Digital currencies have suffered in the past month. However, sales of non-fungible tokens (NFT) dropped 74.44% over the last 30 Days. The data shows that NFT sales fell 17.33% in the past seven days compared to the previous week. NFT floor values for popular collections have rebounded this week in terms of ethereum value, but with ether’s exchange rate so low, blue chip NFTs are selling for a lot less than they did last month.
NFT Sales continue to sink, data shows
NFT sales and interest are lagging, in line with the bearish crypto market. Google Trends (GT) worldwide data shows that this week the search term “NFT” has a score of 21 out of 100. The last time the search term “NFT” saw a GT score of 100 was the week of January 16-22, 2022. Cryptoslam.io has recorded $1.07 Billion in NFT sales over the past month. This is a drastic drop from $4.18BILLION last month.
This past week’s NFT sales across 18 different blockchains saw approximately $184,417,851 in sales, but that’s 17.33% lower than the $223,085,710 recorded the week prior. The Ethereum blockchain network accounted for $151 million in NFTs this past week, but ETH-based NFTs sales dropped by more than 18%. The monthly ETH-based NFTs sales have fallen 76.38%.
Solana topped the sales charts this week, with $22.31,000,000 sold. This is 3.56% more than the week prior. Binance Smart Chain, (BSC), was the third-largest in terms of sales at $3.16 million. But BSC-based NFTs sales dropped 32.45% last week.
Bored Ape Yacht Club, (BAYC), is the NFT collection currently with the highest floor price. The floor value at 90 ETH is currently the current floor value. The BAYC floor price was 95.5 Ethereum 30 days prior, which is roughly the same as the ether price. The difference is that 95.5 Ethereum was worth $204K last month, and 90 Ethereum today is about $97K.
Over the past 24 hour, Cryptopunks NFT floor value jumped 40% to $66.55 ETH. The Cryptopunks floor value 30 days ago was 51.9 ETH worth $111K and today’s 66.65 ETH floor is worth $71K.
This past month, the most costly NFT sale was BAYC 7,537. It sold for 1,024 Ethereum five days earlier. BAYC 7,537 followed by Otherdeed 90.209, which was sold for 235 Ethereum or $465K. This month’s top 40 NFTs were only from three collections: BAYC and Cryptopunks.
BAYC 7,537 occupied the first position for this week and the month. However, Cryptopunk 2,964 was the second-most expensive NFT sale of the past seven days. It sold 444 Ethereum or $440K.
How has the crypto bear market impacted the NFT sector? What did you think of the NFT market’s sales in the past month? Please comment below to let us know your thoughts on this topic.
Images CreditsShutterstock. Pixabay. Wiki Commons. Photo contributor Mundissima/ Shutterstock
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