NFTs Take Another Short Breather – Weekly NFT Sales Drop By 8.29%

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The global non-fungible token market appears to have taken another short breather after rallying for the past two weeks. The non-fungible token market retested some surge late last month, breaking the then brutal market resistance that held the NFT trading sale volume below $70 million for the first time since 2021. The NFT market has plunged by 8.29% in the past seven days, but this market is still staged for higher levels in the coming weeks.

NFT Sales Tank 8.29% In The Past 7 Days

Data compiled by CryptoSlam.io, an on-chain crypto market data aggregation platform designed to offer seamless tracking for NFT collectibles across multiple blockchain networks and backed by the prominent crypto billionaire Mark Cuban, indicates that the global non-fungible token market has again plunged in sales volume this past week. In the past seven days, the global NFT market has amassed a trading sales volume of $78 million, representing an 8.29% decrease from the previous week.

Relatively, the number of investors who have bought non-fungible token collections has reduced from the previous week. In the past seven days, the global NFT market has seen just 334K crypto investors buying NFTs. During this period, the number of crypto investors who sold their NFTs has also reduced by 66% this past week, with some probably waiting for better market returns. NFT transactions have climbed above 1.6 million, down 19% from the previous week.

Ethereum NFT Sales Jump 9.93% In The Past 7 Days

Ethereum, one of the leading blockchain networks renowned in the NFT market for powering the majority of blue-chip non-fungible token collections, was again the most traded network this past week. In the past seven days, Ethereum-based NFTs have amassed a trading sales volume of $28 million, surging by 9.93% from the previous week.

Bitcoin, the leading crypto blockchain network and renowned in the NFT market for powering Runes, Ordinals, and BRC-20 NFT collections, has surged again in traction, becoming the second most-traded blockchain network in the NFT ecosystem this past week. In the past seven days, the Bitcoin-based NFT collections have recorded a trading sales volume of $15 million. During this time, the volume of Bitcoin NFT trading sales has surged by 15% from the previous week.

Solana, an open-source blockchain network that supports smart contracts, including non-fungible tokens and various decentralized applications, has been this past week’s third most-traded blockchain network in the NFT market. In the past seven days, the Solana-based NFT collections have attracted a trading sales volume of $12 million, representing an 18% from the previous week.

Polygon, the scaling solution blockchain network on Ethereum, and the Mythos Chain, the blockchain network created on the Polkadot network to revolutionize web3 gaming, are this past week’s fourth and fifth most-traded blockchain networks in the NFT market. In the past seven days, Polygon-based NFTs have raised a trading sales volume of $5.3 million, while the Mythos Chain-based NFT collection has raised a trading sales volume of $5.2 million, representing a 32% and 65% plunge from the previous week.

Top Selling NFTs In The Past 7 Days

1. DMarket NFT Collection

DMarket, a non-fungible token collection from DMarket, a renowned NFT Marketplace offering secure buying, selling, and trading of NFT items on Mythos Chain, was again his past week’s top-selling NFT collection. In the past seven days, the DMarket NFT collection has recorded a trading sales volume of $4.9 million. Nonetheless, the DMarket NFT trading sales volume plunged by 66% from the previous week.

2. Bitcoin Puppets NFT Collection

Bitcoin Puppets, a renowned ordinal collection featuring a limited edition of 10,001 unique PFPs hand-drawn in MS Paint by a 12-year-old artist and stored in the Bitcoin blockchain network, was this past week’s second most-selling NFT collection. In the past seven days, the Bitcoin Puppets NFT collection has raised a trading sales volume of $3.1 million. During this time, the Bitcoin Puppets NFT sales volume has plunged by 10.4% from the previous week.

3. Guild Of Guardians NFT Collection

The Guild of Guardians, a non-fungible token collection from Guild of Guardians, a renowned role-playing NFT game that allows players to take teams of heroes through challenging dungeons to collect redeemable resources, was this past week’s third most-selling NFT collection. In the past seven days, the Guild of Guardians NFT collection has amassed a trading sales volume of $2.9 million. During this time, the Guild of Guardians NFT trading sales have plunged by 3% from the previous week.

4. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, a renowned non-fungible token collection from the popular digital asset firm Yuga Labs featuring a fixed edition of 10,000 profile pictures hosted on the Ethereum network, was this past week’s fourth most-selling NFT collection. In the past seven days, the Bored Ape Yacht Club NFT collection has raised a trading sales volume of $2.7 million, up 127% from the previous week.

5. CryptoPunks NFT Collection

Cryptopunks, another all-time top-selling NFT collection from the digital asset firm Yuga Labs that features a limited edition of 10,000 NFTs hosted on the Ethereum blockchain network, was this past week’s fifth most-selling NFT collection. In the past seven days, the CryptoPunks NFT collection has raised a trading sales volume of $2.4 million. Punks NFT sales have surged 19% from the previous week.