23. While the buyer-seller ratio still remains balanced, it's a trend we want to monitor closely.
On a positive note, the community gathering at the cryptoXR event in Auxerre was definitely a first highlight of the year and a testament to the outstanding sense of community Veve has managed to build. Attendees returned with newfound optimism and excitement, which translated to a notable positive shift in sentiment across the online community 🚀✨
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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