NFT Sales Fall to $72.5 Million, Bored Ape Yacht Club Sees 37% Recovery

NFT sales have recently experienced a significant decline, dropping by 4.97% to a total of $72.53 million, compared to the previous week’s $79.31 million. Despite this downturn, market activity has increased, with a 77.11% rise in NFT buyers, reaching 293,459, and a 106.26% surge in sellers to 284,166. However, total NFT transactions have decreased by 12.67%, totaling 940,416.

Key Takeaways:

NFT sales dropped to $72.5 million, a 4.97% decrease from the previous week.
Active participation in the NFT market increased, with buyers up 77.11% and sellers up 106.26%.
The overall cryptocurrency market cap fell to $2.87 trillion amidst declining prices.
Bored Ape Yacht Club saw a 37.35% sales increase, making a strong recovery.
Ethereum remains the top blockchain by sales, followed by BNB Chain and Bitcoin.

NFT sales drop, Bored Ape Yacht Club recovers

This decline in the NFT market aligns with a broader drop in cryptocurrency prices, as Bitcoin has fallen to around $84,000 while Ethereum has lost its $2,800 support. The overall market capitalization of cryptocurrencies has decreased significantly, now at $2.87 trillion, down from $3.26 trillion.

Bored Ape Yacht Club Bounces Back Amidst Algebra Decline

The Algebra Positions NFT-V2 on Ethereum continues to lead with $7.26 million in sales, down 7.09% from last week’s $7.81 million. This collection processed 511 transactions, with 135 buyers and 106 sellers.

The DMarket on Mythos blockchain ranked second with $6.67 million in sales, showing a slight decrease of 0.09% from last week’s figures. This collection saw a remarkable 197,923 transactions involving 15,185 buyers and 13,188 sellers.

Moving up, Courtyard on Polygon achieved third place with $2.97 million, climbing 32.58% from last week’s $2.24 million. In total, this collection processed 47,241 transactions and engaged 12,558 buyers and 1,276 sellers.

NFT sales nosedive to $72.5M, while Bored Ape Yacht Club recovers 37% - 1
Source: Top collections by NFT Sales Volume (CryptoSlam)

Pudgy Penguins ranked fourth with $2.76 million in sales, slightly down 2.26% from $2.79 million last week. This Ethereum collection had 179 transactions with 113 buyers and 95 sellers. CryptoPunks held the fifth spot with $2.32 million, up 12.57% from the previous week’s $1.95 million, resulting from 23 transactions involving 17 buyers and 19 sellers. The Bored Ape Yacht Club made a notable comeback, ranking sixth with $1.98 million, an increase of 37.35% compared to last week. This collection recorded 99 transactions with 60 buyers and 62 sellers.

Ethereum Grows Weak While BNB Chain Buyers Surge

Ethereum retains the top position with $31.08 million in sales, reflecting a 6.02% decrease from last week’s $33.71 million. Wash trading accounted for $2.22 million, raising its effective total to $33.30 million, while new buyers increased by 7.86% to 24,217.

BNB Chain comes in second with $9.22 million in sales, rising 6.24% from the previous week’s $8.66 million. This blockchain recorded $19,490 in wash trading, increasing its total to $9.24 million, with buyers surging by an impressive 160.17% to 25,034.

NFT sales nosedive to $72.5M, while Bored Ape Yacht Club recovers 37% - 2
Source: Blockchains by NFT Sales Volume (CryptoSlam)

Bitcoin dropped to third place with $7.03 million, reflecting a 7.78% decline from last week's $8.18 million, although the number of buyers rose to 9,600, up 85.61%. Mythos Chain follows in fourth at $6.81 million, showing a slight increase of 0.23% from last week. It drew 30,134 buyers, marking a 79.00% increase.

Polygon secured the fifth position with $4.02 million, a 21.83% rise from $3.26 million the previous week. Wash trading details indicate a total of $11.54 million for this blockchain, with buyers jumping by 175.17% to 59,885. Immutable reached the sixth spot at $3.20 million, down 24.29% from $4.19 million last week, attracting 4,237 buyers and increasing by 135.52%. Lastly, Solana took the seventh place with $3.15 million in sales, a sharp decrease of 41.02% from $5.50 million last week, with 28,110 buyers, reflecting a growth of 114.33%.

CryptoPunks Lead in Top Sales Again

CryptoPunks is once again dominating the top sales positions across the board.