In the midst of a turbulent week for the crypto market, non-fungible token (NFT) sales have shown resilience, experiencing a surge of 7.74% in weekly sales, totaling $181.82 million. Data also reveals that there has been an increase of 41% in NFT buyers over the course of the week, surpassing the number of buyers recorded in the previous week.
Despite Crypto Market Drop, NFT Sales Increase by Nearly 8%
Of the total sales this week, the Ethereum (ETH) blockchain contributed a significant portion, amounting to $124.7 million, while $22.66 million came from the Solana (SOL) blockchain. While ETH-based NFT sales experienced a slight drop of 1.75%, SOL-based NFT sales swelled by 88.19%, according to cryptoslam.io metrics. The top five chains which recorded the highest NFT sales over the last seven days include ETH, SOL, MATIC, BNB, and Immutable X.
Bored Ape Yacht Club (BAYC) emerged as the top-performing NFT collection this week, with sales reaching $16.38 million. BAYC sales rose by 64.07% over the past seven days, leading the pack of the top eight NFT collections for the week. Mad Lads ($8.4M), Azuki ($7.5M), Mutant Ape Yacht Club ($4.97M), and the Captainz ($4.84M) followed closely in terms of sales, with Blocklords Banners ($3.8M), The Heist NFT compilation ($4.5M), and Trump’s Digital Trading Cards (series 2) ($3.33M) rounding out the list.
The highest-valued individual NFT sale this week was Cryptopunk #2,356, which fetched $380,483 five days ago, followed by Azuki #6,954, which sold for $358,249 four days ago. Autoglyphs #145 secured the third highest sale, selling for $286,709, followed by Azuki #5,523, which was sold for $253,464. Vethena #9,130 took the fifth spot, selling for $223,161 three days ago.
According to statistics from nftpricefloor.com, the Cryptopunk collection continues to dominate the NFT market, with the highest floor value followed closely by Bored Ape Yacht Club. Mutant Ape Yacht Club, Azuki, and Otherdeeds follow closely behind. Notable NFT collections that have experienced a double-digit floor rise include BAYC, MAYC, Autoglyphs, and the Captainz.
What do you think the future holds for non-fungible tokens? Will they continue to thrive amidst crypto market volatility or face challenges in the near future? Share your thoughts about this subject in the comments section below.
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Author: Jamie Redman