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The non-fungible token market has recorded negative growth this week, likely after bitcoin NFTs lost initial market enthusiasm. bitcoin NFTs surged in November last year, pushing the global nft market past $1 billion in trading sales volume. In this article, we'll assess what's next now that the bitcoin nft craze seems to have faded.
NFTs fall 3% in the last 7 days
Data collected by cryptoslam.io, an on-chain data aggregator, shows that nft trading sales volume has dropped slightly this week. Over the past seven days, the global nft market has accumulated a trading sales volume of $302 million, representing an increase of 3.38% from the previous week.
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However, the number of investors purchasing NFTs has increased by 95% this week. In the last seven days, the nft marketplace has recorded $459,559 worth of nft buyers. On the other hand, the number of investors selling their NFTs has increased by 86% to reach $331,764.
Non-fungible tokens hosted on ethereum, the leading blockchain network, are this week's most traded NFTs. Over the past seven days, ethereum-based NFTs have accumulated a trading volume of $104 million, which is a 34% increase from last week.
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Digital collectibles hosted on bitcoin, the same blockchain network that powers the flagship cryptocurrency bitcoin (btc), are the second most traded NFTs this week. In the last seven days, bitcoin-based NFTs have recorded a trading volume of $77 million. bitcoin nft sales have plummeted 34% compared to last week.
Non-fungible tokens hosted on the Solana and Polygon blockchain networks are the third and fourth most traded nft collections this week. In the last seven days, Solana-based NFTs have recorded a trading volume of $52 million, while Polygon-based NFTs have accumulated a sales volume of $30 million. Solana-based nft sales volume increased by 20%, while Polygon nft sales fell by 32%.
Best-selling NFTs this week
1. 'Uncategorized' nft of bitcoin Ordinals
bitcoin Ordinals, the collection of non-fungible tokens created on the bitcoin blockchain network using the Satoshi Ordinal protocol, is this week's best-selling nft collection. Over the past seven days, bitcoin ordinals have accumulated a trading volume of $14 million. bitcoin ordinal sales have plummeted 48% since last week.
2. Gas Hero Common nft Collection
Gas Hero Common, a collection of non-fungible tokens hosted on Polygon, an ethereum scaling network, is the second best-selling nft collection this week. In the last seven days, the Gas Hero Common nft collection has recorded a trading volume of $12 million. However, Gas Hero Common has plummeted 29% this week compared to last week.
3. $LIGO BRC-20 nft Collection
$LIGO, an nft collection created on the bitcoin blockchain network using the BRC-20 protocol, is the third best-selling nft collection this week. In the last seven days, the $LIGO BRC-20 nft collection has recorded a trading volume of $10.9 million. $LIGO nft sales are up +10,000 this week from last week.
4. CryptoUndeads nft Collection
CryptoUndeads, an nft collection hosted on the Solana blockchain network, is the fourth best-selling nft collection this week. In the last seven days, CryptoUndeads has recorded a trading sales volume of $10.6 million. The nft collection entered the nft market earlier this week.
5. Dokyo nft Collection
Dokyo, an nft collection on the Avalanche blockchain with a limited edition of 5,555 NFTs, is the fifth best-selling nft collection this week. In the last seven days, the Dokyo nft collection has recorded a trading volume of $10.4 million. Dokyo nft sales increased by 43% this week compared to the previous week.
6. Pudgy Penguins nft Collections
Pudgy Penguins, an nft collection with a limited edition of 8,888 cute penguins hosted on the ethereum network, is the sixth best-selling nft collection this week. In the last seven days, the nft collection has accumulated a commercial sales volume of $9.3 million. Pudgy Penguins nft sales are up 447% from last week.
7. Open Solmap nft Collection
Open Solmap, an nft collection on the Solana blockchain network, is the seventh best-selling nft collection this week. In the last seven days, the Open Solmap nft collection has recorded a trading volume of $8.2 million. Open Solmap nft sales increased by 462% compared to last week.
8. TinFin nft Collection
TinFin, an nft collection on the ethereum blockchain network, is the eighth best-selling nft collection this week. Over the past seven days, the TinFin nft collection has accumulated a trading volume of $7.2 million. The TinFin nft collection rose to fame earlier this week.
9. Bored Ape Yacht Club nft Collection
Bored Ape Yacht Club, an nft collection from digital asset company Yuga Labs that features a fixed supply of 10,000 NFTs hosted on the ethereum blockchain network, is this week's ninth best-selling nft collection. In the past seven days, Bored Ape Yacht Club's nft collection has raised $5.8 million in trade sales volume. Bored Ape nft sales volume increased by 10.95% from last week.
10. CryptoPunks nft Collection
CryptoPunks, an nft collection formerly from digital asset firm Larva Labs that features a limited edition of 10,000 NFTs hosted on the ethereum blockchain network, is this week's 10th best-selling nft collection, closing out our list of the top ten NFTs. sold. In the last seven days, CryptoPunks has recorded a trading sales volume of $5.7 million. CryptoPunks nft sales volume increased by 28% from last week.
The most expensive nft collection sold this week
LIF3 V3 Position #9 was the most expensive nft collection sold this week, selling for $698,247 three days ago. LIF3 V3 Position #15 was the second most expensive nft collection sold this week, selling for $245,549 three days ago. Boogle #047 was the third most expensive nft sold this week, selling for $219,998 two days ago.
nft Market Prediction: What's Next?
The non-fungible token market is recovering, with ethereum-based nft collections leading the near-term market rally. According to predictions from industry experts, the growth of the nft and crypto markets is expected to skyrocket in the coming weeks or months, likely after the long-awaited bitcoin (btc) halving.
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