NFT Market Sees Over 30% Decline In Weekly Sales
From April 27 to May 4, 2024, non-fungible token (NFT) sales decreased by 30.16% compared to the previous week, with Bitcoin-based NFT sales totaling $56.81 million.
NFT buyers rose by 37.17%, while sellers increased by 31.1%. Among 22 blockchain networks, BTC-centric NFT transactions led with earnings of $56.81 million, while Ethereum-NFT transactions reached $49 million. Among other blockchain networks, Solana NFT transactions generated $25.61 million, a 23.85% decrease from last week. Polygon NFT earnings totaled $11.34 million, a 27.38% decline. Mythos Chain, ranking fifth in NFT sales, garnered $7.10 million, a 15.39% increase. Immutable X and BNB Chain sales also increased by 3.53% to 13.08%.
The leading NFT collection by sales volume was Uncategorized Ordinals from the Bitcoin blockchain, amassing $32.63 million, but its sales dropped 51.18%. Dmarket by Mythos secured second place with $6.94 million, up by 15.34%. Bored Ape Yacht Club (BAYC) followed with $4.33 million, a 41.36% decrease since April 27. The priciest NFT sold was Cryptopunk #7,846, fetching $557,803, followed by Cryptopunk #7,846, amouting to $256,550, and a Solana Boogle at $161,066.
(With inputs from Shikha Singh)
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