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NFT Sales Spike 12.62% Higher Than Last Week, Breaking Two-Month Downturn

NFT Sales Spike 12.62% Higher Than Last Week, Breaking Two-Month Downturn

Parsed data from the week spanning October 14-21, 2023, reveals an upward trend in non-fungible token (NFT) sales, with a 12.62% surge from the previous week. Both buyer and seller participation swelled, by 15% and 17% respectively, resulting in approximately $70.51 million in NFT transactions.

NFT Sales Break Free From Two-Month Dip

Following a persistent downturn in weekly sales over the past two months, this week witnessed a rebound in NFT sales. Approximately $70.51 million worth of NFT transactions were logged across almost two dozen blockchains. Ethereum reigned supreme in this week’s NFT trade volume with $36.96 million, marking a 16.09% escalation from the week before. With $36.96 million this week, Ethereum’s NFT sales account for 52.41% of the week’s aggregate. Statistics were recorded by the NFT aggregation site cryptoslam.io.

Ethereum’s NFT supremacy was trailed by Mythos, which recorded $9.54 million, a 5.61% uptick, and Solana, which posted $6.69 million, a sizable 25.31% jump. Immutable X ($4.99M) and Polygon ($3.86M) completed the top five, while Bitcoin ($2.99M) clinched the sixth spot in the NFT sales ranking this week. The most lucrative collection this week was Mythos’ Dmarket, generating $9.48 million in sales, with Gods Unchained falling closely behind at $4.76 million.

The Bored Ape Yacht Club (BAYC) registered $4.31 million in sales, followed by Winds of Yawana, which raked in $3.57 million from NFT trades. Sorare took the fifth spot this week, with sales totaling $2.3 million. Over the seven-day period, roughly 1,602,001 NFT transactions were tracked, a 2.34% decrease from the previous week. The week’s highest-grossing NFT sale was Cryptopunk #9611, which fetched $250,556 two days ago. This sale was succeeded by a Cardano NFT named Cardanians Loyalty, which was purchased for $159,096.

One of BNB’s Halmonious Realms NFTs was sold for $50,000 and an unclassified Ordinal inscription fetched $30,463. The fifth most expensive NFT sale this week was a Solana-based digital collectible, Mad Lads #6041, which was sold for $15,116. Despite the recent uptick in NFT sales, the continuance of this trend remains uncertain. Presently, a significant majority of today’s NFTs are valued at 90% less than their peak prices.

What do you think about this week’s NFT sales? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/qubPRiK
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