NFT Sales Plunge 21% Amid Broad Crypto Market Decline

Global non-fungible token ($NFT) sales experienced a decline this week, dropping 21% from the previous week. Across 21 unique blockchains, the total sales just surpassed the $100 million mark over the past seven days.

Weekly $NFT Sales Fall, Cryptopunks and Pudgy Penguins Surge

$NFT sales have significantly decreased this week, correlating with the broader downturn in the crypto markets. As of press time, data indicates that $NFT sales reached $102,328,020 over the last seven days, according to cryptoslam.io.

This drop occurred despite a 74.62% rise in buyers and a 64.31% increase in sellers. Among the 21 chains, Ethereum led with $38.46 million in sales, though ETH-based $NFT sales dipped 2.62% this week.

Seven-day $NFT sales volume according to cryptoslam.io.

Polygon secured the second position in weekly sales, totaling $19.92 million, marking a 13.24% increase. Bitcoin ranked third with $17,590,362 in sales, though BTC-centric digital collectible sales fell 59.55% from the previous week.

Solana’s sales reached $14.37 million, showing a 1.69% decrease. Mythos completed the top five with $4.61 million, with sales down by 3.61%. The standout collection this week was ethereum’s Cryptopunks, generating $4.98 million in sales, a 171.29% increase from the previous week.

Mythos’ Dmarket followed with $4.36 million in sales, a 2.74% decrease from last week. Ethereum’s Pudgy Penguins also saw a significant increase, jumping 204.25% and achieving $3,672,328 in sales.

Bored Ape Yacht Club (BAYC) placed fourth this week with $3.57 million in sales, rising 53.92%. Bitcoin Pizza digital collectibles garnered $2.43 million, although sales fell 88.91%.

The most expensive $NFT sold this week was Cryptopunk #5,569, which fetched $204,066 three days ago. While Bitcoin $NFT sales underperformed this week, bitcoin has surpassed Ronin, becoming the third largest in all-time sales.

To date, Bitcoin has achieved $4.3 billion in $NFT sales, a notable milestone but significantly less than the $43.88 billion sold via Ethereum. To surpass Solana, the second highest in $NFT sales, Bitcoin needs approximately $1.3 billion more in sales.

What do you think about the $NFT sales this week? Let us know what you think about this subject in the comments section below.