The nft market continues to see a decline, with sales falling 12% last week.
Retirement sales fell 16% over the previous week.
According CryptoSlamTotal sales over the past seven days amounted to just under $100 million and involved more than $785,000 worth of buyers and sellers in 1.4 million transactions.
ethereum leads the pack
ethereum (eth) was once again the most active blockchain for nft sales, leading the pack with transactions worth $38.4 million.
Notably, ethereum saw a surge in wash trading last week, with money earned from the activity rising nearly 9.5% to $37.69 million.
Polygon (MATIC) was one of the biggest winners last week. Sales increased by 11.2% to overtake the bitcoin (btc) network and take second place.
Interestingly, wash trading on the platform has continued to increase. Over the past week, Polygon recorded a 37.58% increase in wash trading. Last week, it rose 46% to $14.9 million, almost double the amount previously recorded.
Falling to third place in terms of sales volume, bitcoin was one of the biggest losers of the week. Its 40% drop in sales was only better than Fantom's (ftm) and explosion (BURST), which recorded drops of 87% and 74%, respectively.
Wash trading on the platform is also up almost 200%, although the $63,072 that resulted from the activity is almost paltry compared to ethereum and Polygon.
Solana (SOL) maintained its position with the fourth highest sales volume of the week; However, the network that ranked 5th last week, Immutable (IMX), had to fall to 6th place after Mythos Chain (MYTH) surpassed it with almost $4.5 million in sales.
Notable performances came from the likes of Zora, BNB Chain and Panini. Zora's sales volume increased more than 50%, while Panini, which hosts nft sports trading cards, saw a 22% increase to earn $135,000.
Leading nft Collection
Among the nft collections, except for Mythos' DMarket, all the nft collections that topped the sales chart the previous week were nowhere to be seen. Instead, CryptoPunks returned, recording a massive 155% jump in sales volume to earn $5.26 million and become the best-selling nft collection of the week.
Next was the already mentioned DMarket, which, despite a 9.21% drop in sales, managed to earn more than 4 million dollars.
Bored Ape Yacht Club (BAYC), another popular nft collection built on ethereum, managed to take the number 3 spot after concluding 113 transactions that generated almost $3.5 million. The amount was impressive as it represented a growth of 73.66% compared to the previous week's sales.
Other collections that performed well over the past week were ethereum's Pudgy Penguins and Solana's DogeZuki Collection, which raised $3.69 million and $2.43 million, respectively.
Best-selling nfts of the week
In terms of individual pieces, the most expensive nft of the week came from ethereum. However, its price of $204,066 pales in comparison to the previous week's winner, which changed hands for $587,194.
In second place was a bitcoin Ordinal that sold for $113,465, just $2,548 more than Solana's Mad Lads #4575, which came in third place.
With two major international soccer tournaments taking place in Europe and America, fan token sales increased tremendously last week.
As can be seen in the table above, the Galatasaray fan token (GAL) recorded the highest sales volume, jumping an incredible 70,149% to $280.5 million when Turkey beat Georgia in their first match of Euro 2024.
The price of the token has also risen by 2,542% and is currently priced at $2.87 per unit. Sales of FC Barcelona, PSG and Juventus fan tokens also increased by between 22,903% and 8,670% as Spain, France and Italy successfully began their campaigns for Euro 2024.
