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Home NFT

NFT sales drop 16%, hover just below $122m

June 17, 2024
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NFT sales drop 16%, hover just below $122m
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This week marked a significant downturn for the non-fungible token (NFT) market, which saw sales drop by almost 16% off the back of a 17% surge in the previous week.

READ ALSO

Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

CryptoPunks and Pudgy Penguins Draw Major Sales

Per CryptoSlam, total sales hit $121.7 million, with more than 519,000 buyers and sellers actively trading.

Blockchain NFT sales breakdown

The Ethereum (ETH) network led the charge with $39.28 million in sales, a notable 14.48% increase from the previous week.

This surge was accompanied by a marked increase in the number of active buyers on Ethereum’s NFT space, with the number going up nearly 48% to reach 23,586. The network also saw an increase in wash trading, up 35.49% to over $34 million.

Bitcoin (BTC), which was the busiest network in terms of sales in the previous week, dropped to second place this week, with about $26.5 million in sales, representing a 45.60 drop. Bitcoin recorded over 18,000 active buyers, which was a whopping 804% increase from last week. Wash trading on the network decreased by about 53%, settling at $20,030.

After a 22% boost in sales in the previous week, this week saw Polygon (MATIC) shave nearly 5.5% off its weekly sales volume to settle at $18.43 million. Solana (SOL) stayed in fourth with $14.631 million in sales, an 18.18% decrease. On its part, Immutable X (IMX) saw a surge, with sales increasing by 9.40%.

Top NFT sales

The highest sale of the week was from the Ethereum blockchain, with an NFT selling for $587,194. A Bitcoin Ordinal, Protoshroom #6, changed hands for $237,373, while a Polygon TTAvatars #128003 fetched $100,500.

See also  7-Day NFT Sales Increase by 37%, Bitcoin-Based Collections Lead

Solana’s DeezNode #052 sold for $77,839, edging out a BNB NFT, Ape Treasury Bill V2 V3 #12668, which sold for $31,516.

Among collections, Immutable’s Guild of Guardians Avatars had the highest sales volume of the last seven days, raking in more than $8.1 million in 1,614 transactions.

Bitcoin’s PIZZA NFTs followed, generating $7.3 million, which was a drastic 60% reduction on its numbers from the previous week.

A new entrant in the top five collections ranked by sales volume was the Ethereum Name Service (ENS), which secured third spot with more than $5.3 million worth of NFTs sold. The figure represented an incredible 1022% jump, with the money coming from just 295 buyers.

The DMarket collection on Mythos earned $4.6 million from nearly 190,000 transactions, while Bitcoin Puppets from the Bitcoin network earned the #5 spot with about $2.7 million in sales.

Tags: 122mDrophoverNFTSales

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Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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Ethereum Card Battler ‘Cross the Ages’ Launches CTA Token, Raises $3.5 Million

Ethereum Card Battler ‘Cross the Ages’ Launches CTA Token, Raises $3.5 Million

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