Weekly Roundup – Bitcoin News

by James · March 26, 2023

During the last week, statistics show that sales of non-fungible tokens (NFT) were $193.08 million, a decrease of 5.44% from the previous week. Ethereum dominated NFT sales with more than $107 million or 55% of all sales, while Solana-centric NFT sales recorded $26.3 million or 13% of sales during the same period.

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The NFT market is showing signs of decline with falling weekly sales and a lower 30-day total

Non-fungible token sales, or NFT sales, fell 5.44% this week compared to last week, with $193.08 million in sales recorded across 19 different blockchains. Cryptoslam.io statistics indicate that 30-day sales are generally down, with total sales at $912.54 million, more than 29% lower than last month. The top five blockchains in terms of NFT sales this week were Ethereum ($107M), Solana ($26M), Polygon ($6M), Immutable X ($5.3M) and Cardano ($3.16M dollars).

NFT Sales Fall 5.4% to $193M, Ethereum Dominates with $107M in Sales: Weekly Recap

Solana’s NFT sales increased by 37.16% this week, while Cardano’s NFT sales jumped 44.27% higher than last week. However, sales of Ethereum, Polygon, and Immutable X NFT were all losses compared to last week’s sales. Notable gains in terms of blockchain NFT sales include Arbitrum’s 64.49% increase and Avalanche’s 293% increase.

Palm blockchain sales increased by 370% and Algorand NFT sales rose 58% higher than last week. While Ethereum dominates NFT sales at 55%, 18 other blockchains represent 45% of the remaining sales. The top five NFT collections in the past week, with the most sales, were Cryptopunks, Bored Ape Yacht Club (BAYC), MG Land, Otherdeed and HV-MTL.

After these collections, the fifth to tenth top sellers were Degods, Y00ts, Sorare, Mutant Ape Yacht Club (MAYC), and Gods Unchained Cards. Cryptopunks recorded $12.55 million in sales this week, up 49.15% from last week. BAYC sales were about $10.14 million this week, up 43.52% higher, while MG Land captured $7.84 million, down 5.72% from last week.

In terms of the highest valued NFT sales this week, Otherdeed #2,118 was the most expensive, selling for $375,979 three days ago. Cryptopunks #6,036 sold for $365,508 two days ago, and Bored Ape Yacht Club (BAYC) #5,647 sold for $263,537 six days ago. Finally, Cryptopunk #2,353 sold for $217,454 two days ago, and Otherdeed #99,728 sold for $205,711 three days ago. While there were close to $1 billion in sales in the last 30 days, the number of NFT buyers increased 17.36% to 1,904,731 this month.

Tags in this story

Art, Auction, Blockchain, Blockchain Art, Bored Ape Yacht Club, Buyers, Cardano, collectibles, Cryptocurrencies, Cryptocurrency, cryptopunks, Decentralization, Degods, Digital Art, Digital Assets, Ethereum, Gods Unchained Cards, high-value, HV-MTL, market, Markets, MG Land, Mutant Ape Yacht Club, nft, NFTs, Non-fungible tokens, Otherdeed, Ownership, sales, Solana, Sorare, Statistics, technology, trends, Weekly Recap, weekly sales, Y00ts

What are your thoughts on the current state of the NFT market? Do you think the recent drop in sales is a temporary drop or a sign of a longer term trend? Share your opinions in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.