NFTs Can’t Catch a Break as Protracted Drop in Sales Continues

For the seventh week straight, non-fungible token (NFT) income person slipped further. In the past week alone, NFT transactions totaled $66.11 million, marking an 11.65% diminution from the erstwhile week.

NFT Sales Bleed Out: The Unrelenting Seven-Week Descent

Although the broader crypto marketplace experienced immoderate uplift, NFT income didn’t reflector this affirmative trend. Week aft week for the past 7 weeks, NFT income volumes person been plunging.

Despite this week’s income being 11.65% little than the erstwhile week, there’s a metallic lining: the number of NFT purchasers surged by 17.77%, portion the tally of sellers jumped by 15.82%. Data sourced from cryptoslam.io reveals that NFT income connected the Ethereum level took the lion’s share, accounting for $38.10 cardinal of the week’s turnover.

This indicates that 57.63% of each NFTs sold implicit the week were Ethereum-based. However, income of ETH-based NFTs dipped somewhat by 0.84% this week. In the rankings, Mythos NFT transactions clinched 2nd place, amassing $8.79 cardinal — an uptick of 12.29% from past week.

Solana rounded retired the apical three, signaling income of $6.86 million, a emergence of 8.87% for the week. Topping this week’s NFT income charts, the Mythos-linked Dmarket postulation clinched $8.72 million, marking a 12.32% increase. Hot connected its heels was Bored Ape Yacht Club (BAYC) with $4.13 million, rising by 25.18%.

Meanwhile, Polygon’s Draftkings took the 3rd spot, raking successful $3.28 million, though it faced a dip of 18.24%. Sorare followed closely, garnering $2.87 cardinal — a 3.87% upswing. Cryptopunks wasn’t acold behind, amassing $2.79 million, a staggering hike of 61.41% from the erstwhile week.

The standout merchantability of the week was Cryptopunk #2367, fetching a chill $143,062 conscionable 3 days ago. BNB’s Starcraft Planets #1498 was auctioned disconnected astatine $32,880 simply 24 hours ago, and Bitcoin’s Ordinal Maxibiz commanded a terms of $30,646 connected Magic Eden 3 days back.

In a notable and akin trend, today’s blue-chip NFT collectibles experienced a marked driblet successful level prices. Cryptopunks are down to 45 ether, and BAYC NFTs plummeted to 26.30 ether, according to nftpricefloor.com. This dip is reflective of a broader downtrend seen crossed the blue-chip integer collectible marketplace values.

What bash you deliberation astir the past 7 days of NFT sales? Share your thoughts and opinions astir this taxable successful the comments conception below.