Ethereum leads as Polygon surges NFT sales decline by 12
The NFT market is seeing a decline, with sales dropping by 12% last week. The previous week saw a 16% drop in sales. According to CryptoSlam, total sales for the last seven days were just under $100 million and involved over 785,000 buyers and sellers in 1.4 million transactions. Ethereum led the pack in NFT sales, with $38.4 million worth of transactions. Wash trading on the platform surged, with earnings from the activity increasing by 9.5% to $37.69 million.
Polygon was one of the biggest winners last week, with sales jumping 11.2% to push it past the Bitcoin network into second place. Wash trading on the platform also rose, increasing by 46% to $14.9 million. Bitcoin dropped to third place in terms of sales volume, with a 40% drop in sales. Solana maintained its position with the fourth-highest sales volume of the week.
In terms of NFT collections, CryptoPunks made a comeback, registering a 155% jump in sales volume to become the top-selling NFT collection of the week. DMarket and Bored Ape Yacht Club also performed well over the last week.
The most expensive NFT of the week came from Ethereum, with a price tag of $204,066. Fan token sales surged greatly last week, with the Galatasaray fan token recording the highest sales volume, jumping an incredible 70,149% to $280.5 million.
As two major international soccer tournaments took place in Europe and the Americas, fan token sales saw a significant increase. The token price of Galatasaray is also up 2,542% and is currently priced at $2.87 per unit. Sales of FC Barcelona, PSG, and Juventus fan tokens also went up between 22,903% and 8,670%.
