NFT Sales Volume Drops 4.2% Despite 132% Surge in Buyers

The non-fungible token market has experienced a 4.2% drop in sales volume in the last seven days. This drop comes after a decent surge of 7.68%

NFT sales volume dropped 4.2% in the last seven days to reach $73.75 million, as reported by Cryptoslam. This follows a 7.68% increase in the previous week.

Despite the decline in sales volume, the number of NFT buyers surged by 132% to reach 521,640 during this period, while sellers numbered 270,413.

Interestingly, NFT transactions also decreased by over 26% to reach 1,217,967 in the last seven days.

A closer examination of the blockchains reveals that Ethereum (ETH) maintained the top ranking with $23.9 million in NFT sales. However, the network experienced a drop of over 9.6% in sales compared to the previous week. Notably, 12.24% of the sales were attributed to wash trading.

Solana (SOL) took over the second position with $16 million in sales, while Bitcoin (BTC), Polygon (POL) and Binance Coin (BNB) followed closely with $13 million, $7.5 million and $3.3 million in sales, respectively.

Wash trading was minimal on the BNB network, while Solana and Bitcoin recorded 6.41% and 4.54%, respectively.

According to Cryptoslam data, NFT sales volume increased on the Solana network by 17.89% and on Polygon by 51.3%.

Among the NFT collections, Guild of Guardians on the Immutable-Zk chain achieved the highest sales volume, clocking in at $2.86 million across 5786 transactions.

The DogeZuki Collection on Solana came in second with $2.4 million in sales, boasting 61,447 transactions and maintaining its strong presence from the previous week.

Sorare on the Ethereum blockchain took third place with $2.368 million in sales over 108,690 transactions.

CryptoPunks recorded 25 transactions with a sales volume of $2.2 million, ranking fourth on the list. Finally, DMarket on the Mythos blockchain completed the top five with $2.1 million in sales across 80,713 transactions.

These are some of the top NFT collectible sales that occurred during this period, despite the overall downturn in the crypto market.

The above is the detailed content of NFT Sales Volume Drops 4.2% Despite 132% Surge in Buyers. For more information, please follow other related articles on the PHP Chinese website!