The downward trend in non-fungible token (NFT) sales persisted over the past week, with sales volume experiencing a further week-on-week decrease of 13.72%. This marks the fourth consecutive week of declining NFT sales, standing in stark contrast to the record-breaking achievements witnessed in other sectors throughout March. Despite the splendor of trading volumes in cryptocurrency exchanges, the same fervor did not extend to digital collectibles.
Between March 29th and April 5th, 2024, six leading blockchains in NFT sales posted weekly downturns, contributing to the overall decline in the market. Bitcoin-centric NFT sales, despite amassing $66.67 million, witnessed a significant 17.99% drop from the previous week's figures.
Ethereum, securing the runner-up spot with $63.98 million in sales, experienced an 8.89% decrease. Solana followed with a 12.70% reduction, while Mythos and Polygon saw declines of 4.36% and 19.7%, respectively.
In terms of NFT collections, Uncategorized Ordinals led the pack, amassing $21.11 million in sales, while the Bored Ape Yacht Club (BAYC) collection claimed the second-highest volume for the week at $6.68 million, according to stats from cryptoslam.io.
Among individual NFT collections, the Dmarket collection from Mythos notched $6.63 million in sales, closely followed by Bitcoin's Nodemonkes at $6.3 million. Mad Lads fetched $5.52 million, despite experiencing a 27% decrease from the previous week.
The highest-priced NFT sold during the week was a BNB Lockdeal digital collectible, fetching $651,963. Additionally, BAYC #591 was acquired for $301,563, while Bitcoin Shroom #173 was purchased for $216,657 approximately five days ago.
Despite the ongoing decline in NFT sales, the market remains dynamic and continues to attract interest from collectors and investors alike. As the landscape evolves, it will be intriguing to observe how trends and sentiments shift within the NFT space in the coming weeks and months.
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