NFT Sales Fall 5% This Past Week – Here’s The NFT Market Prediction For This Week

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The non-fungible token market presented a bearish landscape along with other cryptocurrencies this past week, according to recent crypto market statistics. The market downturn started after rumours about the SEC rejecting Bitcoin Exchange Traded Fund fillings went viral. In this article, we shall explore what should be expected now that the larger crypto community eagerly awaits Bitcoin EFTs deliberations this week.

Source: X (formerly Twitter), Bitcoin ETFs trending right now

NFT Sales Fall 5.56% This Past Week

Data compiled by Cryptoslam.io, an on-chain data aggregator, indicates that the global non-fungible token market has recently faced a meltdown. In the past seven days, the NFT market amassed a trading sales volume of $306 million, representing a 5.56% decline from the previous week.

Non-fungible token collections hosted on Bitcoin, the same blockchain network that powers the flagship crypto Bitcoin, were the most-traded NFT collection this past week. In the past seven days, Bitcoin-based NFT collections have amassed a sales volume of $123 million. However, the Bitcoin NFT sales volume has fallen 16% this past week from the previous week.

Digital collectibles hosted on Ethereum, one of the largest blockchain networks for NFTs, were the second most-traded NFT collection this past week. Ethereum-based NFT collection has recorded a trading sales volume of $70 million in the past seven days. Ethereum-based NFT sales jumped 1.18% this past week from the previous week.

Source: Cryptoslam.io, NFT Sales by blockchain in the past seven days.

Non-fungible token collections hosted on Solana, a decentralized blockchain network that utilizes proof of stake consensus mechanism and Polygon, an Ethereum scaling blockchain network, were the third and fourth most traded NFT collection this past week. In the past seven days, Solana-based NFTs amassed a trading sales volume of $43 million.

Polygon-based NFTs recorded a trading sales volume of $35 million this past week. Solana NFT sales fell 35% during this period, while Polygon NFT sales soared 194% from the previous week. Avalanche closed the top five NFT blockchain list, amassing a trading sales volume of $9.8 million. However, the number of traders buying and selling NFTs has fallen 94% and 92% this past week.

Ten Top-Selling NFTs Collections This Past Week

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

1. Bitcoin Ordinals ‘Uncategorized NFTs’

Bitcoin Ordinals, a non-fungible token collection created on the Bitcoin blockchain network using Satoshi Nakamoto’s ordinal theory, was the top most-selling NFT collection this past week. In the past seven days, the Bitcoin Ordinals NFT collection has amassed a trading sales volume of $42 million. Bitcoin Ordinal NFT sales jumped 35% last week from the previous week.

2. Gas Hero Common NFT Collection

Gas Hero Common, an NFT collection hosted on the Polygon blockchain network, was the second most-selling NFT collection this past week. In the past seven days, the Gas Hero Common NFT collection has recorded a trading sales volume of $10 million.

3. $?? BRC-20 NFT Collection

The Question mark ‘??,’ a non-fungible token collection created on the Bitcoin blockchain network using BRC-20 ordinal protocol, was the third most-selling NFT collection this past week. In the past seven days, $?? BRC-20 NFT collection has attracted a trading sales volume of $7.5 million. The NFT Collection pumped 99.8% in sales volume from the previous week.

4. Dokyo NFT Collection

Dokyo, an NFT collection from the digital asset incubation studio Ava Labs, in partnership with Japanese creative web3 studio Murasaki that features a limited supply of 5,555 NFTs hosted on the Avalanche blockchain network, was the fourth most traded NFT collection this past week. In the past seven days, Dokyo has recorded a trading sales volume of $7.2 million. Dokyo NFT sales have risen 117% this past week.

5. Froganas NFT Collection

Froganas, an NFT collection with a limited supply of 5,555 Solana-based humanoid frogs mutated by mysterious environmental changes, was the fifth most-selling NFT collection this past week. Froganas NFT collection has amassed a trading sales volume of $7.1 million in the past seven days. During this period, Froganas NFT collection fell 49% this past week.

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

6. Gas Hero Coupon NFT Collection

Gas Hero Coupon, another new non-fungible token collection hosted on Polygon, an Ethereum scaling network, was the sixth most-selling NFT collection this past week. In the past seven days, Gas Hero Coupons has recorded a trading sales volume of $6.5 million.

7. DMarket NFT Collection

DMarket, an NFT collection from the DMarket NFT market platform hosted on the Mythos Chain blockchain network, was the seventh most-selling NFT collection this past week. In the past seven days, the DMarket NFT collection has recorded a trading sales volume of $5.1 million. DMarket NFT sales soared 10.36 % in the past week from the previous week.

8. Gas Hero Items NFT Collection

Gas Hero Items, another NFT collection hosted on the Polygon blockchain network was the eighth most-selling NFT collection this past week. The Gas Hero Items NFT collection has garnered a trading sales volume of $4.9 million in the past seven days.

9. Gas Hero Weapon NFT Collection

Gas Hero Weapon, another NFT collection hosted on the Polygon blockchain network, was the ninth most-selling NFT collection this past week. In the past seven days, the Gas Hero Weapon NFT collection has garnered a trading sales volume of $4.9 million.

10. Azuki NFT Collection

Blue-chip Azuki, an NFT collection from the digital asset firm Chiru Labs that features a limited supply of 10,000 anime-themed NFTs hosted on the Ethereum blockchain network, was the tenth most-selling NFT collection this past week. Azuki NFT collection has raised a trading sales volume of $4.6 million in the past seven days. Azuki NFT sales rose 103% in the past week from the previous week.

Most Expensive NFTs Sold This Past Week

The RBX Vesting Voucher #42 was the most expensive NFT collection sold this past week, selling for $741,910 seven days ago. Lock Deal #1,675 was the second most expensive NFT collection sold this past week, selling for $452,943 twenty-four hours ago. $ORD, a BRC-20 NFT collection, was the third most-selling NFT collection this past week, selling for $428,277 four days ago.

The NFT Market Prediction For This Week

The NFT market, which bounced back in November 2023 after experiencing a disappointing more than-year downturn, is expected to continue growing this new year. The NFT market awaits a few market catalysts, including highly anticipated Bitcoin ETF approvals, to retest another Bull Run. Data from Statista previously predicted the NFT market would reach $3.2 billion by 2027.