NFT Sales Drop 5.4% to $193M, Ethereum Dominates with $107M in Sales: Weekly Recap

Over the previous week, statistics present non-fungible token (NFT) gross sales totaled $193.08 million, down 5.44% from the earlier week. Ethereum dominated NFT gross sales with greater than $107 million or 55% of all gross sales, whereas Solana-centric NFT gross sales recorded $26.3 million or 13% of gross sales in the identical interval.

NFT Market Shows Signs of Slowdown With Declining Weekly Sales and Lower 30-Day Totals

Non-fungible token gross sales, or NFT gross sales, fell 5.44% this week in comparison with final week, with $193.08 million in gross sales recorded throughout 19 totally different blockchains. statistics point out that 30-day gross sales are usually down, with complete gross sales of $912.54 million, greater than 29% decrease than final month. The high 5 blockchains by way of NFT gross sales this week have been Ethereum ($107M), Solana ($26M), Polygon ($6M), Immutable X ($5.3M), and Cardano ($3.16M).

NFT Sales Drop 5.4% to $193M, Ethereum Dominates with $107M in Sales: Weekly Recap

Solana’s NFT gross sales elevated by 37.16% this week, whereas Cardano’s NFT gross sales jumped 44.27% larger than the earlier week. However, Ethereum, Polygon, and Immutable X NFT gross sales all noticed losses in comparison with final week’s gross sales. Notable gainers by way of blockchain NFT gross sales embrace Arbitrum’s 64.49% rise and Avalanche’s 293% enhance.

Palm blockchain gross sales elevated by 370%, and Algorand NFT gross sales rose 58% larger than the earlier week. While Ethereum dominates NFT gross sales with 55%, 18 different blockchains symbolize 45% of the remaining gross sales. The high 5 NFT collections this previous week, with essentially the most gross sales, have been Cryptopunks, Bored Ape Yacht Club (BAYC), MG Land, Otherdeed, and HV-MTL.

Following these collections, the fifth by tenth high gross sales have been Degods, Y00ts, Sorare, Mutant Ape Yacht Club (MAYC), and Gods Unchained Cards. Cryptopunks recorded $12.55 million in gross sales this week, up 49.15% larger than final week. BAYC gross sales have been roughly $10.14 million this week, up 43.52% larger, whereas MG Land captured $7.84 million, down 5.72% from the earlier week.

In phrases of the highest-valued NFT gross sales this week, Otherdeed #2,118 was the most costly, promoting for $375,979 three days in the past. Cryptopunks #6,036 bought for $365,508 two days in the past, and Bored Ape Yacht Club (BAYC) #5,647 bought for $263,537 six days in the past. Lastly, Cryptopunk #2,353 bought for $217,454 two days in the past, and Otherdeed #99,728 bought for $205,711 three days in the past. While there was near $1 billion in gross sales over the previous 30 days, the variety of NFT patrons elevated 17.36% to 1,904,731 this month.

What are your ideas on the present state of the NFT market? Do you suppose the current lower in gross sales is a short lived dip or an indication of a extra long-term development? Share your opinions within the feedback part beneath.

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