NFT Sales Fell 18% Last Week – Here’s What You Should Expect In The NFT Market This Week
The non-fungible token market has recorded another week of negative gain, with non-fungible tokens hosted on Bitcoin and Solana leading on the flip side. The NFT market crash has happened for a variety of reasons, including increased wash trading and the broader market shift to other digital assets like memecoins.
NFT Sales Fell By 18% Last Week
Data compiled by CryptoSlam.io, an on-chain multi-chain non-fungible token explorer, shows that the global non-fungible token market has recorded another negative gain this past week. In the past seven days, the global NFT market has recorded a trading sales volume of $195 million, representing an 18% decline from the previous week.
Nonetheless, the number of traders and collectors buying the NFT dip has increased this past week. In the past seven days, the global NFT market has seen nearly 1 million collectors buying NFTs, representing 37% increase from the previous week. During this period, the number of collectors who sold their NFTs also increased by 30%.
Ethereum, the blockchain network renowned for powering the majority of non-fungible tokens, was the top-traded blockchain network in the NFT ecosystem this past week. In the past seven days, Ethereum-based NFT collections have amassed a sales volume of $69 million, representing a 39% spike from the previous week.
Bitcoin, the blockchain network powering the flagship crypto Bitcoin, was the second most-traded blockchain network in the NFT ecosystem this past week. In the past seven days, the Bitcoin-based NFT collection has recorded a sales volume of $58 million. The Bitcoin-based NFT sales have dropped 50% from the previous week.
Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, was the third most-traded blockchain network in the NFT ecosystem last week. In the past seven days, the Solana-based NFT collections have amassed a trading sale volume of $32 million, a decrease of 2.89% from the previous week.
Polygon, an Ethereum scaling blockchain network, was the past week’s fourth traded blockchain network in the NFT ecosystem. In the past seven days, Polygon-based NFT collections have raised a trading sales volume of $17 million. Polygon NFT sales volume rose 14.96% from the previous week.
Top Selling NFT Collections This Past Week
Source: top selling NFTs in the past 7 days
1. Bitcoin Ordinals NFT Collections
Bitcoin ordinals, a non-fungible token collection created on the Bitcoin blockchain network using the ordinal protocol, was the past week’s most-selling NFT collection. In the past seven days, the Bitcoin Ordinals, which Features various ordinal collections, including runestones, has recorded a trading sales volume of $32 million, down 20% from the previous week.
2. CryptoPunk NFT Collection
CryptoPunk, a non-fungible token collection previously from the digital asset firm Larva Labs featuring a limited set of 10,000 NFT collections hosted on the Ethereum blockchain network, was the past week’s second most-selling NFT collection. In the past seven days, the Cryptopunk NFT collection has recorded a trading sales volume of $14 million. The Cryptopunk NFT sales have surged 326% from the previous week.
3. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, an NFT collection from the digital asset firm Yuga Labs that Features a fixed supply of 10,000 NFTs hosted on the Ethereum blockchain network, was past week’s third most-selling NFT collection. In the past seven days, the Bored Ape Yacht Club NFT collection has raised a trading sales volume of $7.9 million. The Bored Ape NFT sales volume has surged 79.80% from the previous week.
4. DMarket NFT Collection
DMarket, a non-fungible token collection hosted on the Mythos Chain blockchain network, was last week’s fourth most-selling NFT collection. In the past seven days, the DMarket NFT series has recorded a trading sales volume of $5.9 million. The DMarket NFT sales volume has fallen 6.46% from the previous week.
5. NodeMonkes NFT Collection
NodeMonkes, a non-fungible token collection featuring a limited edition of 10,000 NFTs created on the Bitcoin blockchain network, was past week’s fifth most-selling NFT collection. In the past seven days, NodeMonkes NFT collection has raised a trading sales volume of $4.8 million. The NodeMonkes NFT sales have fallen 21% from the previous week.
Source: cryptoslam.io, top selling NFTs in the past 7 days
6. $WZRD BRC-20 NFT Collection
The $WZRD, a non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, was past week’s sixth most-selling NFT collection. In the past seven days, the $WZRD NFT collection has recorded a trading sales volume of $4.7 million. The $WZRD NFT sales volume has fallen 76% from the previous week.
7. Mutant Ape Yacht Club NFT Collection
Mutant Ape Yacht Club, another non-fungible token collection from the digital asset firm Yuga Labs featuring a limited edition of 20,000 NFT collections, was past week’s seventh most-selling NFT collection. In the past seven days, the Mutant Ape Yacht Club has attracted a trading sales volume of $4.3 million. The Mutant Ape Yacht Club NFT sales surged 15% last week from the previous week.
8. Mad Lads NFT Collection
Mad Lads, an NFT collection from the Solana framework development project Coral featuring a limited set of 10,000 NFTs hosted on the Solana blockchain network, was past week’s eighth most-selling NFT collection. In the past seven days, the Mad Lads NFT collection has amassed a trading sales volume of $3.9 million. The Mad Lads NFT sales have fallen 6.7% this past week from the previous week.
9. Dokyo NFT Collection
Dokyo, an NFT collection on Avalanche blockchain with a limited supply of 5,555 NFTs, was past week’s ninth most-selling NFT collection. In the past seven days, the Dokyo NFT collection has recorded a trading sales volume of $3.5 million. Dokyo NFT sales have fallen 43% this week compared to the previous week.
10. Gods Unchained NFT Collection
Gods Unchained, an NFT collection from the digital trading card game Gods Unchained hosted on the Immutable X blockchain network, was past week’s tenth most-selling NFT collection. In the past seven days, the Gods Unchained NFT collection has recorded a trading sales volume of $3.1 million, closing our ten top-selling NFT collections this past week.
Top NFT Sales Volume Last Week
The Crypto Punks #635 was the most expensive NFT collection sold last week, selling for over $12 million four days ago. The $PUPS BRC-20 NFT collection was the second most-traded NFT collection sold last week, selling for $259,192 five years ago. The LockDeal NFT #57419 was the third most expensive NFT collection sold last week, selling for $176,056 five days ago.
Source: cryptoslam.io, most expensive NFTs sold in the past seven days
NFT Market Prediction This Week
Earlier last month, many crypto traders and collectors neglected the non-fungible token market and made a drastic shift to the memecoins and crypto market, which was overly hyped following the highly anticipated Bitcoin halving event. Since the crypto market operates in seasons, the global NFT market will likely boom again this year in sales once the current memecoins season fades out.
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