The NFT market continues to expertise a decline, with sales dropping 12% final week.
Recall sales plunged 16% through the earlier week.
In line with CryptoSlam, complete sales for the final seven days stood at slightly below $100 million and concerned over $785,000 patrons and sellers in 1.4 million transactions.
Ethereum leads the pack
Ethereum (ETH) was once again probably the most lively blockchain for NFT sales, main the pack with $38.4 million price 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. 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. Throughout 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 sales quantity, Bitcoin was one of many largest losers of the week. Its 40% drop in 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 nearly negligible in comparison with Ethereum and Polygon.
Solana (SOL) maintained its place with the fourth-highest 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 sales.
Notable performances got here from the likes of Zora, BNB Chain, and Panini. 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 sales chart within the earlier week had been nowhere to be seen. As a substitute, CryptoPunks made a comeback, registering a large 155% bounce in sales quantity to make $5.26 million and develop into the top-selling NFT assortment of the week.
Subsequent was the aforementioned DMarket, which, regardless of a 9.21% dip in sales, nonetheless managed to earn north of $4 million.
Bored Ape Yacht Membership (BAYC), one other widespread 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 sales.
Different collections that did properly 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.
High-selling NFTs of the week
By way of particular person items, the costliest NFT of the week got here from Ethereum. Nonetheless, its $204,066 price ticket 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 sales surged drastically final week.
As will be seen within the desk above, the Galatasaray (GAL) fan token recorded the best sales quantity, leaping an unimaginable 70,149% to $280.5 million as Turkey overcame Georgia of their first match of Euro 2024.
The token worth can also be up 2,542% and is presently priced at $2.87 per unit. 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.