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In the last week, the market for non-fungible tokens (NFTs) has seen a decline, with sales falling 12.67% compared to the previous week, totaling $255.22 million. Ethereum took the lead in NFT sales, raking in $133 million, while Solana followed with sales over $46 million, relegating Bitcoin to third place with $40.9 million in sales.
7-Day NFT Sales Drop Follows Last Week’s Uptick
Over the past week, NFT sales have witnessed a 12.67% decrease compared to the preceding week, with the volume of NFT transactions also declining by over 11%. Among the top five blockchains by NFT sales volume, four experienced reductions in week-over-week sales, ranging from an 11.27% decrease for Ethereum to a 21.61% downturn for Bitcoin.
Polygon, ranking fourth in sales, brought in $6.52 million, marking a 21.59% fall from the previous week. In contrast, Mythos bucked the trend, registering a 3.38% increase to secure $6.51 million in sales and the fifth spot, according to cryptoslam.io metrics.
This week, Pandora led the pack in sales, amassing $39.93 million, despite a 33.41% decrease from the previous week. Solana’s Transdimensional Fox Federation clinched the second spot, securing $6.95 million, a notable 28.22% increase within a seven-day span.
Pudgy Penguins saw a significant rise of 38.34% in sales, bringing in $6.64 million. Dmarket captured $6.31 million in sales, marking a modest 3.16% uptick from the week before. Meanwhile, Uncategorized Ordinals landed in fifth place, with sales totaling $6.24 million, a steep 53.04% fall from the week prior’s sales.
This week’s spotlight also shone on other notable NFT collections such as Mad Lads, Doodles, Moonbirds, Bored Ape Yacht Club (BAYC), and Gods Unchained, which completed the top ten list. The highest sale accolade was claimed by Pandora #54,222, fetching a cool $1.48 million just a day ago.
Cardano’s Happy Hoppers Club Poster #09281 clinched the second-highest sale, commanding $863,409, while Ordinal Maxi Biz (OMB) #a3b668 garnered $162,150. The fourth priciest transaction was for gUSDC Locked Deposit #15, which changed hands for $99,999 USDC. Rounding off the list, the BNB-issued Lockdealnft #33254 was snapped up for $90,743.
This past week in the NFT world has been a bit of a mixed bag. While the broader market experienced a downturn, highlighting the capricious nature of the NFT market, certain highlights still managed to keep the pulse of the market alive.
Notably, Moonbirds soared with a 1,057% increase this week following Yuga Labs’ acquisition of its intellectual property. Similarly, Yuga’s BAYC collection enjoyed a 23.36% rise. Conversely, Bitcoin’s presence in the NFT sector has seen a significant reduction, culminating in this week’s low point that relegated its sales to third place in the rankings.
What do you think about the NFT sales figures this week? Share your thoughts and opinions about this subject in the comments section below.