Sales of NFTs decline by 16
The non-fungible token (NFT) market experienced a significant decline this week, with sales dropping by approximately 16% following a 17% surge in the previous week, according to CryptoSlam. Total sales reached $121.7 million, with more than 519,000 active buyers and sellers participating in trades.
In terms of NFT sales volume on blockchain networks, Ethereum (ETH) led the way with $39.28 million in sales, marking a notable 14.48% increase from the previous week. Ethereum’s NFT space also saw a substantial increase in active buyers, rising by nearly 48% to reach 23,586. Additionally, wash trading on the network increased by 35.49% to over $34 million.
Bitcoin (BTC), which had the highest sales volume in the previous week, dropped to second place this week with approximately $26.5 million in sales, representing a 45.60% decrease. However, Bitcoin witnessed a significant increase in active buyers, soaring by 804% compared to the previous week with over 18,000 buyers. Wash trading on the Bitcoin network decreased by about 53%, totaling $20,030.
Polygon (MATIC), after experiencing a 22% boost in sales the previous week, saw a decrease of nearly 5.5% in its weekly sales volume, settling at $18.43 million. Solana (SOL) remained in fourth place with $14.631 million in sales, marking an 18.18% decrease. On the other hand, Immutable X (IMX) witnessed a surge in sales, with a 9.40% increase.
In terms of top NFT sales, the highest transaction occurred on the Ethereum blockchain, with an NFT selling for $587,194. A Bitcoin Ordinal, Protoshroom #6, was sold for $237,373, while a Polygon TTAvatars #128003 fetched $100,500. Solana’s DeezNode #052 sold for $77,839, surpassing the sale of a BNB NFT, Ape Treasury Bill V2 V3 #12668, which sold for $31,516.
Among NFT collections, Immutable’s Guild of Guardians Avatars had the highest sales volume in the last seven days, generating more than $8.1 million in 1,614 transactions. Bitcoin’s PIZZA NFTs followed with $7.3 million in sales, experiencing a drastic 60% reduction compared to the previous week. Ethereum Name Service (ENS) entered the top five collections by sales volume, securing third place with over $5.3 million worth of NFTs sold, representing an incredible 1022% increase from just 295 buyers. The DMarket collection on Mythos earned $4.6 million from nearly 190,000 transactions, while Bitcoin Puppets from the Bitcoin network earned the fifth spot with approximately $2.7 million in sales.
In related news, Ethereum founder Vitalik Buterin expressed support for TiTok as a potential blockchain application.
