NFT Market Takes a Hit: Sales Plummet by 16.55% Amid Crypto Slump NFT enthusiasts had a bumpy ride this week as sales figures dropped by a significant 16.55%, leaving the market with a total of $358 million in transactions. It seems the
crypto downturn has cast its shadow on the digital art world too.
Ethereum, the go-to platform for NFTs, remained at the forefront with $129 million in sales. However, even Ethereum couldn't escape unscathed, witnessing a 20.98% decline compared to the previous week.
Bitcoin also saw its NFT sales take a hit, dropping by 20.44% to just over $124 million.
Meanwhile,
Solana experienced a milder dip of around 5%, amounting to $61.68 million in NFT sales.
Polygon and
BNB Chain managed to secure spots in the top five, but it was "Uncategorized Ordinals" that stole the show with an impressive $57 million in sales, marking a whopping 43% increase.
Notable mentions go to collections like
Bored Ape Yacht Club, which sailed away with over $13 million in sales, and rising stars like
Peplicator,
Nodemonkes, and
Mad Lads.
While there were some big-ticket items changing hands, such as the eye-popping sale of "Frxethredemptionticket #158" for a cool $842K, overall sales took a dip. Yet, there's a silver lining: the number of NFT buyers surged to an impressive 370,111 – a staggering 245% jump from last week.
