Can NFTs Rally in September? Recent 3-Week Sales Trend Casts Doubt
Cryptoslam.io reports that NFT sales have declined by 10.71% in the past week, with a 17.15% drop in transaction volume compared to the previous week. However, the number of NFT purchasers has increased by 20.35%. Ethereum-based NFTs dominate the market, but their sales have decreased by 18.75% this week. Other top blockchains for NFT sales include Mythos, Solana, Polygon, and Immutable X.
- Ethereum-based NFTs have the highest sales, but they have declined by 18.75% this week.
- Solana experienced the largest drop in sales, with a decrease of 24.19%.
- Mythos saw a surge of 12.85% in sales.
- Polygon’s sales dipped by 12.14% in the past seven days.
- Immutable X had the highest increase in sales among the top five, with a 36.46% increase.
In terms of specific NFT collections, Dmarket’s Mythos collection had the highest sales of $6,485,157. Bored Ape Yacht Club (BAYC) NFTs secured second place with $5,451,001 in sales, despite a 47.59% dip from the previous week. Sorare and Mutant Ape Yacht Club (MAYC) also had significant sales.
The top individual NFT sales include Mega Zombie for $809K, BAYC #7485 for $172K, and an NFT property titled “332 Montclaire Ln, West Columbia, SC 29170” for $204K.
While September usually sees a resurgence in the broader crypto market, it remains uncertain if NFTs can bounce back from the recent slump in sales.
Hot Take
NFT sales have experienced a decline in the past week, raising doubts about their performance in September. Ethereum-based NFTs continue to dominate the market, but other blockchains like Solana, Polygon, and Immutable X are also making a significant impact. Specific NFT collections, such as Dmarket’s Mythos and Bored Ape Yacht Club, have seen high sales. However, the overall trend suggests a need for NFTs to rally and regain momentum in the coming weeks.
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