NFT Sales Fall 8% Again This Week – How Low Can NFTs Go This Bear Market?

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The non-fungible token market continues to experience negative week-over-week growth after the recent crypto market hype that fueled its resurgence faded. The NFT market retested a massive market rally earlier this year, following the then highly anticipated Bitcoin halving event.

NFTs Fall Again In Sales This Week

In March 2024, the crypto market underwent a rally, which pushed the flagship crypto, Bitcoin, to new all-time highs. The rally also fueled the resurgence of some NFT collections, including the BRC-20 NFT collections, Bitcoin Ordinals, and ERC-404 NFT collections. Unfortunately, this short crypto and NFT bullish season did not last long.

Data compiled by cryptoslam.io, an on-chain crypto market aggregator and a multi-chain non-fungible token explorer, shows that the non-fungible token market has yet suffered another week of market downturn. In the past seven days, the global NFT market has amassed a trading sales volume of $150 million, representing an 8.66% decline from the past week.

Nonetheless, the number of non-fungible token investors purchasing this dip has skyrocketed this week. In the past seven days, the number of investors buying NFTs has risen to 478,480, representing a 213% increase from the previous week. The number of investors who sold their NFTs also increased 172% this week.

Bitcoin Leads In NFT Sales This Week

Bitcoin, the blockchain network powering the flagship crypto Bitcoin and renowned in the non-fungible token market for its Bitcoin ordinals and BRC-20 NFT collections, is the dominant NFT blockchain this week. In the past seven days, Bitcoin-based NFT collections have recorded a trading sales volume of $47 million, down 5.15% from the previous week.

Source: cryptoslam.io, NFT sales by blockchain networks in the past seven days

Ethereum, the blockchain network powering the second largest crypto asset, Ether, and renowned in the non-fungible token market for its wide range of blue-chip NFT collections, is the second most traded NFT blockchain this week. In the past seven days, Ethereum-based NFT collections have recorded a trading sales volume of $37 million, which has declined by 7.35% from the previous week.

Solana, an open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, is the third most-traded blockchain network in the NFT ecosystem this week. In the past seven days, the Solana-based NFT collections have raised a trading sales volume of $18 million, but the Solana NFT trading sales volume has declined by 29% from the past week.

Blast, an Ethereum layer two blockchain network from the Blur NFT marketplace, and Polygon, an Ethereum scaling solution, are the fourth and fifth most-traded NFT blockchain networks this week. In the past seven days, the Blast-based NFT collections have recorded a sales volume of $14 million, while Polygon-based NFT collections have amassed a sales volume of $20 million.

Top Selling NFTs In The Past 7 Days

Source: cryptoslam.io, top-selling NFT collection in the past seven days

1. Bitcoin Uncategorized NFT Collection

Bitcoin Uncategorized, a veteran non-fungible token collection created on the Bitcoin blockchain network using the ordinal protocol, is this week’s top-selling NFT collection. In the past seven days, the Bitcoin Uncategorized NFT series has amassed a trading sales volume of $17 million, but sales have plunged by 24% from the previous week.

2. Fantasy Top NFT Collection

Fantasy Top, a non-fungible token from the now popular digital trading card game Fantasy, top crated on the Blast Layer 2 network, is this week’s second most-selling NFT collection. In the past seven days, the Fantasy Top NFT collection has recorded a trading sales volume of $14 million. Fantasy Top NFT sales have declined 24% from the past week.

3. DMarket NFT Collection

DMarket, a non-fungible token collection from the DMarket, a marketplace to trade virtual items and technology for building metaverses, is this week’s third most-selling NFT collection this week. In the past seven days, the DMarket NFT collection has recorded a trading sales volume of $5.8 million.

4. NodeMonkes NFT Collection

NodeMonkes, another non-fungible token collection created on the Bitcoin network leveraging the unique capabilities of the Ordinals protocol, is this week’s fourth top-selling NFT collection. In the past seven days, the NodeMonkes NFT collection has amassed a trading sales volume of $5.6 million. The NodeMonkes NFT sales have surged 18.15% from the past week.

5. Guild Of Guardians NFT Collection

Guild of Guardians, a non-fungible token collection from Guild of Guardians, a mobile RPG where players take teams of heroes through challenging dungeons to collect resources, is this week’s fifth most-selling NFT collection. In the past seven days, the Guild of Guardian NFT collection has amassed a trading sales volume of $4.17 million. The Guild of Guardian NFT sales volume has increased by 56% from the past week.

Source: cryptoslam.io, top-selling NFT collection in the past seven days

6. $Core BRC-20 NFT Collection

$Core, a new non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, is this week’s sixth most-selling NFT collection. In the past seven days, the $Core BRC-20 NFT collection has attracted a sales volume of $3.4 million. The $Core BRC-20 NFT trading sales volume has surged 36% from the past week.

7. CryptoPunks NFT Collection

CryptoPunks, a non-fungible token collection previously from the digital asset firm Larva Labs featuring a limited supply of 10,000 pixilated NFTs hosted on the Ethereum blockchain network, is this week’s seventh most-selling NFT collection. In the past seven days, the CryptoPunks NFT collection has attracted a trading sales volume of $3.1 million.

8. Solana Monkey Business NFT Collection

Solana Monkey Business, a non-fungible token collection of 5000 unique 24×24 pixels randomly generated Monkeys stored on the Solana blockchain network, is this week’s eighth most-selling NFT collection. In the past seven days, the Solana Monkey Business NFT collection has raised a trading sales volume of $2.2 million.

9. DeGods NFT Collection

DeGods, a non-fungible token collection from the digital asset firm DeLabs featuring a fixed supply of 10,000 hosted on the Ethereum blockchain network, is this week’s ninth most-selling NFT collection. In the past seven days, the DeGods NFT collection has recorded a trading sales volume of $2.2 million.

10. Mad Lads NFT Collection

Mad Lads, a non-fungible token collection from the Solana infrastructure development project Coral featuring a limited edition of 10,000 NFT collections, is this week’s tenth most-selling NFT collection. The Mad Lads NFT collection has amassed a trading sales volume of $2.1 million in the past seven days, closing our ten top-selling NFT collections this week.

Top NFT Sales In The Past 7 Days

CryptoPunks #741 is the most expensive NFT collection sold this week, selling at $792,046 six days ago. An $ORDI BRC-20 NFT collection is the second most costly NFT collection sold this week, selling for $681,497 three days ago. Mad Lads #3919 is this week’s most expensive NFT collection, selling for $73,368 six days ago.