🦊 Veve Monthly Market Pulse 📈
March 2024
Hey VeveFam! 👋
Welcome to the latest edition of the Monthly Market Pulse, your quick briefing on the Veve scene.
Let's dive into the key data and insights for the month of March!
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👥 I Active Users:
Active wallets: 16,554 (+8.84%) ↗️
New wallets: 503 (+64.38%) ↗️
🔄 I Market Activity:
Trades: 121,180 (+17.53%) ↗️
Buyers: 8,374 (+10.24%) ↗️
Sellers: 8,875 (+5.53%) ↗️
💎 I Veve Store:
Drops: 15 (-4) ↘️
Minters: 11,965 (+16.82%) ↗️
Tokens issued: 73,238 (-15.02%) ↘️
Tokens minted: 147,530 (+85.41%)↗️
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 wallets’ 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:
📈 Surge in User Activity: March showcased an increase in user activity, with active wallets up 8.84% compared to the previous month. Particularly noteworthy was the substantial jump in new active wallets, which surged by 64.38% compared to the previous month, totaling 503 new active wallets. This trend paints a promising picture of growing engagement within the VeVe community.
📈 Market Activity Growth: The overall market activity also saw a significant surge, with trades, buyers, and sellers all experiencing notable increases. This uptick in market dynamics suggests a heightened engagement and enthusiasm among collectors and traders alike. While the sellers still outnumbered the buyers, the was a more pronounced increase in buyers (+10%) compared to sellers (+5.5%) leading to a more balanced buyer-seller dynamic.
📈 Surge in Tokens Minted: March featured 15 drops, 4 less than in February. Despite this reduction, the number of minters and mints experienced a substantial increase, with tokens minted rising by 85.41% compared to February. This surge can be partly attributed to the impact of the VeVe Comics Launch, highlighting its success and the overall popularity and adoption of digital assets among VeVe users.
💚 VeVe Comics Launch Impact: The launch of VeVe Comics has left a notable impact on the data, particularly evident in the considerable increase in tokens minted. Unfortunately, it leads to a skew in the tokens issued/minted ratio as only drops in the VeVe app are considered for the tokens issued count, while limited edition comic mints are counted towards the mint count. Therefore, I decided to exclude the metric for now.
💭 Final Thoughts:
March has been a month of positive growth and transformation within the VeVe ecosystem. The surge in user activity, market engagement, and tokens minted underscores the platform's increasing popularity and the community's growing enthusiasm.
The successful launch of VeVe Comics further solidifies VeVe's position as a leader in the digital collectibles space, providing users with innovative ways to engage with their favorite content.
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.