NFT Sales Fall 3% This Week – What Next Now That Bitcoin NFT Craze Has Faded?

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The non-fungible token market has recorded negative growth this week, probably after Bitcoin NFTs lost the initial market hype. Bitcoin NFTs surged in November last year, leaving the global NFT market surpassing over $1 billion in trading sales volume. In this article, we shall assess what is next now that the Bitcoin NFT craze appears to have faded.

NFTs Fall 3% In The Past 7 Days

Data compiled by cryptoslam.io, an on-chain data aggregator, shows that the NFT trading sales volume has slightly shrunk this week. In the past seven days, the global NFT market has amassed a trading sales volume of $302 million, representing a 3.38% increase from the previous week.

Nonetheless, the number of investors purchasing NFTs has increased 95% this week. In the past seven days, the NFT market has recorded $459,559 NFT buyers. On the other hand, the number of investor selling their NFTs has increased 86% to reach $331,764.

Non-fungible tokens hosted on Ethereum, the leading blockchain network, are this week’s top most-traded NFTs. In the past seven days, Ethereum-based NFTs have amassed a trading sales volume of $104 million, representing a 34% spike from the past week.

Digital collectibles hosted on Bitcoin, the same blockchain network that powers the flagship crypto Bitcoin (BTC), are the second most-traded NFTs this week. In the past seven days, the Bitcoin-based NFTs have recorded a trading sales volume of $77 million. Bitcoin NFT sales have plunged 34% from the past week.

Non-fungible tokens hosted on Solana and Polygon blockchain networks are the third and fourth most traded NFT collection this week. In the past seven days, Solana-based NFTs have recorded a trading sales volume of $52 million, while Polygon-based NFTs have amassed a sales volume of $30 million. Solana-based NFT sales volume surged 20%, while Polygon NFT sales fell 32%.

Top Selling NFTs This Week

1. Bitcoin Ordinals ‘Uncategorized’ NFTs

Bitcoin Ordinals, the non-fungible token collection created on the Bitcoin blockchain network using the Satoshi Ordinal protocol, are this week’s top-selling NFT collection. In the past seven days, Bitcoin ordinals have amassed a trading sales volume of $14 million. Bitcoin ordinals sales have plunged 48% from the past week.

2. Gas Hero Common NFT Collection

Gas Hero Common, a non-fungible token collection hosted on Polygon, an Ethereum scaling network, are this week’s second most-selling NFT collection. In the past seven days, the Gas Hero Common NFT collection has recorded a trading sales volume of $12 million. However, Gas Hero Common has plunged 29% this week from the past week.

3. $LIGO BRC-20 NFT Collection

$LIGO, an NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, is this week’s third-selling NFT collection. In the past seven days, the $LIGO BRC-20 NFT collection has recorded a trading sales volume of $10.9 million. $LIGO NFT sales have surged +10,000 this week from the past week.

4. CryptoUndeads NFT Collection

CryptoUndeads, an NFT collection hosted on the Solana blockchain network, is this week’s fourth most-selling NFT collection. In the past seven days, CryptoUndeads has recorded a trading sales volume of $10.6 million. The NFT collection made an entry into the NFT market earlier this week.

5. Dokyo NFT Collection

Dokyo, an NFT collection on Avalanche blockchain with a limited edition of 5,555 NFTs, is this week’s fifth most-selling NFT collection. In the past seven days, the Dokyo NFT collection has recorded a trading sales volume of $10.4 million. Dokyo NFT sales have surged 43% this week compared to the previous week.

6. Pudgy Penguins NFT Collections

Pudgy Penguins, an NFT collection with a limited edition of 8,888 cute penguins birds hosted on the Ethereum network, is this week’s sixth most-selling NFT collection. In the past seven days, the NFT collection has amassed a trading sales volume of $9.3 million. The Pudgy Penguins NFT sale has surged 447% from the past week.

7. Open Solmap NFT Collection

Open Solmap, an NFT collection on the Solana blockchain network, is this week’s seventh most-selling NFT collection. In the past seven days, the Open Solmap NFT collection has recorded a trading sales volume of $8.2 million. Open Solmap NFT sales have surged 462% from the past week.

8. TinFin NFT Collection

TinFin, an NFT collection on the Ethereum blockchain network, is this week eighth most selling NFT collection. In the past seven days, the TinFin NFT collection has amassed a trading sales volume of $7.2 million. TinFin NFT collection came into the limelight earlier this week.

9. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, an NFT collection from the digital asset firm Yuga Labs that features a fixed supply of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s ninth most-selling NFT collection. In the past seven days, the Bored Ape Yacht Club NFT collection has raised a trading sales volume of $5.8 million. Bored Ape NFT sales volume has surged 10.95% from the past week.

10. CryptoPunks NFT Collection

CryptoPunks, an NFT collection previously from the digital asset firm Larva Labs that features a limited edition of 10,000 NFT hosted on the Ethereum blockchain network, is this week’s tenth-selling NFT collection, closing our ten top-selling NFT list. In the past seven days, CryptoPunks has recorded a trading sales volume of $5.7 million. CryptoPunks NFT sales volume has surged 28% from the past week.

Most Expensive NFT Collection Sold This Week

LIF3 V3 Position #9 was the most expensive NFT collection sold this week, selling for $698,247 three days ago.LIF3 V3 Position #15 was the second most expensive NFT collection sold this week, selling for $245,549 three days ago. Boogle #047 was the third most expensive NFT sold this week, selling for $219,998 two days ago.

NFT Market Prediction: What Next?

The non-fungible token market is making a rebound, with Ethereum-based NFT collections leading the short market rally. Based on predictions from industry experts, the NFT and crypto markets are expected to skyrocket in growth in the coming weeks or months, probably after the highly awaited Bitcoin (BTC) halving.