The NFT market continues to expertise a decline, with gross sales dropping 12% final week.
Recall gross sales plunged 16% through the earlier week.
In response to CryptoSlam, complete gross sales for the final seven days stood at just under $100 million and concerned over $785,000 consumers and sellers in 1.4 million transactions.
Ethereum leads the pack
Ethereum (ETH) was as soon as once more probably the most energetic blockchain for NFT gross sales, main the pack with $38.4 million value of transactions.
Notably, Ethereum skilled a surge in wash buying and selling final week, with cash earned from the exercise going up practically 9.5% to $37.69 million.
Polygon (MATIC) was one of many largest winners final week. Gross sales jumped 11.2% to push it previous the Bitcoin (BTC) community and into second place.
Curiously, wash buying and selling on the platform has saved on rising. Through the prior week, Polygon registered a 37.58% improve in wash buying and selling. This previous week, it went up 46% to $14.9 million, nearly double the quantity recorded beforehand.
Dropping to 3rd place when it comes to gross sales quantity, Bitcoin was one of many largest losers of the week. Its 40% drop in gross sales was solely higher than Fantom (FTM) and Blast (BLAST), which registered dips of 87% and 74%, respectively.
Wash buying and selling on the platform additionally went up practically 200%, though the $63,072 that resulted from the exercise is sort of negligible in comparison with Ethereum and Polygon.
Solana (SOL) maintained its place with the fourth-highest gross sales quantity of the week; nonetheless, final week’s fifth-placed community, Immutable (IMX), needed to drop to #6 after Mythos Chain (MYTH) overtook it with practically $4.5 million in gross sales.
Notable performances got here from the likes of Zora, BNB Chain, and Panini. Gross sales quantity on Zora went up greater than 50%, whereas Panini, which is residence to NFT sports activities buying and selling playing cards, recorded a 22% soar to earn $135,000.
Main NFT assortment
Amongst NFT collections, apart from Mythos’ DMarket, all NFT collections that topped the gross sales chart within the earlier week have been nowhere to be seen. As a substitute, CryptoPunks made a comeback, registering a large 155% soar in gross sales quantity to make $5.26 million and turn into the top-selling NFT assortment of the week.
Subsequent was the aforementioned DMarket, which, regardless of a 9.21% dip in gross sales, nonetheless managed to earn north of $4 million.
Bored Ape Yacht Membership (BAYC), one other fashionable NFT assortment constructed on Ethereum, managed to take the #3 spot after concluding 113 transactions that yielded practically $3.5 million. The quantity was spectacular because it represented a 73.66% development over the earlier week’s gross sales.
Different collections that did nicely over the past week have been Ethereum’s Pudgy Penguins and Solana’s DogeZuki Assortment, which raked in $3.69 million and $2.43 million, respectively.
High-selling NFTs of the week
When it comes to particular person items, the most costly NFT of the week got here from Ethereum. Nonetheless, its $204,066 price ticket pales compared to the earlier week’s winner, which modified palms for $587,194.
In second place was a Bitcoin Ordinal that offered for $113,465, solely $2,548 greater than Mad Lads #4575 from Solana, which got here in third.
With two main worldwide soccer tournaments happening in Europe and the Americas, fan token gross sales surged tremendously final week.
As will be seen within the desk above, the Galatasaray (GAL) fan token recorded the very best gross sales quantity, leaping an unbelievable 70,149% to $280.5 million as Turkey overcame Georgia of their first match of Euro 2024.
The token value can also be up 2,542% and is presently priced at $2.87 per unit. Gross sales of FC Barcelona, PSG, and Juventus fan tokens additionally went up between 22,903% and eight,670% as Spain, France, and Italy began their Euro 2024 campaigns efficiently.