Nfts
NFT sales fall 16% to less than $122 million: what happened?
This week marked a significant slowdown for the non-fungible token (NFT), which saw its sales fall by almost 16% after an increase of 17% the previous week.
By CryptoSlamtotal sales reached $121.7 million, with over 519,000 active buyers and sellers.
Breakdown of Blockchain NFT sales
Blockchains by NFT sales volume | Source: CryptoSlam
Ethereum (ETH) led the charge with $39.28 million in sales, a notable increase of 14.48% from the previous week.
This surge was accompanied by a marked increase in the number of active buyers on Ethereum NFT space, the number of which increased by almost 48% to 23,586. The network also saw an increase in wash transactions, up 35.49% to over $34 million.
Bitcoin (BTC), which was the busiest network in terms of sales the previous week, fell to second place this week, with approximately $26.5 million in sales, a decrease of 45.60. Bitcoin recorded over 18,000 active buyers, representing a whopping 804% increase from last week. Wash trades on the network decreased by approximately 53%, standing at $20,030.
After a 22% increase in sales the previous week, this week saw Polygon (MATIC) reduced its weekly sales volume by almost 5.5% to $18.43 million. Solana (GROUND) remained fourth with $14.631 million in sales, a decline of 18.18%. For its part, ImmutableIMX) experienced a strong increase, with sales up 9.40%.
NFT Best Sellers
The highest sale of the week was on the Ethereum blockchain, with an NFT selling for $587,194. A Bitcoin Ordinal, Protoshroom #6, changed hands for $237,373, while a Polygon TTAvatars #128003 fetched $100,500.
Solana’s DeezNode #052 sold for $77,839, beating out a BNB NFT, Ape Treasury Bill V2 V3 #12668, which sold for $31,516.
Among the collections, the Guardian Avatar Guild of Immutable saw the highest sales volume over the past seven days, raking in over $8.1 million in 1,614 transactions.
Bitcoin’s PIZZA NFTs followed, generating $7.3 million, representing a drastic 60% reduction from its numbers from the previous week.
A newcomer among the top five collections ranked in terms of sales volume was the Ethereum Name Service (ENS), which took third place with over $5.3 million worth of NFTs sold. This figure represents an incredible jump of 1,022%, with money coming from just 295 buyers.
The DMarket collection on Mythos brought in $4.6 million from nearly 190,000 transactions, while the Bitcoin network’s Bitcoin Puppets took fifth place with around $2.7 million in sales.