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The non-fungible token market has suffered a brutal collapse in recent weeks, with the majority of bottom prices falling below 20 ether, a 90% drop from their all-time high in 2022. The NFT market is showing a downward trend, despite its fellow crypto market being ongoing. the rally, which contradicts the initial bull run. However, the number of investors buying NFTs is up 25% this week compared to last week.
The state of NFTs over the past 7 days
Data retrieved by CryptoSlam.io, an on-chain market data aggregator, indicates that global sales volume of non-fungible token trading has fallen again for the fourth consecutive week. Over the past seven days, the NFT market has reached $231 million in sales volume, marking a 17% decline from the previous week.
Source: Cryptoslam.io, NFT sales in the last 7 days
During this period, the number of investors buying and selling non-fungible token collections has increased this week. Over the past seven days, NFT buyers have increased 25% to 690,198, while NFT sellers have increased 21.78% to 456,023. These trading activities increased the number of NFT transactions by 12.65% to 1.8 million.
Bitcoin, the same blockchain network that powers the flagship crypto Bitcoin, is the most traded blockchain network in the non-fungible token market. Over the past seven days, the Bitcoin-based NFT collection has amassed a trade sales volume of $81 million. Bitcoin NFT sales are down 7.73% over the past week.
Source: CryptoSlam.io, NFT sales by blockchain networks
Ethereum, the blockchain network that hosts most of the non-fungible token collections, is the second most traded blockchain network in the NFT ecosystem this week. In the past seven days, the Ethereum-based NFT collection has registered a sales volume of $72 million. Ethereum NFT sales volume has fallen 28% in the past week.
Solana, a decentralized blockchain network, and Polygon, an Ethereum scaling solution, are the third and fourth most traded blockchain networks in the NFT ecosystem. Over the past seven days, Solana-based NFT collections have registered a trade sales volume of $46 million. Solana NFT sales are down 14%. During this time, Polygon NFTs have amassed a sales volume of $7.4 million.
10 Best Selling NFT Collections This Week
Source: CryptoSlam.io, top selling NFTs in the last 7 days
1. Bitcoin ordinal collection
Bitcoin Ordinal, a non-fungible token collection created on the Bitcoin blockchain network using Satoshi Nakamoto’s Ordinal protocol, is this week’s top-selling NFT collection. In the last seven days, the Bitcoin Ordinal collection has amassed a sales volume of $20 million.
2. $?? BRC-20 NFT Collection
The Question??, a non-fungible token collection created on the Bitcoin blockchain network using a BRC-20 token standard protocol, is this week’s second best-selling NFT collection. In the past seven days, the ?? The BRC-20 NFT collection has registered a trade sales volume of $12 million. Trade sales volume has increased by 788% in the past week.
3. Mad Lads NFT Collection
Mad Lads, a non-fungible token collection from the Solana development project Coral with a limited edition of 10,000 hosted on the Solana blockchain network, is this week’s third best-selling NFT collection. Over the past seven days, the Mad Lads NFT collection has registered a sales volume of $7.7 million. Mad Lads NFT sales volume is down 22% in the past week.
4. $JIGO BRC-20 NFT Collection
The $JIGO, a non-fungible token collection created on the Bitcoin blockchain network using a BRC-20 token standard protocol, is the fourth best-selling NFT collection this week. In the past seven days, the $JIGO BRC-20 NFT collection has registered a sales volume of $7.5 million. Trade sales volume for $JIGO NFTs has increased 295% in the past week.
5. DMarket NFT Collection
DMarket, a non-fungible token collection from DMarket, a digital marketplace platform that allows millions of gamers and esports fans to trade virtual in-game items using a comprehensive suite of advanced gaming technology and fintech features, is this week’s fifth most sold NFT. collection. Over the past seven days, the NFT collection has recorded a trade sales volume of $6.9 million.
Source: CryptoSlam.io, top selling NFTs in the last 7 days
6. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, an all-time best-selling NFT collection from digital asset firm Yuga Labs with a limited supply of 10,000 monkeys hosted on the Ethereum blockchain network, is this week’s sixth best-selling NFT collection. Over the past seven days, the Bored Ape Yacht Club NFT collection has attracted $6.8 million in trading volume.
7. NodeMonkes NFT Collection
NodeMonkes, an NFT collection with a limited supply of 10,000 pixelated NFTs hosted on the Bitcoin blockchain network, is the seventh best-selling NFT collection this week. Over the past seven days, the NodeMonkes NFT collection has generated a trade sales volume of $6.2 million.
8. Froganas NFT Collection
Froganas, a non-fungible token collection with a limited set of 5,555 unique frog-themed digital collectibles built on the Solana blockchain network, is this week’s eighth best-selling NFT collection. Over the past seven days, the Froganas NFT collection has amassed a trade sales volume of $4.9 million.
9. God’s Unchained NFT Collection
Gods Unchained, a non-fungible token collection hosted on the Immutable In the last seven days, the Gods Unchained NFT collection has attracted a trade sales volume of $4 million.
10. Pandora NFT Collection
The Pandora, an NFT collection of 10,000 replicants tied to the first tokens built on ERC404, an experimental token standard that enables persistent liquidity and semi-fungibility for Ethereum NFTs, is this week’s tenth best-selling NFT collection. Over the past seven days, the Pandora NFT Collection has recorded a trade sales volume of $3.8 million, closing out our top ten best-selling NFTs.
Top NFT sales this week
Source: CryptoSlam.io, top nft sales in the last 7 days
Arcade.xyz is the most expensive non-fungible token sold this week, selling for $346,089 just four days ago. A Bitcoin Ordinal collection is the second most expensive NFT collection this week, selling for $276,665 seven days ago. The TurboVerse #3174 is the third most expensive NFT sold this week, selling for $245,587.
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