The non-fungible token (nft) market experienced another slow week, with total sales falling 7.5% in seven days, reaching $121.4 million on June 1.
Top blockchains by sales volume
For the past seven days, ethereum (eth) has remained in first place as the leading blockchain for nft transactions after overtaking bitcoin (btc) last week.
According data Since CryptoSlam, the blockchain maintained its dominance with total sales of $37.43 million, despite a decrease of 11.24% from the previous week.
bitcoin, the second most active blockchain for non-fungible token sales, raised $27.21 million, reflecting a drop of 12.88%.
Solana-based nfts generated just over $19 million, which is a slight drop of 0.52%.
Interestingly, Polygon (MATIC) stood out with a 27.10% increase in sales from the previous week, totaling approximately $15.6 million. Immutable x (IMX) also showed positive movement, with sales increasing by 12.23% to $8.49 million.
Monthly sales volume
For 30 days, the top five ranking in sales volume was virtually the same as weekly, with only Blast replacing Immutable at No. 5. ethereum recorded $163.7 million in sales throughout May, a figure 55% lower than April blockchain figures.
bitcoin suffered a 73.44% drop in terms of monthly sales volume, generating $158.5 million. This was despite having the best sales figures for at least two weeks in May.
Solana (SOL) earned just over $94 million in 30 days, marking a 45.8% drop from its April levels. And despite being in the green for the past two weeks, Polygon's May nft sales volume was down 34.60%.
Blast, however, broke the negative trend and showed a notable 519.17% increase in sales volume over the past 30 days. The layer 2 chain ended the month with over $49 million worth of nfts traded in the period.
Interestingly, Blast also had the biggest increase in terms of monthly wash trade figures, with over $1.2 million recorded, representing a whopping 931.23% increase since April.
Most expensive nfts
In terms of individual pieces, Azuki #3374 on the ethereum blockchain sold for a substantial $393,112, the highest-priced crypto token of the week.
A notable sale followed on the bitcoin blockchain, where an Ordinal inscription sold for $305,258. Solana also appeared with Boogle #061, selling for $206,936.
For the entire month, CryptoPunks #741 was the most expensive nft, reaching $792,046 on May 13. Another bitcoin Ordinal entry came in second after changing hands for $681,497.
CryptoPunks #3619, sold by malcode-vault.eth for 215 eth, which translates to $627,990, was the third most expensive nft in May. Azuki followed for $3374 and another CryptoPunk, #4926, which earned its owner $329,252.
nft Collection Classifications
Among the week's top nft collections, Uncategorized Ordinals took the lead with $7,810,518 in sales, despite a 15.31% decrease from the previous week. Guild of Guardians on Immutable x secured second place, with sales increasing 18.48% to $5.65 million.
Other notable collections included DMarket in third place, Nodemonkes in fourth, and Bored Ape Yacht Club (BAYC) finishing the top 5.
Throughout the month, bitcoin's uncategorized Ordinals collection maintained its number one spot, with over $48.6 million in sales. However, the figure represented a worrying drop of 70.13% in terms of monthly sales volume.
The second most traded nft collection in May was Blast's Fantasy Top, whose sales volume skyrocketed 674.89% to reach more than $46 million during the period.
Another nft collection whose monthly sales volume saw an increase was Guild of Guardians, which rose almost 67% to rank fifth.
