NFT Sales Drop 59% in Second Week of 2023; Ethereum Dominates Top 20 Blockchains with 75% of Sales – Bitcoin News
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Non-fungible token (NFT) sales have dropped significantly compared to seven days, with NFT sales down 59.35% this week. Over the past seven days, $208.68 million in NFT sales were recorded, with $157.20 coming from the Ethereum blockchain. Last week’s best-selling NFT collection was Bored Ape Yacht Club (BAYC), which sold $16.69 million, representing 7.998% of this week’s $208 million.
Ethereum and Solana Lead NFT Sales Among Top 20 Blockchains Among Lower Digital Collectibles Sales This Week
In the first week of 2023, NFT sales increased by 26% compared to the last week of 2022. However, on Sunday 15 January 2023, sales fell by 59.35% from the previous week. Ethereum’s share of the top 20 blockchains issuing NFTs was 75.33% of the sales recorded between 01/08-15/2023.
Solana was the second largest in terms of NFT sales with 18.04% of the week’s total sales, or $37.66 million. Ethereum and Solana were followed by Immutable X, Binance Coin (BNB) and Cardano among the top five chains in this week’s NFT sales data.
The top five NFT collections this week in terms of total sales are Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, Art Blocks, and Bored Ape Kennel Club. These are followed by Otherdeed, Sorare, The Captainz, Beanz and Mutant Hound Collars.
According to data from nftpricefloor.com, the BAYC collection had the highest floor value measured in NFT floor values on Sunday, January 15, 2023. BAYC was followed by Cryptopunks, MAYC, Autoglyphs and The Sandbox. While BAYC bottomed at 70.408 ETH at the time of writing, Cryptopunks bottomed at 66.19 ETH on Sunday.
Last week’s NFT sales saw a flood of trading in the Mineablepunks collection, as the five most expensive NFTs sold were from that collection. This week, cryptoslam.io statistics show that the most expensive NFT sold was Cryptopunk #4,608, which sold five days ago for $329,000.
The second most expensive NFT sold in the last seven days was Cryptopunk #6,994, which sold three days ago for $283,000. The two most expensive NFTs sold this week were Otherdeed #89,263 and Bored Ape Yacht Club (BAYC) #7,576.
NFT collections with better sales this week than the previous week are Artblocks with sales up 62.94%, Mutant Ape Yacht Club (MAYC) up 8.10%, Otherdeed up 11.97% and Beanz up 32 .82%.
In terms of blockchains, Binance Coin (BNB) NFT sales increased by 62.20%, Flow increased by 77.99%, Immutable X increased by 8.51%, Solana increased by 3.11%, and Ronin increased by 84%. 75% in the last seven days. . Blockchains whose sales decreased from last week are Ethereum, Cardano, Wax, Algorand and Cronos.
What do you think is causing the decline in NFT sales this week, and do you think this trend will continue in the coming weeks? Share your thoughts in the comments below.
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