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In the wake of flagship cryptocurrency Bitcoin’s recent new all-time high, crypto market bullish sentiment has shifted from initially hyped non-fungible token collections to other cryptoassets, memecoins, with several new and old coins pumping 100x or more in a matter of weeks.
The cryptocurrency market retested the bull run earlier this month and left the flagship cryptocurrency, Bitcoin, hitting new records above 73,000 for the first time in cryptocurrency history. Unfortunately, the cryptocurrency market craze has left the NFT market underperforming after collectors took some attention away from the sector. In this article, we will evaluate whether the NFT market will test its revival again.
NFT Sales Dropped 30 Last Week
Data obtained by cryptoslam.io, an on-chain market data aggregator, shows that the global non-fungible token market lost traction last week and its trading sales volume fell slightly. In the last seven days, the NFT market has accumulated a sales volume of $247 million, which represents a 30% drop from the previous week.
However, the number of collectors trading non-fungible token collections recorded positive growth last week. In the last seven days, the number of collectors who bought NFTs increased 34% to 579,726, while those who sold NFTs increased 33% to 386,314. Almost 1.7 million NFT transactions were settled in the NFT market.
Ethereum, the blockchain network recognized for hosting most of the top-line non-fungible token collection, was the most traded blockchain network last week in the NFT ecosystem. In the last seven days, the Ethereum-based NFT collection has recorded a trading volume of $93 million. Ethereum NFT sales volume fell 16% from the previous week.
Bitcoin, the blockchain network recognized in the NFT market for hosting the once-hyped BRC-20 and Bitcoin Ordinals, was the second most traded blockchain network last week in the NFT ecosystem. In the last seven days, Bitcoin-based NFT collections have recorded a trading volume of $69 million. Bitcoin NFT sales fell 49% from the previous week.
Solana, an open-source public blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, was the third most traded blockchain network in the NFT ecosystem. Over the past seven days, Solana NFT collections have attracted $48 million in trade sales volume. Solana NFT sales volume fell 23.97% compared to the previous week.
Best-selling NFT collection last week
1. Collection of Bitcoin ordinals
Bitcoin, the NFT collection created on the Bitcoin blockchain network using ordinal theory, was the best-selling NFT collection of last week. In the last seven days, Bitcoin Ordinal NFT collections have raised a trading volume of $24 million. Bitcoin NFT sales fell 63% from the previous day.
2. CryptoPunks NFT Collection
CryptoPunks, an NFT collection formerly from digital asset firm Larva Labs that features a fixed set of 10,000 NFT collections hosted on the Ethereum blockchain network, was the second best-selling NFT collection of the past week. In the last seven days, CryptoPunks’ NFT collection has recorded a trading volume of $21 million. Cryptopunk NFT trading sales increased by 285% from the previous week.
3. NodeMonkes NFT Collection
NodeMonkes, an NFT collection featuring a limited edition of 10,000 NFT collections hosted on the Bitcoin blockchain network, was the third best-selling NFT collection last week. In the last seven days, NodeMonkes’ NFT collection has recorded a sales volume of $9.5 million.
4. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, digital asset incubator Yuga Labs’ non-fungible token collection that features a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network, was the fourth best-selling NFT collection of the past week. In the last seven days, the Bored Ape Yacht has accumulated a commercial sales volume of $7.5 million.
5. DMarket NFT Collection
DMarket, an NFT collection from DMarket, a company that operates a blockchain-based decentralized marketplace for trading gaming items on any gaming platform, was the fifth best-selling NFT collection last week. In the last seven days, the DMarket NFT collection has attracted a trading volume of $7 million.
6. Mad Lads NFT Collection
Mad Lads, an NFT collection from the Solana Coral development project featuring a limited supply of 10,000 NFTs hosted on the Solana blockchain network, was the sixth best-selling NFT series. In the last seven days, the Mad Lads NFT collection has recorded a trading volume of $6.4 million. Mad Lads NFT sales volume fell 45% from the previous week.
7. Chubby Penguin NFT Collection
Pudgy Penguins, an NFT collection from the famous toy brand Pudgy Penguins that features a fixed set of 8,888 NFTs hosted on the Ethereum blockchain network, was the seventh best-selling NFT collection. Over the past seven days, Pudgy Penguins NFT collections have attracted $5.4 million in trade sales volume.
8. Gods Unchained NFT Collection
Gods Unchained, an NFT collection from the digital trading card game Gods Unchained hosted on the Immutable X blockchain network, was the eighth best-selling NFT collection last week. In the last seven days, the Gods Unchained NFT collection has recorded a trading volume of $5.2 million. Its commercial sales volume increased 42% compared to the previous week.
9. Froganas NFT Collection
Froganas, an NFT collection featuring a limited supply of 5,555 humanoid frogs hosted on the Solana blockchain network, was the ninth best-selling NFT collection last week. In the last seven days, the Froganas NFT collection has recorded a sales volume of $4.8 million. Its commercial sales volume fell 8% compared to the previous week.
10.$?? BRC-20 NFT Collection
The Question, an NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, was the 10th best-selling NFT collection last week. In the last seven days, the $?? The BRC-20 NFT collection has recorded a trade sales volume of $4.6 million, closing out our list of the top ten best-selling NFTs last week. Its commercial sales volume increased by 145% compared to the previous week.
Top NFT Collectibles Sales Last Week
Cryptopunk #7804 was the best-selling NFT collection last week, selling for $16,382,444 a few days ago. Think Liquidity #18 was the second most expensive NFT collection sold last week, selling for $538,207 four days ago. The Bitcoin Ordinal collection was the third most expensive NFT sold last week, priced at $276,665.
NFT related news:
Green Bitcoin: gamified green bet
- Contract audited by Coinsult
- Early Access Presale Live Now – greenbitcoin.xyz
- Predict to Win – Featured on Cointelegraph
- Staking Rewards and Token Bonuses
- Over $7 million raised – Ends soon
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