Non-fungible token (NFT) analytics show that NFT sales experienced a decline in early February, with a recorded total of $119.49 million during the first week of the month. This reflects a contraction of 33.73% compared to the preceding seven-day period.
Data from cryptoslam.io reveals a significant decrease in the digital collectibles market. Weekly sales dropped to $119.49 million, accompanied by a 95.33% decrease in buyers and a 94.06% decline in sellers. However, NFT transaction volume remained relatively stable, with 1.44 million NFT transfers recorded, representing a slight 1.35% decrease from the final week of January.
Among Ethereum-based NFTs, there was a sharp downturn of 38.41%, resulting in sales of $62.71 million. The most expensive Ethereum asset traded was f(x) wstETH position #373, which sold for $803,297 on February 7. However, Polkadot’s Mythos defied the trend and secured the second-highest blockchain sales of the week, totaling $13.97 million. Solana, on the other hand, experienced a 32.56% decline from the previous week, with finalized sales amounting to $11.09 million, placing it in third position.
Notably, a Solana-minted Portals #14 sold for $172,956 five days prior. Polygon ranked fourth with $8.13 million in digital collectible sales, marking a 10.98% increase. Bitcoin captured the fifth position with sales of $6.78 million, representing a significant 71.31% decrease compared to the closing week of January. The leading collection of the week was Ethereum’s Pudgy Penguins.
Despite generating $9.20 million over the past seven days, Pudgy Penguins saw a decline of 37.55%. Mythos’ Dmarket achieved sales of $8.80 million, reflecting a modest increase of 7.98%. Mythos’ total weekly sales of $13.97 million represented a 4.66% rise.
Polygon’s Courtyard collection experienced a growth of 25.78%, reaching $7.35 million in sales, while Ethereum’s Cryptopunks declined by 30.01% to $5.26 million. Another Ethereum NFT offering, Azuki, rounded out the top five with sales of $5.08 million, a significant decline of 79.17% from the previous week’s performance.
