This Week’s NFT Sales Slump 11.66%—Will the Downtrend Turn Around?

In the past week, non-fungible token ($NFT) sales have dipped by 11.66%, totaling $81.7 million. Despite this decrease, there’s been a significant uptick in market activity: the number of $NFT buyers has skyrocketed by 172.98%, while $NFT sellers have also seen an impressive rise of 120.51% over the same period.

$NFT Market Chaos: Prices Drop, But Buyer Interest Skyrockets

While the number of buyers and sellers is on the rise, they’re not shelling out big bucks for NFTs compared to the prices seen a few months ago. Overall sales have slipped by 11.66% from the previous week, with Ethereum leading the charge in $NFT sales this week.

ETH-based NFTs generated $28.2 million, though this is a 9.49% dip from last week. Solana followed with $16.37 million in $NFT sales, marking a 15% decline. Bitcoin-based NFTs secured the third spot, raking in $13.88 million, though sales are down 5.7%.

This week’s top $NFT collection, Mythos’ Dmarket, held onto its crown, recording just over $5 million in sales, despite a more than 31% decrease. Sorare claimed second place with $3.6 million in sales, reflecting an 8.88% increase from the previous week.

Guild of Guardians came in third with $3.5 million, a slight dip of 1.84%. Bitcoin’s Uncategorized Ordinals collection took the fourth spot, posting $3.1 million, a staggering 790% increase.

The priciest $NFT sale of the week was an Uncategorized Ordinal, which fetched $2.4 million just 18 hours ago. Ethereum’s Bored Ape Yacht Club $NFT #2,579 sold for $342,542 two days ago, while BNB’s Paraluni Perpetual Bond #841 went for $134,751 three days back.

Solana’s Frogana #4559 was the fourth most expensive, selling for $82,689 around six days ago, according to cryptoslam.io’s $NFT market data. While $NFT buyers and sellers are up, $NFT transactions are down, 10.5% lower than last week at 1,669,180.