The NFT market has experienced a decline in sales for the third consecutive week, with a decrease of 14.97% compared to the previous week. Despite this downturn, the market has seen an increase in participants. From March 23 to March 30, Bitcoin NFT transactions reached $82.61 million, although this represents a 3.8% drop from the previous week.
During the past week, the total sales volume in the NFT market amounted to $233,071,420, which is a decrease of just under 15% compared to the previous week. However, this decline has not discouraged new participants, as the number of buyers has increased by 25.61% and sellers by 21.75%. In total, there were approximately 1,916,438 transactions, with Bitcoin leading in terms of total sales value.
Bitcoin contributed $82.61 million to NFT sales, experiencing a slight decrease of 3.8%. Ethereum followed closely behind with sales just above $73 million, reflecting a 26.39% decrease from the previous week. Solana registered sales of $46.61 million, while Polygon and Mythos Chain had sales of $7.3 million and $7.16 million, respectively. It is worth noting that while most top blockchains experienced declines, Mythos Chain saw a slight increase in sales of 0.92%.
The standout NFT collection of the week was Uncategorized Ordinals, which generated $20.4 million in sales despite a 43% drop. The BRC-20 NFT collection followed closely behind with impressive sales of $13.24 million, representing an increase of 759.91%. Other notable collections included Mad Lads and Bored Ape Yacht Club (BAYC). The highest-priced NFT sale was Ethereum’s Arcade.xyz Vault Key, which sold for $346,089 just five days ago.
These fluctuating market conditions, along with the increase in participant numbers and the resilience of certain blockchains, highlight a complex and evolving market landscape. While Ethereum, Solana, and others are adapting to these shifts, the diverse performance of different collections suggests that the market is continuously adapting and evolving.
What are your thoughts on this week’s NFT sales data? Let us know in the comments section below.
