The non-fungible token (NFT) market has seen a 4.16% decline in sales volume over the past seven days, with significant drops in buyer and seller activity.
NFT Market Overview
According to the latest data from Cryptoslam, the NFT market recorded $77.6 million in sales over the past week, down from previous levels. Here’s a breakdown of the market activity:
- Sales Volume: Dropped to $77.6 million, lower than last week’s sales.
- Buyers: Fell by a massive 66.81% to 263,804, down from 794,763 last week.
- Sellers: Decreased by 67.87%, now standing at 121,399.
- Transactions: Dropped by 13.78%, totaling 1,662,101 transactions.
Bitcoin Leads Blockchain Surge
While the overall NFT market shrunk, Bitcoin saw a significant surge in its NFT-related activity. Here’s a look at the leading blockchains over the past week:
- Ethereum: Despite its first-place rank in sales volume, Ethereum experienced a 0.41% drop in price. Total NFT sales reached $26.5 million, but $2.7 million of this was wash trading. The number of Ethereum NFT buyers fell by 52% to 26,673.
- Bitcoin: The Bitcoin network saw a 23.11% surge in sales volume, reaching $15.6 million in total sales, compared to just $1.7 million last week.
- Solana: Solana placed third, with sales totaling $10.5 million. It had the highest number of buyers at 60,115, though still lower than last week’s 393,044 buyers.
Other notable blockchain performers include:
- Mythos Chain (MYTH): $8.3 million in sales.
- Polygon (POL): $5.3 million in sales.
- Binance Coin (BNB): $3.2 million in sales.
Top NFT Collections by Sales Volume
Despite the overall decline, some collections maintained strong sales:
- DMarket: Retained its position as the top NFT collection, with $8.02 million in sales from over 342,900 transactions.
- Guild of Guardians Heroes: Ranked second with $3.02 million in sales.
- Bitcoin Puppets: Saw a 59.2% increase in sales volume, reaching $2.97 million, dethroning CryptoPunks from the third position.
Top NFT Collectible Sales (Last 7 Days)
Below are the top individual NFT sales from the past week:
- Bored Ape Yacht Club #7940: Sold for $1,433,582 (588 ETH).
- Axie Infinity: Sold for $79,729 (32.6 ETH).
- Known Origin #33608: Sold for $73,160 (30 WETH).
- CryptoPunks #7476: Sold for $70,728 (28.99 ETH).
- CryptoPunks #3654: Sold for $69,672 (28.5 ETH).
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