NFT Sales Plummet 27% to $62.5 Million, Bitcoin Sales Drop 65%

Summary: Recent data from CryptoSlam indicates a significant downturn in NFT sales, which have declined by 27.65% to $62.58 million, a stark decrease from last week's $88.29 million. Additionally, the number of active buyers and sellers has dropped dramatically, contributing to the overall bearish trend in the market. Bitcoin prices have remained stable, while Ethereum struggles to maintain its key thresholds amid fluctuating market conditions.

Key Takeaways

NFT sales dropped by 27.65%, totaling $62.58 million.
Total NFT buyers decreased by 82.75%, reaching 60,985.
The NFT transactions fell by 23.64% to 690,550.
Bitcoin price remained stable around the $90,000 mark, while Ethereum fell below $3,100.
CryptoPunks led sales among NFT collections with $3.59 million.
Ethereum maintained the highest sales in the crypto market at $26.76 million.

NFT sales fell 27.65% to $62.6M as buyers and sellers collapsed

Decline in NFT Sales Amidst Market Shifts

According to data from CryptoSlam, NFT sales volume has experienced a notable drop of 27.65%, now standing at $62.58 million, a decline from last week's figure of $88.29 million. This downturn reflects a significant decrease in market activity, with NFT buyers falling by 82.75%, leaving only 60,985 active participants, and the number of sellers dropping by 77.69% to 56,228. The total number of NFT transactions has also decreased by 23.64%, totaling 690,550.

This slump in NFT sales coincides with a stable phase for Bitcoin, which is holding steady at approximately $90,000 following a recovery. However, Ethereum has faced challenges, slipping below the crucial $3,100 mark. The global cryptocurrency market capitalization is currently at $3.09 trillion, showing a slight increase from last week’s $3.08 trillion.

NFT sales fell 27% to $62.5M, Bitcoin sales dump 65% - 1

Top NFT Collections: A Shift in Sales

CryptoPunks emerges as the leading collection this week, amassing $3.59 million in sales, which is a remarkable increase of 33.58% from last week's $2.69 million. This collection saw a total of 31 transactions with 21 buyers and 17 sellers.

In second place, YES BOND on BNB recorded $2.75 million, reflecting minimal growth of 1.34% from last week’s $2.72 million. This collection had 2,277 transactions with 1,836 buyers and only 1 seller.

Panini America on the Panini blockchain made a stellar jump to third place, with $2.51 million in sales, marking a staggering increase of 176.41%. This collection saw strong activity with 19,194 transactions involving 934 buyers and 1,765 sellers.

Meanwhile, the Pudgy Penguins collection dropped to fourth place with $2.15 million, down by 8.80% compared to last week’s $2.39 million. This Ethereum collection had 134 transactions with 74 buyers and 81 sellers. TokenVestingPlans on Ethereum secured the fifth position with $1.81 million, showcasing an impressive 3,779.55% surge through just 44 transactions with 1 buyer and 14 sellers.

Guild of Guardians Heroes on Immutable-Zk placed sixth with $1.77 million in sales, reflecting a decrease of 22.72% from last week.

Ethereum Maintains Dominance Amid Bitcoin’s Decline

Ethereum continues to lead the market with $26.76 million in sales, closely matching last week’s total, with a slight decline of 0.10% from $27.57 million. The network reported $3.97 million in wash trading, yielding a combined total of $30.73 million in sales. However, the number of buyers dwindled significantly by 86.03% to just 3,338.

In contrast, Bitcoin fell to second place with sales of $10.43 million, experiencing a steep decline of 65.16% from $29.95 million recorded last week. Bitcoin's wash trading came to $97,394, alongside a drastic decrease in buyers, dropping by 86.01% to 1,713.

The BNB Chain maintained its third position with $7.00 million, nearly unchanged, showing a minor 0.62% dip from the previous week. This blockchain had $8,217 in wash trading, along with a staggering drop of 94.36% in buyers, leaving only 2,820 participants.

NFT sales by blockchain

On the other hand, Immutable climbed to the fourth position with $3.91 million, reflecting an increase of 18.29% compared to last week’s $3.26 million, despite a decline in buyers by 85.68% down to 886.

Solana moved up to fifth place with $3.73 million in sales, marking a 37.01% increase from $2.89 million last week. However, buyers on this blockchain dropped by 86.81%, totaling 5,098.

Panini experienced a significant rise, landing at sixth with $2.51 million, a 173.06% increase. The blockchain saw a modest increase in buyers, reaching 934.

Finally, Base finished in seventh place with $2.09 million, which is a decline of 23.14% from last week's total of $3.11 million, while buyers decreased by 58.33% to 36,212.

Leading Individual Sales Despite Collection Decline

A standout $X@AI BRC-20 NFT topped the individual sales chart, attracting $1.37 million (15.0069 BTC) just six days ago, a sharp drop from the previous week's record-breaking sale of $17.13 million.

CryptoPunks #7892 claimed the second spot at $529,592.56 (169 ETH), also sold six days ago. In third place, Bored Ape Yacht Club #3112 was sold for $214,970.88 (69 ETH) one day ago. Two additional CryptoPunks dominated the remainder of the top five placements, reflecting ongoing interest in these legendary collections.