NFT Sales Experience 6.75% Decline for Fourth Consecutive Week

NFT Sales Experience 6.75% Decline for Fourth Consecutive Week

NFT Sales Experience a 6.75% Decline in a Week

The most recent data from outlines a 6.75% fall in NFT sales in the previous week. In addition, NFT transactions saw a decline of 4.33% during the same period. Regardless of the decrease in sales, the number of NFT buyers increased by 17.77% to reach 569,407.

Ethereum (ETH) Leads the Pack in NFT Sales

Out of the 22 blockchain networks, Ethereum (ETH) remains the frontrunner, accounting for 52.80% of the market share and $42.61 Million in NFT sales. Following Ethereum (ETH) are Mythos, Polygon, Solana (SOL) and Immutable X, making up the top five blockchains for NFT sales.

Different Performances Between Blockchains

Although while ETH-based NFT sales experienced a 12.11% decrease, Mythos sales soared by 25.27% compared to the previous week. Polygon saw a 7.21% increase, while Solana (SOL) witnessed a 5.58% decline. Immutable X faced the largest fall with a 17.52% decrease. Between the blockchain networks, Cronos stood out with a whole lot of 24.22% increase in sales, and Mythos’ Dmarket resurfaced as the leading network with $8.15 Million in sales in the past week.

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Top NFT Collections and Valuable Digital Collectibles

The Bored Ape Yacht Club (BAYC) ranked Second in the top collections with $5 Million in sales. Other notable collections include Draftkings, Gods Unchained, and the Mutant Ape Yacht Club (MAYC). The most valuable NFTs sold this coming week were Fidenza #562 for $122,000, Cryptopunk #3028 for $111,000, and Cryptopunk #3438 for $105,000. The Cryptopunk collection dominated the top 10 sales charts.

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Hot Take

Despite the fact that NFT sales saw a decline, the increasing number of buyers indicates sustained interest in this digital asset market. The performance of different blockchains outlines the diverse opportunities available for NFT creators and collectors. In the meantime, the high prices fetched by valuable digital collectibles demonstrate the continued demand for unique and rare NFTs in the market.

Author – Contributor at | Website

Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.

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