NFTs
NFT sales drop, Bitcoin takes a hit but dominates market share
Sales of non-fungible tokens (NFTs) took a hit last week, dropping 11.16% from the previous week.
Data from cryptoslam.io show that total sales this week reached $144.33 million, with Bitcoin-based NFTs contributing more than $49 million to that total. However, despite the impressive numbers, sales of digital collectibles in Bitcoin (Bitcoin) fell 14.65%.
NFTs on Ethereum (ETH) generated $41.55 million in sales, also an 11.7% drop from the previous week. Solana (SUN) NFTs, which rank third in sales, made nearly $26 million, experiencing a modest 5.73% increase this week.
By cryptoslam, the Polygon (MATIC) network recorded the fourth largest NFT sales volume in the previous seven days, raising US$9.66 million.
However, the number represented a 14.2% drop compared to what NFT traders on the blockchain had sold at the same point a week ago.
Summarizing the top five blockchains by sales volume was immutable (IMX), which recorded a respectable $6.49 million in sales.
The value represented an increase of more than 8%, making Immutable the only other chain in the top five whose sales volume improved over the period.
Top 5 Blockchains by Weekly NFT Sales Volume | Source: cryptoslam.io
NFT Collections
This week’s top seller was Uncategorized Ordinals from the Bitcoin blockchain, bringing in $22.9 million in sales. Collectibles sales were down nearly 30% from the previous week.
Mythos’ Dmarket collection came in second place, grossing $5.817 million, which marked a drop of 17.24%.
On the other hand, the Nodemonkes collection on the Bitcoin blockchain saw a 10.56% increase in sales, reaching $4.77 million in 246 transactions.
Other notable collections this week included Mad Lads, CryptoPunks, Degods, and Solana Monkey Business. The Mad Lads collection, hosted on Solana, saw the biggest improvement in terms of sales volume, with $4.5 million changing hands representing a 130% increase over last week.
Top 5 NFT Collections by Weekly Sales Volume | Source: cryptoslam.io
Among individual NFTs, the most significant and expensive sale during the week was Cryptopunk #3619, which raised $627,991.
Additionally, Solana’s Boogle #064 changed ownership for $192,124, while BTC network’s Mushroom #95 gained $135,096.
The consistent decline in sales week over week indicates cautious sentiment among collectors.
According to data from Cryptoslam, there were just over 145,000 active buyers in the market during the week – an 86% drop from the previous week.