NFT Transactions Dip Over 30% Amid 14% Sales Decrease
During the week of Sunday, August 20, to Sunday, August 27, 2023, there was a decline in non-fungible token (NFT) sales, with a 14.06% decrease from the previous week. Here are the key points:
- Ethereum sales contributed the most, with $56.35 million exchanged, despite a 13.87% decrease.
- Solana secured the second spot with $8,592,656 in sales, but experienced an 8.95% drop compared to the previous week.
- The sales leaderboard included Ethereum, Solana, Polygon, Mythos, Immutable X, BNB, and Bitcoin.
- Bitcoin remained in seventh place for three consecutive weeks, with $2,130,582 in NFT sales, a 22.05% decrease from the previous week.
- Cardano and Arbitrum were the only blockchains to experience percentage growth.
Turning to the most prominent collections, the Bored Ape Yacht Club (BAYC) emerged as the leader, securing $10.18 million in sales. Here are some additional highlights:
- BAYC NFT sales surged 99% higher than the previous week, despite the collection’s recent decrease in floor value.
- Other notable collections included Dmarket, Sorare, Draftkings, Cross the Ages, and Mutant Ape Yacht Club.
- Cross the Ages experienced an astonishing 1,025.50% surge in sales compared to the previous week.
The top notable NFT sales this week included BAYC #7485, which sold for $175,923, and an NFT named “Crown” that sold for $168,187. Here’s a closing thought:
Hot Take
Despite the overall decrease in NFT sales, the Bored Ape Yacht Club continues to defy expectations and lead the way in the NFT market. It will be interesting to see if this trend persists in the coming weeks.
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