The nft market fell by 12% this week. Trading volume decreased to $90 million. The bitcoin market has been shrinking overall. Other crypto assets, such as bitcoin, experienced a decline in value. Data from CryptoSlam.io has demonstrated the decline in the nft market. The market recorded a trading volume of $90 million over the seven days prior to the drop. This drop highlights the current challenges facing the nft industry.
Source: CryptoSlam.io
ethereum leads nft trading
ethereum remains the top blockchain for nfts. It powered collections that generated $34 million in sales over the past week. This represents a 9.92% increase from the previous week.
Source: CryptoSlam.io
The nft blockchain with the second-largest transaction volume is called Solana. However, its transaction volume of $17 million decreased by 30%. Thuslana makes decentralized applications and smart contracts possible.
bitcoin also supports nft collections such as ordinals, runes, and BRC-20. The transaction volume for bitcoin nft collections was $14 million. This represents a 17% decrease from the previous week.
In fourth place in nft trading is Polygon. Its trading volume was $8.7 million this week. This marks a 9.80% drop from the previous week.
Immutable x and BNB Chain rank sixth and fifth respectively in terms of nft transactions. Immutable x-based nfts were traded for $4.9 million, while BNB Chain-based nfts were used to earn $3.7 million.
The best-selling nft collections
Sister
Sorare is the best-selling nft collection of the week. It features digital trading cards of football players from around the world. Sorare’s nft collection reached a transaction volume of $3.8 million. This is a 42% increase compared to the previous week.
Source: CryptoSlam.io
DogeZuki
DogeZuki is the second best-selling nft collection on the Solana blockchain, offering 2,800 digital products with Shiba Inu-inspired designs. The collection recorded a transaction volume of $6.5 million, up 3.5% from the previous week.
Guardians Guild
Guild of Guardians is a popular nft RPG. Its nft collection is the third best-selling this week. The transaction volume reached $3.2 million, an increase of 5.52% compared to the previous week. Players can collect redeemable resources in the game.
Bored Ape Yacht Club
The popular nft collection is called Bored Ape Yacht Club. There are 10,000 nfts available on the ethereum blockchain. This week, the collection generated approximately $3.2 million in transaction volume. This represents a 135% increase from the previous week.
Cryptopunks
CryptoPunks is another popular nft collection run by Yuga Labs. It also has 10,000 nfts on the ethereum blockchain. Transactions on CryptoPunks totaled $3.2 million this week.
