The current data shows that sales of non-fungible tokens (NFTs), have declined by 29.35% in the last week. While Solana and Ethereum have the highest NFT volume, the sales of both Solana and Ethereum declined by 27% to 32% in the past seven days.
Weekly Non-Fungible Coin Sales Drop by Despite Recent Cryptopunk Sale of $23 Million
The volume of non-fungible tokens (NFT) sales is lower this week, despite Cryptopunk #5822 being sold for $23,000,000 worth 8,000 Ethereum. According to today’s statistics stemming from cryptoslam.io, during the last seven days, there’s been $628.2 million in NFT sales.
NFT sales declines across some of the highest leveraged blockchains supporting NFTs are responsible for the 29.35% drop. For instance, Ethereum’s weekly NFT sales volume dropped by 32.27% and Solana’s weekly sales volume dipped by 27.55%.
Ronin however saw NFTs sales grow over the last seven day, with the largest chain seeing a rise of 30.62%. NFT sales declined across the board in all of the four next largest blockchains.
Avalanche lost 6.62% in weekly NFT sales, Flow’s sales dipped by 38.84%, Wax blockchain sales dropped by 8.58%, and Polygon sales this week have slid by 37.29%. Cryptoslam.io’s data tallies up the total sales volume for 12 different blockchain networks that support NFT technology.
The Karafuru collection of NFT collectibles was the leader in terms of NFT collections by weekly volume. It had $49.7million of sales. The second-placed NFT collection this week was Cryptopunks, which had approximately $38.6million in NFT sales.
With $37 million of NFT volume, Azuki’s NFT collection ranked third over the past seven days. Cryptopunk #5822 sold the highest NFT for 8,000 Ether, while Meebit #16728, which cost $3.8 million, was second.
Statistics derived from dappradar.com’s NFT marketplace metrics indicate that the NFT market Looksrare has captured the most sales volume this week with $1.02 billion in sales volume. The volume of Looksrare has fallen 70% in the past seven days despite the $1 billion sales.
Opensea’s NFT marketplace sales are down 65.77% as the NFT market has captured $317.96 million in weekly sales. Solana’s Magic Eden saw $43.5 million in sales last week, down 33.72% from the week prior.
What do you think about this week’s NFT sales action and volume dropping close to 30%? Please comment below to let us know your thoughts on this topic.
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