NFT Sales Decline for Second Consecutive Week
This week, NFT sales experienced a slight dip, but don’t worry, there’s still some good news to be found. Let’s break it down:
- NFT sales totaled $148.55 million, a 4.33% decrease from the previous week.
- Ethereum-based NFT sales accounted for $88.54 million, representing 59.6% of this week’s sales.
- Bitcoin-based NFTs generated $25.92 million in sales, making up around 17.44% of the total.
- Solana-based NFT sales declined by 17.46%, amassing $8.2 million.
- Polygon’s NFT sales dipped by 16.44%, reaching $5.9 million.
Now, let’s take a look at the top-performing collections:
- The Fram NFT collection and Uncategorized Ordinals dominated the seven-day sales, both tied to Bitcoin.
- Bored Ape Yacht Club (BAYC) slipped to the third spot, following the top two Bitcoin collections.
- Captainz and Cryptopunks collections secured the subsequent positions.
Finally, in terms of the highest-priced NFT transactions:
- An offering from the Bitcoin Burials collection fetched a staggering $1.68 million.
- BAYC #1,734 was sold for $1.2 million.
- Cryptopunk #8,531 commanded slightly over $1 million.
- The remaining two positions in the top transactions were also from the Bitcoin blockchain, each exceeding $400K.
Hot Take:
Despite the slight decline in NFT sales this week, it’s important to remember that the market is still thriving. Bitcoin-based NFTs continue to hold a strong position, and Ethereum collections remain popular. As the industry evolves, we can expect exciting developments and opportunities for both artists and collectors.
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