NFT Sales Dip 40% This Week, As Ethereum & Solana Rival For NFT Market Dominance

The red-hot non-fungible token market has slightly cooled off after several weeks of a bullish market rally. The recent market started in November following the resurgence of BRC-20 and Solana NFTs. In this article, we shall explore the state of the NFT market in the past seven days.

NFT Sales Dip 40% This Week

Data fetched by CryptoSlam.io, an on-chain data aggregator, indicates that the global NFT market has slightly declined in sales volume this week. In the past 24 hours, the global NFT market has amassed a trading sales volume of $315 million, representing a 40% decline from the past week.

Non-fungible token collections hosted on the Bitcoin blockchain network have been the most traded NFT collections this last week of December. Bitcoin-based NFTs have amassed a trading sales volume of $133 million in the past seven days. Bitcoin NFTs have plunged 60% in sales from the past week.

Digital collectibles hosted on Solana, a decentralized network that utilizes proof- of – stake consensus mechanism, have been the second most traded NFT collection this last week of 2023. Solana-based NFTs have recorded a trading sales volume of $73 million in the past seven days.

Source: CryptoSlam.io, NFT sales by blockchain networks

Ethereum-based NFT collections have been the third most traded NFT collection this week. Ethereum-based NFTs have recorded a trading sales volume of $71 million in the past seven days. Ethereum and Solana have been in tight market rivalry to dominate the NFT market.

Polygon and Arbitrum have been the fourth and fifth most traded blockchain networks in the NFT ecosystem. In the past seven days, Polygon-based NFTs have amassed a trading sales volume of $9.2 million, while Arbitrum-based NFTs have recorded a trading sales volume of $6.1 million.

Top Selling NFTs This Week:

Source: CryptoSlam.io, top selling NFTs this week

1. Bitcoin Ordinals ‘Uncategorized’ NFTs

Bitcoin Ordinal, the equivalent of non-fungible tokens created on the Bitcoin blockchain network using satoshis, the smallest denomination on the chain, are the top most-selling NFT collection this last week of December. Bitcoin Ordinals has amassed a trading sales volume of $16 million in the past seven days. However, Bitcoin Ordinals have decreased 48% in trading sales volume this week.

2. Froganas NFT Collection

Froganas, an NFT collection hosted on the Solana blockchain network, has been the second most-selling NFT collection this last week of December 2023. Froganas NFT collection has attracted a trading sales volume of $14 million in the past seven days. During this period, Froganas NFT sales volume increased by 6,396%.

3. $SAIX BRC-20 NFTs

$SAIX, an NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been the third most-selling NFT collection this last week of December. SAIX BRC-NFT collection has amassed a trading sales volume of $7.3 million in the past seven days.

4. $RAT BRC-20 NFT Collection

$RAT, an animal-inspired NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been the fourth most-selling NFT collection this week. In the past seven days, the $RAT BRC-20 NFT collection has recorded a trading sales volume of $6.8 million.

5. $.ANT BRC-20 NFTs

$.ANT, a non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been the fifth most-selling NFT collection this week. In the past seven days, $.ANT BRC-20 NFT collection has recorded a trading sales volume of $6.3 million. During this period, $.ANT BRC-20 NFT has increased 135% in trading sales volume.

Source: CryptoSlam.io, top selling NFTs in the past seven days

6. $ORDI BRC-20 NFTs

$ORDI, another NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been the sixth most-selling NFT collection this week. The $ORDI BRC-20 NFT collection has amassed a trading sales volume of $5.5 million in the past seven days. $ORDI has surged 236% in trading sales volume this week compared to the previous week.

7. $SAT BRC-20 NFT Collection

$SAT, another NFT collection created exclusively on the Bitcoin blockchain network using BRC-20 ordinal protocol, has been the seventh most-selling NFT collection this week. In the past seven days, the $SAT BRC-20 NFT collection has recorded a trading sales volume of $5.3 million. $SAT has plunged 49% in sales volume this week from the past week.

8. $PIIN BRC-20 NFTs

$PIIN, another NFT collection created on the Bitcoin blockchain network using BRC-20 ordinal protocol, has been the eighth most traded NFT collection this last week of December. In the past seven days, $PIIN has recorded a trading sales volume of $4.8 million. $PIIN BRC-20 NFT sales have surged 85% this week compared to the past week.

9. Sentry Node License NFTs

Sentry Node Licence, an NFT collection hosted on the Arbitrum blockchain network, has been the ninth most-selling NFT collection this last week of December. In the past seven days, the Sentry Node Licence NFT collection has recorded a trading sales volume of $4.8 million. The NFT collection is up 109% in sales volume this week compared to the past week.

10. Gods Unchained NFT Collection

Gods Unchained is an NFT collection from the digital trading card game Gods Unchained hosted on the Immutable X blockchain network. Gods Unchained NFT collection has amassed a sales volume of 4.6 million in the past seven days, closing our ten top-selling NFT list this week.

Most Expensive NFTs Sold This Week

FrxETH Redemption #33 was the top most-expensive NFT collection this week, selling for $638,433 six days ago. Boogle #009 was the second most expensive NFT collection this week, selling for $274,209 two days ago. Lock Deal NFT #996 was the third most expensive NFT collection this week, selling for $82,859 just nineteen hours ago.

Source: CryptoSlam.io, the most expensive NFT collection sold in the past seven days

Top NFT News In The NFT Ecosystem This Week

1. Starbucks Launched Costa Rica NFT Trip

Earlier this week, Starbucks, the world-renowned coffee house, announced giving away an all-expense-paid trip to Costa Rica, among other rewards for high-ranked NFT holders of its Odyssey collection. Starbucks anticipates using the Costa Rica Trip to bridge the gap between the digital and real world, marking a critical turning point in the NFT landscape and potentially indicating analogous ventures in the near future.

Starbucks Odyssey (Starbucks' NFT program) just announced a trip to Costa Rica for the top 20 members.

Flight, hotel, activities covered.

This is on top of 60K+ Stars given away, 10 Journeys, three Benefit Selection Periods, and several exclusive Discord guests.

All in 2023. pic.twitter.com/Fh6VGYZnLq

— Steve 🤙 (@NFTbark) December 27, 2023

2. Trump Cashed Out His NFT Earnings

Donald Trump, the Former United States President and crypto investor, recently cashed out some of the Ether he made through selling his digital trading card NFTs, with his affiliated crypto wallet transferring 1,075 Ether into the Coinbase crypto exchange on December 8. Trump made the ETH from his NFT collections, which recently included his infamous mugshot that was captured when he surrendered himself to authorities in Georgia in August.

Looks like Donald Trump is selling his ETH.

3 weeks ago he started sending ETH to Coinbase after months of accumulating Trump NFT royalties. His peak balance was $4 million.

Based on the deposits, so far he's sold 1,075 ETH for $2.4 million. pic.twitter.com/JZzA3cS2je

— Arkham (@ArkhamIntel) December 27, 2023

3. Kevin Rose Claimed Running Moonbirds Made Him Sick

Kevin Rose, the crypto entrepreneur and the chief executive officer of the Moonbirds NFT project, recently shared his leadership journey since the inception of the NFT project. In an interview, Rose noted that the project had made him develop medical complications, including depression, due to its poor performance in the past year.

Running @moonbirds gave @kevinrose Anxiety, IBS, High Blood Pressure, Brain Aneurysm and drove him to Ketamine

(source: @tferriss podcast) pic.twitter.com/OmzX8HBJt9

— Robin Dubs.eth (@CryptoApe101) December 28, 2023