NFTs Weekly Sales Fall By 16% – Is The NFT Market Rally Over?

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The non-fungible token market has taken a short bull breather after several weeks of bull rally. In the past seven days, the NFT market has recorded $153 million, down 16% from the previous week. The NFT market began surging earlier this month, following the prospect of a supportive crypto market regulatory regime under the United States President-elect Donald Trump.

NFT Sales Fall 16% In The Past 7 Days

Data compiled by CryptoSlam.io, an on-chain crypto assets market aggregator and a multi-chain non-fungible token explorer backed by billionaire Mark Cuban, shows that the non-fungible token market has slightly tanked again this past week. In the past seven days, the global NFT market has raised trading sales volume of $153 million, down 16% drop from the previous week. Nonetheless, this is the second-highest NFT trading sales volume since the beginning of the year.

Ethereum, the same blockchain network powering the famous Ether and renowned in the NFT market for hosting the majority of blue-chip NFT collections, has been this past week’s top-traded blockchain network in the NFT market. In the past seven days, the Ethereum-based NFT collections have raised a trading sales volume of $48 million. Ethereum NFT sales have plunged by 28.55% from the previous week.

Bitcoin, the blockchain network powering the flagship crypto Bitcoin and renowned in the NFT market for hosting Runes, Ordinals, and BRC-20 NFT collections, has been this past week’s second most-traded blockchain network in the NFT ecosystem. In the past seven days, the Bitcoin-based NFT collections have recorded a sales volume of $40 million. Bitcoin NFT sales volume has dropped by 36.16% 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 NFT blockchain network. In the past seven days, the Solana-based NFT collections have recorded a trading sales volume of $22 million. During this period, the Solana NFT sales have dropped by 20.03% from the previous week.

Polygon, an Ethereum scaling solution, and Mythos Chain, the gaming blockchain network that leverages the Ethereum Virtual Machine (EVM) compatibility, have been this past week’s fourth and fifth most-traded blockchain net in the NFT market. In the past seven days, Polygon-based NFTs have amassed a sales volume of $15 million, while the Mythos Chain NFTs have raised a trading sale volume of $10 million. Polygon NFT trading sales volume has surged 422% from the past week.

Ten Top Selling NFTs In The Past 7 Days

1. $?? BRC-20 NFT Collection

$??, a non-fungible token collection created using the BRC-20, a token standard on the Bitcoin blockchain that allows for the creation of tokens that represent ownership of assets, is this past week’s most traded NFT collection in the NFT market. In the past seven days, the $?? BRC-20 NFT collection has amassed a trading sales volume of $14 million. $?? BRC-20 NFT sales have plunged by 53% from the past week.

2. MGGA HAT NFT Collection

Make GMT Great Again (MGGA) Hat, a non-fungible token collection from the GMT DAO, an independent community organization for the GMT token holders, has been this past week’s second most-traded NFT collection in the NFT market. In the past seven days, the MGGA Hat NFT collection has raised a trading sales volume of $11 million. MGGA Hat NFT trading sales volume has surged by 100% from the previous week.

3. CryptoPunks NFT Collection

CryptoPunks, a non-fungible token collection that features a limited edition of 10,000 pixilated NFTs previously created by the Larva Labs but now managed by the Bored Ape creator Yuga Labs, has been this past week’s third most-selling NFT collection in the NFT market. In the past seven days, the CryptoPunks NFT series has raised a trading sales volume of $9.8 million. The CryptoPunks NFT sales have tanked 58.73% from the previous week.

4. Guild Of Guardians NFT Collection

The Guild of Guardians, a non-fungible token collection from Guild of Guardians, a role-playing P2E game that allows players to take teams of heroes and compete through challenging dungeons to collect resources, has been this past week’s fourth most-selling NFT collection in the NFT market. In the past seven days, the Guild of Guardians NFT collection has raised a trading sales volume of $5.8 million. The Guild of Guardians NFT trading sales volume has surged by 49% from the previous week.

5. DMarket NFT Collection

DMarket is a non-fungible token collection created on the Mythos Chain blockchain network that represents in-game virtual items of popular online games such as Counter-Strike and Dota 2, has been this past week’s fifth most traded NFT collection in the NFT market. In the past seven days, the DMarket NFT collection has amassed a trading sales volume of $5.6 million, down 0.02% from the previous week.

6. Uncategorized Ordinal Collection

Uncategorized Ordinal, a non-fungible tokens created on the Bitcoin blockchain network that aren’t officially part of any collection, have been this past week’s sixth most-selling NFT collection. In the past seven days, the Uncategorized Ordinals collection has amassed a trading sales volume of $5 million. The Uncategorized Ordinal trading sales volume has surged 193% from the previous week.

7. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, the flagship NFT Collection of the digital asset firm Yuga Labs featuring a limited edition of 10,000 ape PFPs hosted on the Ethereum blockchain network, has been this week’s seventh most-selling NFT collection in the NFT market. In the past 24 hours, the Bored Ape has amassed a trading sales volume of $4.3 million. During this time, the Bored Ape NFT sales volume has plunged by 11% from the previous week.

8. Pudgy Penguins NFT Collection

Pudgy Penguins, a non-fungible token collection from the digital asset incubation studio Yuga Labs featuring a limited edition of 8,888 penguin cartoons hosted on the Ethereum blockchain network, has been this past week’s eighth most-traded NFT collection in the NFT market. In the past seven days, the Pudgy Penguins have recorded a trading sales volume of $4.08 million. The Pudgy Penguins NFT sales volume has surged by 45% from the previous week.

9. Bitcoin Puppets NFT Collection

Bitcoin Puppets, a non-fungible token collection featuring a limited set of 10,001 digital items created on the Bitcoin blockchain network using the popular Ordinal protocol, has been this past week’s ninth most-selling NFT collection. In the past seven days, the Bitcoin Puppets NFT has raised a sales volume of $3.7 million. During this time, the Bitcoin Puppets NFT sales volume has plunged by 38.77% from the previous week.

10. ZereBorn NFT Collection

ZereBorn, a non-fungible token collection featuring a limited set of 5,500 NFTs hosted on the Solana blockchain network, has been this week’s tenth most-selling NFT collection in the NFT market. In the past seven days, the ZereBorn NFT collection has recorded a trading sales volume of $2.9 million. During this period, the ZereBorn NFT trading sales volume has plunged by 34% from the previous week.

The NFT Market Prediction

The global non-fungible token market has been a rollercoaster ride in 2024, but the latest data signals the strong potential for a resurgence. Now that crypto-friendly President Donald Trump has been re-elected in the United States, the NFT space is set to rebound, driven by innovative applications and increased mainstream adoption, and possibly retest a bull run in the coming months.