NFT sales fell 5% last week – here’s the NFT market prediction for this week| Trending Viral hub

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The non-fungible token market presented a bearish outlook along with other cryptocurrencies last week, according to recent cryptocurrency market statistics. The market crash began after rumors about the SEC’s rejection of Bitcoin exchange-traded funds went viral. In this article, we will explore what to expect as the larger crypto community eagerly awaits the Bitcoin EFT deliberations this week.

Bitcoin ETF

Source: X (formerly Twitter), Bitcoin ETFs are trending right now

NFT sales drop 5.56% last week

Data collected by Cryptoslam.io, an on-chain data aggregator, indicates that the global non-fungible token market has recently faced a crash. In the last seven days, the NFT market accumulated a commercial sales volume of $306 million, representing a decrease of 5.56% compared to the previous week.

NFT sales

Non-fungible token collections hosted on Bitcoin, the same blockchain network that powers the flagship cryptocurrency Bitcoin, were the most traded NFT collection last week. In the last seven days, Bitcoin-based NFT collections have accumulated a sales volume of $123 million. However, Bitcoin NFT sales volume fell 16% last week from the previous week.

Digital collectibles hosted on Ethereum, one of the largest blockchain networks for NFTs, were the second most traded NFT collection last week. The Ethereum-based NFT collection has recorded a trading volume of $70 million in the last seven days. Ethereum-based NFT sales increased by 1.18% last week from the previous week.

nft blockchain sales

Source: Cryptoslam.io, NFT sales by blockchain in the last seven days.

Non-fungible token collections hosted on Solana, a decentralized blockchain network that uses a proof-of-stake consensus mechanism, and Polygon, a scalable Ethereum blockchain network, were the third and fourth most traded NFT collections last week. In the last seven days, Solana-based NFTs racked up a trading sales volume of $43 million.

Polygon-based NFTs recorded a commercial sales volume of $35 million last week. Solana NFT sales fell 35% during this period, while Polygon NFT sales skyrocketed 194% from the previous week. Avalanche closed the list of the top five NFT blockchains, amassing a trading sales volume of $9.8 million. However, the number of traders buying and selling NFTs fell by 94% and 92% last week.

Ten best-selling NFT collections last week

best selling nfts 1

Source: CryptoSlam.io, best-selling NFTs in the last seven days

1. Bitcoin Ordinals ‘Uncategorized NFTs’

Bitcoin Ordinals, a collection of non-fungible tokens created on the Bitcoin blockchain network using Satoshi Nakamoto’s ordinal theory, was the best-selling NFT collection last week. Over the past seven days, the Bitcoin Ordinals NFT collection has accumulated a trading sales volume of $42 million. Bitcoin Ordinal NFT sales increased 35% last week from the previous week.

2. Gas Hero Common NFT Collection

Gas Hero Common, an NFT collection hosted on the Polygon blockchain network, was the second best-selling NFT collection last week. In the last seven days, the Gas Hero Common NFT collection has recorded a trading volume of $10 million.

3.$?? BRC-20 NFT Collection

The question mark ‘??’, a collection of non-fungible tokens created on the Bitcoin blockchain network using the BRC-20 ordinal protocol, was the third best-selling NFT collection last week. In the last seven days, $?? The BRC-20 NFT collection has attracted a commercial sales volume of $7.5 million. The NFT collection increased 99.8% in sales volume compared to the previous week.

4. Dokyo NFT Collection

Dokyo, an NFT collection from digital asset incubation studio Ava Labs, in partnership with Japanese creative studio web3 Murasaki featuring a limited supply of 5,555 NFTs hosted on the Avalanche blockchain network, was the fourth most traded NFT collection of the week pass. In the past seven days, Dokyo has recorded a business sales volume of $7.2 million. Dokyo NFT sales increased by 117% last week.

5. Froganas NFT Collection

Froganas, an NFT collection with a limited supply of 5,555 Solana-based humanoid frogs mutated by mysterious environmental changes, was the fifth best-selling NFT collection last week. The Froganas NFT collection has accumulated a trading volume of $7.1 million over the past seven days. During this period, Froganas NFT collection fell by 49% last week.

nfts 2 best selling

Source: CryptoSlam.io, best-selling NFTs in the last seven days

6. Gas Hero Coupon NFT Collection

Gas Hero Coupon, another new non-fungible token collection hosted on Polygon, an Ethereum scaling network, was the sixth best-selling NFT collection last week. In the last seven days, Gas Hero Coupons has recorded a business sales volume of $6.5 million.

7. DMarket NFT Collection

DMarket, an NFT collection from the DMarket NFT marketplace platform hosted on the Mythos Chain blockchain network, was the seventh best-selling NFT collection last week. In the last seven days, the DMarket NFT collection has recorded a trading volume of $5.1 million. DMarket NFT sales skyrocketed 10.36% last week from the previous week.

8. NFT Collection of Gas Hero Items

Gas Hero Items, another NFT collection hosted on the Polygon blockchain network, was the eighth best-selling NFT collection last week. The Gas Hero Items NFT collection has achieved a trading volume of $4.9 million in the last seven days.

9. Gas Hero Weapons NFT Collection

Gas Hero Weapon, another NFT collection hosted on the Polygon blockchain network, was the ninth best-selling NFT collection last week. In the past seven days, the Gas Hero Weapon NFT collection has achieved a trading volume of $4.9 million.

10. Azuki NFT Collection

Blue-chip Azuki, an NFT collection from digital asset firm Chiru Labs that features a limited supply of 10,000 anime-themed NFTs hosted on the Ethereum blockchain network, was the 10th best-selling NFT collection last week. The Azuki NFT collection has raised a trading volume of $4.6 million in the past seven days. Azuki NFT sales increased 103% last week from the previous week.

The most expensive NFTs sold last week

The RBX Vesting Voucher #42 was the most expensive NFT collection sold last week, selling for $741,910 seven days ago. Lock Deal #1,675 was the second most expensive NFT collection sold last week, selling for $452,943 twenty-four hours ago. $ORD, a BRC-20 NFT collection, was the third best-selling NFT collection last week, selling for $428,277 four days ago.

mst-exp nfts

The NFT market prediction for this week

The NFT market, which recovered in November 2023 after experiencing a disappointing decline of more than a year, is expected to continue growing in the new year. The NFT market is waiting for some market catalysts, including the highly anticipated Bitcoin ETF approvals, to retest another Bull Run. Data of Statesman He previously predicted that the NFT market would reach $3.2 billion by 2027.

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