NFTs
NFT sales drop 16% to less than $122 million: what happened?
This week marked a significant slowdown for the non-fungible token (NFT), which saw sales fall nearly 16%, following a 17% increase the previous week.
Per CryptoSlamtotal sales reached US$121.7 million, with more than 519 thousand buyers and sellers actively trading.
Analysis of Blockchain NFT Sales
Blockchains by NFT Sales Volume | Source: CryptoSlam
Ethereum (ETHThe chain ) led the charge with $39.28 million in sales, a notable 14.48% increase from the previous week.
This increase was accompanied by a sharp increase in the number of active buyers in Ethereum NFT space, with the number rising almost 48% to reach 23,586. The network also saw an increase in laundering trade, up 35.49% to more than $34 million.
Bitcoin (Bitcoin), which was the busiest chain in terms of sales the previous week, fell to second place this week with about $26.5 million in sales, representing a drop of 45.60. Bitcoin recorded more than 18,000 active buyers, an impressive 804% increase from last week. On-chain wash trading decreased by around 53%, settling at $20,030.
After a 22% increase in sales the previous week, this week saw Polygon (MATIC) reduced its weekly sales volume by almost 5.5% to US$18.43 million. Solana (SUN) came in fourth place, with US$14.631 million in sales, a drop of 18.18%. In turn, ImmutableIMX) saw an increase, with sales increasing 9.40%.
Top NFT sales
The biggest sale of the week was on the Ethereum blockchain, with one NFT selling for $587,194. A Bitcoin Ordinal, Protoshroom #6, changed hands for $237,373, while a Polygon TTAvatars #128003 sold for $100,500.
Solana’s DeezNode #052 sold for $77,839, beating a BNB NFT, Ape Treasury Bill V2 V3 #12668, which sold for $31,516.
Among collections, Immutable’s Guardian Guild Avatars had the highest sales volume over the past seven days, grossing over $8.1 million across 1,614 transactions.
Bitcoin PIZZA NFTs followed, generating $7.3 million, which represented a drastic 60% reduction in their numbers compared to the previous week.
A new entrant into the top five collections ranked by sales volume was Ethereum naming service (ENS), which secured third place with more than $5.3 million in NFTs sold. The number represented an incredible jump of 1,022%, with the money coming from just 295 buyers.
The DMarket collection on Mythos earned $4.6 million in nearly 190,000 transactions, while the Bitcoin network’s Bitcoin Puppets took 5th place with around $2.7 million in sales.