NFT Market Dips by 6% but Solana Continues to Dominate for Another Week

Despite Slight Recent Uptick in Crypto Market, NFT Sales Suffer Amidst Continuous Fluctuations, with Solana Maintaining its Position at the Top

"NFT Market Dips by 6% but Solana Continues to Dominate for Another Week"

Key Points

Despite recent mild positive signs in the crypto market, all gains have vanished.

Data from CoinMarketCap shows that the global crypto market cap has fallen by 1.39% to $2.31 trillion.

NFT Sales Volume Decline

Last week, the NFT sales volume was $89.1 million. However, recent data from CryptoSlam indicates a 6% slump in NFT sales volume, bringing it down to $84.6 million.

The Ethereum (ETH) blockchain retains its top position with $28.3 million in sales, while Solana (SOL) holds its second rank for the second consecutive week.

Interestingly, the number of NFT buyers rose by 21%, and the number of NFT sellers increased by 30% from last week’s 385,184.

Ethereum NFT Sales Experience Drop

The Ethereum NFT blockchain sales volume was at $31.1 million last week. However, the latest data shows a drop below the $30 million mark to $28.3 million.

This week’s sales are comparatively lower, with a 6.6% drop in the last seven days.

Despite the drop in sales, the number of NFT buyers on the Ethereum blockchain rose by 17.4% to 56,021.

Solana, despite a 11.3% drop in the last seven days, retains its second-place ranking.

Solana blockchain’s NFT volume is at $16.1 million, with the number of NFT buyers increasing by 27.7% to 385,272.

Bitcoin (BTC) showed the smallest sales drop, with a 2.78% loss, standing at $14.12 million.

Mythos Chain (MYTH) is in the fourth position at $10.9 million, with a 6.65% drop over the last seven days.

Immutable (IMX) earned the fifth place, showing a modest 6.2% drop in NFT sales volume. Ethereum accounted for the majority of wash trading at $3.66 million.

DMarket Retains First Ranking

DMarket’s sales volume was at $5.744 million, with an 11.62% drop during this period.

Guild of Guardians Heroes 2 secured the second place with $3.28 million in sales.

The most recent data shows that the following NFT collections topped the sales last week: Wrapped Ether Rock #91 sold for 120,000 USDC, Wrapped Ether Rock #59 sold for 119,000 USDC, CryptoPunks #705 sold for 30.5 ETH, Sorare #23580937173 sold for 21.888 ETH, and ART BLOCK #9 sold for 0.7839 BTC.

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