Over the past week, non-fungible token (NFT) sales have fallen 11.66%, totaling $81.7 million. Despite this decline, there has been a significant increase in market activity: the number of NFT buyers has skyrocketed by 172.98%, while NFT sellers have also seen an impressive increase of 120.51% over the same period.
Chaos in the NFT market: Prices drop, but buyer interest skyrockets
Although the number of buyers and sellers is increasing, they are not spending a lot of money on NFTs compared to the prices of a few months ago. Total sales are down 11.66% from the previous week, with Ethereum leading the NFT sales this week.
ETH-based NFTs generated $28.2 million, although this is down 9.49% from last week. Solana followed with $16.37 million in NFT sales, down 15%. Bitcoin-based NFTs took third place, raising $13.88 million, although revenue fell 5.7%.
This week’s top NFT collection, Mythos’ Dmarket, retained its crown, posting sales of just over $5 million despite falling more than 31%. Sorare took second place with sales of $3.6 million, reflecting an increase of 8.88% from the previous week.
Guild of Guardians came in third with $3.5 million, a slight decline of 1.84%. Bitcoin’s Uncategorized Ordinals collection took fourth place, posting $3.1 million, a staggering 790% increase.
The most expensive NFT sale of the week was an Uncategorized Ordinal, which raised $2.4 million just 18 hours ago. Ethereum’s Bored Ape Yacht Club NFT #2,579 sold for $342,542 two days ago, while BNB’s Paraluni Perpetual Bond #841 sold for $134,751 three days ago.
Solana’s Frogana #4559 was the fourth most expensive, selling for $82,689 about six days ago, according to cryptoslam.io’s NFT market data. While NFT buyers and sellers are rising, NFT transactions are down, down 10.5% from last week at 1,669,180.
