As a seasoned crypto investor with a knack for NFTs, I must say that the recent 4.2% dip in sales volume is a temporary hiccup in the grand scheme of things. The surge in NFT buyers by 132% is a clear testament to the growing interest and adoption of this burgeoning market.
The non-fungible token market has experienced a 4.2% drop in sales volume in the last seven days.
Following the notable growth of 7.68% in NFT sales, as detailed in our previous weekly analysis, fresh figures from Cryptoslam reveal a significant decrease, with the total NFT sales volume for the past week amounting to approximately $73.75 million.
The numbers are down by 4.2% considering the $109 million sales volume in the week prior.
Despite NFT sales dropping into the tens, there’s been an impressive 132% increase in new NFT purchasers according to Cryptoslam data. The number of buyers reached 521,640 compared to sellers who numbered 270,413.
Over the past week, there’s been a notable decrease of approximately 26% in NFT transactions, with the number dropping to 1,217,967. In this timeframe, let’s delve into the blockchains that were most active.
Ethereum and Solana top the list
Over the past week, I’ve noticed that Ethereum (ETH) has held onto its top spot with approximately $23.9 million worth of NFT sales. Yet, there’s been a noticeable dip of around 9.6% in sales compared to the previous week. It’s intriguing to note that roughly 12.24% of these sales can be attributed to wash trading activities on the network.
In a recent turn of events, Solana (SOL) has moved into second place in terms of sales, boasting approximately $16 million. Following closely behind are Bitcoin (BTC), Polygon (POL), and Binance Coin (BNB), which recorded sales of around $13 million, $7.5 million, and $3.3 million respectively.
In contrast, wash trading occurred the least on the BNB network, whereas it was observed at 6.41% on Solana and 4.54% on Bitcoin.
The data from Cryptoslam indicates a significant increase in the volume of NFT sales. This surge was particularly noticeable on the Solana network, with a rise of 17.89%, and also on the Polygon network, where it increased by an impressive 51.3%.
Guild of Guardians Heroes stands as the top collection
In a notable achievement, the NFT collection from Guild of Guardians, operating on the Immutable-Zk platform, claimed the top spot with the largest sales volume. This impressive collection managed to generate a total sales volume of approximately $2.86 million through 5,786 separate transactions.
Following closely, the DogeZuki Collection on the Solana platform secured a runner-up spot, recording sales of approximately $2.4 million across 61,447 transactions last week. Much like the week prior, DogeZuki has maintained its solid performance.
In third place, with sales amounting to $2.368 million, is Sorare – an NFT collection on the Ethereum blockchain. This collection saw a grand total of 108,690 transactions.
Instead of CryptoPunks, there were 25 transactions totaling $2.2 million, placing it as the fourth highest in terms of sales volume. Meanwhile, DMarket on the Mythos blockchain ranks fifth with a sales volume of $2.1 million and 80,713 transactions.
Top NFT collectible sales
Here are a few notable instances where valuable NFT collectibles were sold, even amidst the unpredictable fluctuations in the cryptocurrency market.
- CryptoPunks #1219 sold for $308,316.94 (130 ETH).
Autoglyphs #337 sold for $223,153.25 (87.6692 WETH).
Autoglyphs #337 sold for $171,000.00 (171000 USDC).
Known Origin #22001 sold for $140,695.52 (55 WETH).
Autoglyphs #281 sold for $129,684.88 (51 WETH).
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2024-09-22 19:44