NFT Sales Experience a Downturn, Ethereum and Bitcoin Dominate the Market
In the past week, the sales of non-fungible tokens (NFTs) have taken a dip, declining by 8.99% compared to the previous week. The total sales across all 21 blockchains amounted to approximately $137 million. Leading the pack was Ethereum with $43 million in sales, showcasing a significant increase of 20.26% from the previous week.
The decline in NFT sales was evident across various blockchains, with Ethereum and Bitcoin emerging as the leaders. Ethereum secured the top spot with $43 million in sales, while Bitcoin followed closely behind with $34.79 million. However, Bitcoin experienced a decrease of 26.67% from the prior week. Other notable blockchains that made their mark in the NFT market included Solana, Polygon, and Immutable X.
Taking a closer look at the top collections, Bitcoin's Uncategorized Ordinals claimed the first position, raking in $14,274,455. Although it experienced a decline of 18.34%, it still remained a significant player in the market. Blast's Fantasy Top secured the second spot with $6,391,855 in sales, indicating a substantial drop of 57.17%. Following closely behind were Dmarket, Guild of Guardians, and Nodemonkes. Notably, the Captainz collection witnessed a remarkable increase of 82.66% in sales from the previous week.
In terms of the highest-priced NFT sale, Solana's Boogle #084 took the crown, selling for an impressive $228,957. This was followed by an Ethereum Name Service name that fetched $206,959. Other noteworthy sales included an Ordinal Maxi Biz, a Matr1x Fire Asset, and a Blast Gate Keeper.
While the overall NFT market performance experienced a slight downturn, it is important to note that there were pockets of resilience and growth within specific blockchains and collections. As the landscape of NFT sales continues to fluctuate, the coming weeks are expected to provide valuable insights into the evolving narratives and value propositions within the NFT ecosystem.
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