NFT Sales Drop 16.7% to $105.7 Million, Ethereum Sales Surge 30%

The NFT market has seen a significant decrease in sales, with a 16.76% downturn bringing total sales to $105.7 million. Despite this decline, Ethereum sales have surged by 30%, reinforcing its strong position in the crypto landscape.

Key Takeaways

NFT sales dropped 16.76% to $105.7 million.
Ethereum sales increased by 30% to $36.5 million.
The overall buyer count for NFTs rose by 55.35% to over 699,000.
Polygon and Mythos Chain experienced declines, while new collections like STRAT Option made notable gains.

NFT sales plunge 16.7% to $105.7m, Ethereum sales surge 30%

Main Content

The NFT market has faced a significant downturn, with sales volume decreasing by 16.76% and landing at $105.7 million. This decline coincides with a drop in Bitcoin prices, which fell to $103,000 after reaching a new all-time high of $111,000. Ethereum also experienced a minor drop, trading around the $2,500 mark over the past week. The total global cryptocurrency market cap has decreased from $3.42 trillion to $3.25 trillion.

Recent data from CryptoSlam indicates that, despite the overall market decline, the number of NFT buyers increased by 55.35%, totaling 699,471. Additionally, the number of NFT sellers grew by 19.22% to 242,898, while NFT transactions surged by 34.31%, reaching 2,233,547.

Ethereum has strengthened its position in the market, with sales reaching $36.5 million, reflecting a 28.43% increase from the previous week. However, wash trading in Ethereum decreased by 23.31%, now standing at $1.6 million. Polygon remains in second place with $15 million in sales, despite a decline of 25.88%. The Mythos Chain holds the third position with $13.5 million, down 3.39%. Bitcoin is in fourth place with $13.2 million, suffering a drop of 27.10% from last week. Immutable has made its way into the top five with $7.3 million, which is a 15.93% decline, while Solana completes the top six with $7.2 million, marking an increase of 17.78%.

Buyer numbers have generally increased across various blockchains, with Polygon leading the growth at 43.72%, followed by Solana at 37.39% and Bitcoin at 33.34%.

Among the collections, Courtyard on Polygon retains the top rank with $12.4 million in sales, even with a 13.91% decline. This collection also saw a notable increase in sellers, rising by 1,196.53%. DMarket is in second place with $8.3 million, reflecting a decrease of 5.33%. Guild of Guardians Heroes is third with sales of $5 million, down 14.58%.

A significant newcomer, STRAT Option on Ethereum, has emerged in the fourth position with $4.7 million in sales. This collection demonstrated remarkable growth, with a staggering increase of 18,945,794.34% in sales, and a 2,300% rise in transactions along with a 1,900% increase in buyers.

Lastly, Bitcoin’s BRC-20 NFTs concluded the top five with $4.6 million, experiencing a decline of 24.06%. Metrics for this collection have fallen across the board, including transactions down by 17.56%, buyers down by 24.93%, and sellers down by 33.22%.

Stay tuned for last week’s NFT sales breakdown as we continue to monitor the shifting landscape of the NFT market.