The NFT market continues to expertise a decline, with gross sales dropping 12% final week.
Recall gross sales plunged 16% throughout 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 lively 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 almost 9.5% to $37.69 million.
Polygon (MATIC) was one of many greatest 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% enhance 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 greatest 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 almost 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 almost $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 dwelling to NFT sports activities buying and selling playing cards, recorded a 22% bounce 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 had been nowhere to be seen. As an alternative, CryptoPunks made a comeback, registering a large 155% bounce in gross sales quantity to make $5.26 million and turn out to be 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 common NFT assortment constructed on Ethereum, managed to take the #3 spot after concluding 113 transactions that yielded almost $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 effectively during the last week had been Ethereum’s Pudgy Penguins and Solana’s DogeZuki Assortment, which raked in $3.69 million and $2.43 million, respectively.
Prime-selling NFTs of the week
When it comes to particular person items, the costliest NFT of the week got here from Ethereum. Nonetheless, its $204,066 price tag pales compared to the earlier week’s winner, which modified fingers for $587,194.
In second place was a Bitcoin Ordinal that bought for $113,465, solely $2,548 greater than Mad Lads #4575 from Solana, which got here in third.
With two main worldwide soccer tournaments going down in Europe and the Americas, fan token gross sales surged enormously final week.
As might be seen within the desk above, the Galatasaray (GAL) fan token recorded the 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 price can also be up 2,542% and is at the moment 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.