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NFT Sales Defy Crypto Market Downturn, Rising 4.52% This Week

source-logo  news.bitcoin.com 29 June 2024 15:16, UTC

Despite a general decline in cryptocurrency markets this week, non-fungible token (NFT) sales rose by 4.52% compared to the previous week. NFT sales totaled approximately $101,467,710 over the past seven days, with Ethereum-based digital collectibles dominating the market.

NFT Landscape Shifts

This week, the leading top five blockchains for NFT sales were Ethereum, Polygon, Bitcoin, Solana, and Mythos. Of the $101.46 million generated, Ethereum led with $32.42 million in digital collectible sales, despite an 11.55% decline in ETH-based NFT sales. Polygon saw a 42.92% increase this week, reaching $22.19 million, while Bitcoin garnered $17.87 million, up 1.55%.

The top-selling NFT collection of the week was Cryptopunks from Ethereum, with $5,794,266 in sales, an 18.22% rise. Mythos’ Dmarket NFT sales amounted to $4.13 million, down 5.9%. Bored Ape Yacht Club (BAYC) secured the third spot with $3.56 million, a 4.54% increase. Bitcoin’s Nodemonkes and Immutable X’s Gods Unchained took the fourth and fifth positions.

A few Polygon collections saw a substantial increase compared to last week, including Sea Dragon, Sunny Girl, Milady NFTs, and ONFA Collections. Bitcoin Puppets experienced an 11.20% rise, while Ethereum’s Pudgy Penguins faced a 20.84% loss. Cryptopunk #627 was the highest-priced NFT sold this week, fetching $836,149 four days ago. Bitcoin’s Punk #50 sold for $306,725 five days ago, and Solana’s Urbannode sold for $37,749 just over a day ago rounding out the top three.

As crypto markets endured a downturn this week, the nuanced dynamics of NFT sales underscore a divergent narrative. While Ethereum continues to lead despite fluctuations, Polygon’s recent surge, both this week and last week, highlights shifting NFT trader interests within the digital collectibles space. This week’s activities not only reflect the evolving landscape but also suggests a continued appetite for NFTs amidst broader market uncertainties, especially after weeks of lackluster sales.

What do you think about the uptick in NFT sales this week? Share your thoughts and opinions about this subject in the comments section below.