As a seasoned crypto investor with over a decade of experience in this dynamic market, I must say that the recent dip in NFT sales volume has not alarmed me but rather provided an opportunity to scoop up some undervalued gems. The last seven days have demonstrated that the NFT market is cyclical and subject to fluctuations, much like the crypto market itself.
Over the past week, there’s been a 4.16% decrease in sales volume for the Non-Fungible Token (NFT) market.
Here’s a breakdown of the latest data from Cryptoslam:
- NFT sales volume dropped in the last seven days and stands at $77.6 million — lower than weekly NFT sales in the previous week.
- NFT buyers dropped by a considerable 66.81% to 263,804 from last week’s 794,763
- NFT sellers fell to 121,399, depicting a 67.87% drop.
- NFT transactions were down by over 13.78% in the last seven days to 1,662,101.
Bitcoin leads the blockchains in seven-day surge
Now, let’s take a look at the blockchains that have reigned supreme during this period.
Among all cryptocurrencies, Ethereum (ETH) leads in total sales volume. Interestingly, the Bitcoin (BTC) network saw an impressive 23.11% increase in trading volume over the past week.
The numbers, which stand at $15.6 million, are considerably higher than last week’s $1.7 million.
It’s evident that Ethereum leads the pack when it comes to Non-Fungible Token (NFT) sales volume, with a remarkable sum of approximately $26.5 million. However, it’s important to note that about $2.7 million of this total figure is attributed to wash trading.
The number of Ethereum NFT buyers dropped by 52% and stood at 26,673.
Bitcoin bagged the second place with $15.6 million in total sales.
Solana ranks third in sales, bringing in approximately $10.5 million. Mythos Chain, Polygon, and Binance Coin followed closely behind with around $8.3 million, $5.3 million, and $3.2 million in sales respectively.
As a crypto investor, I noticed that Solana had an impressive 60,115 new buyers this week, which is reminiscent of the figures we saw last week. Yet, it’s important to note that this number pales in comparison to the staggering 393,044 buyers we witnessed last week.
DMarket still holds its first position
Once again, similar to the previous week, DMarket leads as the top-selling NFT collection over the past seven days. This impressive achievement was made through a staggering 342,900 transactions, totaling an impressive $8.02 million in sales.
In the rankings, Guild of Guardians Heroes comes second with earnings of $3.02 million. However, CryptoPunks lost its third position to Bitcoin Puppets, which saw a significant increase of 59.2% in sales over the past week, totaling $2.97 million.
Coming to the top NFT collectible sales, below are the top NFT sales from the last seven days:
- Bored Ape Yacht Club #7940 sold for $1,433,582 (588ETH).
Axie Infinity sold for $79,729 (32.6 ETH).
Known Origin #33608 sold for $73,160 (30 WETH).
CryptoPunks #7476 sold for $70,728 (28.99 ETH).
CryptoPunks #3654 sold for $69,672 (28.5 ETH).
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2024-10-12 15:58