NFT Sales Experience 7.03% Decrease in a Week
Once again, NFT sales have seen a decline over the past seven days, dropping by 7.03% compared to the previous week. The total sales recorded during this period amounted to $122.3 million, with NFTs based on the Ethereum blockchain leading the way.
The highest-priced NFT sold this week was from the Azuki collection on the Ethereum blockchain. Azuki #3,374 fetched an impressive $393,112, claiming the top spot. In second place was an Ordinal inscription from the Bitcoin blockchain, which was purchased for $305,258. The third priciest NFT sold was a Solana Boogle #061, which sold for $206,936.
In terms of overall seven-day sales, Ethereum emerged as the top blockchain, generating $37.06 million. However, sales of ETH-based NFTs were down 11.66% compared to the previous week. Bitcoin NFT sales amounted to $28.54 million, a 10.83% decrease, while Solana-based NFTs recorded just over $19 million, marking a modest 1.72% reduction. Among the top five chains by NFT sales, Polygon showed the most growth, with a 29.04% increase over the previous week, totaling around $15.54 million. Immutable X secured the fifth position, with sales up 14.69% to $8.54 million.
In terms of collections, Uncategorized Ordinals took first place with $8,619,161 in sales, although this was a 16.25% decrease from the previous week. Guild of Guardians from Immutable X had the second-highest sales volume at $5.73 million, up 23.27%. They were followed by Nodemonkes, Bored Ape Yacht Club (BAYC), and Dmarket.
Unfortunately, the trend of declining NFT sales shows no signs of recovery. While other cryptocurrency sectors are experiencing significant growth, NFT sales have been lackluster. Prices of blue-chip NFTs have dropped by 80-90% from their peaks. It remains to be seen whether the NFT trend will rebound, but for now, the consistent weekly decline in sales suggests that growth has significantly slowed compared to previous years.
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