NFT Sales Experience 7.03% Decrease in a 7-Day Period
Once again, NFT sales have seen a decline in the past week, dropping by 7.03% compared to the previous week. The total sales recorded during this period amounted to $122.3 million, with Ethereum-based NFTs leading the way.
The 7-day period from May 25 to June 1, 2024, witnessed a decrease in NFT sales, with Ethereum maintaining its position as the top blockchain and Bitcoin following closely behind in second place. Sales dropped by 7.03% compared to the previous week, reaching a total of $122.3 million. The highest-priced NFT sold during this week came from the Azuki collection on the Ethereum blockchain. Azuki #3,374 was sold for $393,112 five days ago, claiming the top spot.
The second-highest sale came from the Bitcoin blockchain, with an Ordinal inscription purchased for $305,258 two days ago. The third most expensive NFT sold was a Solana Boogle #061, which fetched $206,936 five days prior. In terms of overall 7-day sales, Ethereum led the way with $37.06 million. However, ETH-based NFT sales saw a decrease of 11.66% compared to the previous week.
Bitcoin NFT sales amounted to $28.54 million, marking a 10.83% decrease from the previous week. Meanwhile, Solana-based NFTs recorded just over $19 million in sales, showing a modest reduction of 1.72%. Among the top five chains in terms of NFT sales, Polygon emerged as the top performer with a 29.04% increase over the previous week, totaling around $15.54 million. Immutable X secured the fifth position with sales of $8.54 million, reflecting a 14.69% increase.
Among the top five NFT collections of the week, Uncategorized Ordinals took first place with $8,619,161 in sales, although this marked a 16.25% decrease from the previous week. Guild of Guardians from Immutable X had the second-highest sales volume at $5.73 million, showing a significant increase of 23.27%. They were followed by Nodemonkes, Bored Ape Yacht Club (BAYC), and Dmarket.
The sales of digital collectibles have been declining week after week, indicating a lack of recovery. While other sectors in the crypto industry are experiencing substantial growth, NFT sales have been lackluster, with prices of blue-chip NFTs dropping by 80-90% from their peak values. It remains to be seen whether the NFT trend will rebound, but the consistent decline in weekly sales over the past few months suggests that growth has significantly slowed down compared to previous years.
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