Over the past week, statistics show that non-fungible token (NFT) sales totaled $193.08 million, down 5.44% from the previous week. Ethereum dominated NFT sales with over $107 million or 55% of all sales, while Solana-focused NFT sales recorded $26.3 million or 13% of sales in the same period.
NFT Market Shows Signs Of Slowdown With Weekly Sales Declining And Lowest 30-Day Totals
Non-fungible token sales, or NFT sales, are down 5.44% this week compared to last week, with $193.08 million in sales recorded across 19 different blockchains. cryptoslam.io Statistics indicate that overall 30-day sales are down, with total sales at $912.54 million, more than 29% less than last month. The top five blockchains in terms of NFT sales this week were Ethereum ($107 million), Solana ($26 million), Polygon ($6 million), Immutable X ($5.3 million), and Cardano ($3 ,16 million).
Solana NFT sales increased 37.16% this week, while Cardano NFT sales increased 44.27% more than the previous week. However, sales for Ethereum, Polygon, and Immutable X NFTs posted losses compared to last week’s sales. Notable winners in terms of blockchain NFT sales include Arbitrum’s 64.49% increase and Avalanche’s 293% increase.
Palm’s blockchain sales increased 370%, and Algorand’s NFT sales increased 58% more than the previous week. While Ethereum dominates NFT sales with 55%, 18 other blockchains account for 45% of the remaining sales. The top five NFT collections last week, with the most sales, were Cryptopunks, Bored Ape Yacht Club (BAYC), MG Land, Otherdeed, and HV-MTL.
After those collections, from fifth to tenth in sales were Degods, Y00ts, Sorare, Mutant Ape Yacht Club (MAYC), and Gods Unchained Cards. Cryptopunks posted $12.55 million in sales this week, up 49.15% from last week. BAYC sales were approximately $10.14 million this week, up 43.52%, while MG Land captured $7.84 million, down 5.72% from the previous week.
In terms of the highest value NFT sales this week, Otherdeed #2,118 was the most expensive, selling for $375,979 three days ago. Cryptopunks #6036 sold for $365,508 two days ago, and Bored Ape Yacht Club (BAYC) #5647 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 were 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.
What do you think about the current state of the NFT market? Do you think the recent decline in sales is a temporary dip or a sign of a longer-term trend? Share your thoughts in the comments section below.
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