Ethereum NFTs Take Short Rest – Start The New Week Down 28%

Ethereum NFTs Take A Short Rest – Start The New Week Down 28%

Updated: 23 December 2024

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The non-fungible token market appears to have taken a short recess after experiencing a robust bull run, marked by skyrocketing trading sales volumes and floor price values. The NFT market retested fresh Bull Run last week after Ethereum-based non-fungible token collections led by the globally acknowledged Pudgy Penguins exploded over 70% in trading sales volume and floor price value.

NFT Sales Fall 20% In The Past 24 Hours

Data compiled by cryptoslam.io, an on-chain crypto assets market aggregator and a multi-chain non-fungible token explorer, shows that the non-fungible token market has slightly tanked again in sales volume. In the past 24 hours, the global NFT sales volume has plunged by 20% to reach $22 million. This light downturn comes after the recent Ethereum NFT bull run, which fueled the global NFT weekly sales volume past $300 million, faded.

In a similar context, Ethereum, the same blockchain network powering the famous crypto Ether and renowned in the global NFT market for hosting the majority of blue-chip NFT collections, has started the last week of December down +30% after the market rally cooled off. In the past 24 hours, the Ethereum-based NFTs have amassed a trading sales volume of $12 million, down 28% from the previous day.

Non-fungible tokens hosted on Bitcoin, the blockchain network renowned in the NFT market for powering Runes, Ordinals, and BRC-20 NFT collections, and Solana, an open-source blockchain network that supports smart contracts, including NFTs and various decentralized applications, have also recorded negative growth. In the past 24 hours, the Bitcoin-based NFTs have raised a trading sales volume of $3.02 million, while the Solana-based NFTs have amassed a trading sales volume of $2.4 million.

Top Selling Ethereum NFTs In The Past 24 Hours

Despite a short recess in the Ethereum NFT market, Pudgy Penguins, a non-fungible token series that features a limited edition of 8,888 cartoon penguin birds hosted on the Ethereum blockchain network, is the top-selling NFT collection in the NFT market. In the past 24 hours, the Pudgy Penguins NFT collection has amassed a trading sales volume of $1.4 million. During this period, Penguin’s NFT sales volume has plunged by 25% from the past day.

Blue-chip Azuki, a non-fungible token collection from the digital asset incubation studio Chiru Labs featuring a fixed supply of 10,000 anime-themed NFTs hosted on the Ethereum blockchain network, is today’s second top-selling non-fungible token collection in the NFT market. In the past 24 hours, the Azuki NFT collection has recorded a trading sales volume of $1.2 million. The Azuki NFT sales volume has plunged by 55% from the past day.