NFT Sales Drop 5.4% to $193M, Ethereum Dominates with $107M in Sales: Weekly Recap
Over the past week, statistics show non-fungible token (NFT) sales totaled $193.08 million, down 5.44% from the previous week. Ethereum dominated NFT sales with more than $107 million or 55% of all sales, while Solana-centric NFT sales recorded $26.3 million or 13% of sales in the same period. NFT Market Shows Signs of Slowdown With Declining Weekly Sales and Lower 30-Day Totals
Non-fungible token sales, or NFT sales, fell 5.44% this week compared to last week, with $193.08 million in sales recorded across 19 different blockchains. Cryptoslam.io statistics indicate that 30-day sales are generally down, with total sales of $912.54 million, more than 29% lower than last month. The top five blockchains in terms of NFT sales this week were Ethereum ($107M), Solana ($26M), Polygon ($6M), Immutable X ($5.3M), and Cardano ($3.16M).
Solana’s NFT sales increased by 37.16% this week, while Cardano’s NFT sales jumped 44.27% higher than the previous week. However, Ethereum, Polygon, and Immutable X NFT sales all saw losses compared to last week’s sales. Notable gainers in terms of blockchain NFT sales include Arbitrum’s 64.49% rise and Avalanche’s 293% increase.
Palm blockchain sales increased by 370%, and Algorand NFT sales rose 58% higher than the previous week. While Ethereum dominates NFT sales with 55%, 18 other blockchains represent 45% of the remaining sales. The top five NFT collections this past week, with the most sales, were Cryptopunks, Bored Ape Yacht Club (BAYC), MG Land, Otherdeed, and HV-MTL.
Following those collections, the fifth through tenth top sales were Degods, Y00ts, Sorare, Mutant Ape Yacht Club (MAYC), and Gods Unchained Cards. Cryptopunks recorded $12.55 million in sales this week, up 49.15% higher than last week. BAYC sales were approximately $10.14 million this week, up 43.52% higher, while MG Land captured $7.84 million, down 5.72% from the previous week.
In terms of the highest-valued NFT sales this week, Otherdeed #2,118 was the most expensive, selling for $375,979 three days ago. Cryptopunks #6,036 sold for $365,508 two days ago, and Bored Ape Yacht Club (BAYC) #5,647 sold for $263,537 six days ago. Lastly, Cryptopunk #2,353 sold for $217,454 two days ago, and Otherdeed #99,728 sold for $205,711 three days ago. While there was close to $1 billion in sales over the past 30 days, the number of NFT buyers increased 17.36% to 1,904,731 this month. Tags in this story Art, Auction, Blockchain, Blockchain Art, Bored Ape Yacht Club, Buyers, Cardano, collectibles, Cryptocurrencies, Cryptocurrency, cryptopunks, Decentralization, Degods, Digital Art, Digital Assets, Ethereum, Gods Unchained Cards, high-value, HV-MTL, market, Markets, MG Land, Mutant Ape Yacht Club, nft, NFTs, Non-fungible tokens, Otherdeed, Ownership, sales, Solana, Sorare, Statistics, technology, trends, Weekly Recap, weekly sales, Y00ts
What are your thoughts on the current state of the NFT market? Do you think the recent decrease in sales is a temporary dip or a sign of a more long-term trend? Share your opinions in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Credit Suisse, UBS, Other Banks Facing Russia Sanctions Probe in US, Report NEWS | 1 hour ago Arbitrum"s Governance Token ARB Ranks Within Top 40 Market Capitalizations Following Airdrop NEWS | 5 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleArbitrum’s Governance Token ARB Ranks Within Top 40 Market Capitalizations Following Airdrop Next articleCredit Suisse, UBS, Other Banks Facing Russia Sanctions Probe in US, Report Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method