NFT Market Experiences a Downward Trend Amidst Crypto Boom

NFT Sales Witness Sixth Consecutive Dip Despite Crypto Economy's Overall Growth

Oct 04, 2023
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Ethereum continues to lead in NFT sales, despite a slight decrease.

Despite overall growth in the crypto economy last week, NFT sales saw their sixth consecutive decline, marking a 9.91% decrease compared to the previous week.

According to data, NFT sales totaled approximately $72,767,450 from September 24 to October 1, 2023. However, the number of NFT buyers increased by 17.77% to 569,407 while NFT sellers grew by 15.82% to 714,889 in the past week.

Ethereum maintained its leadership among the twenty-two blockchain networks monitored for NFT sales, generating $37.27 million in sales or 51.22% of the total. However, sales of ETH-based NFTs experienced a slight decline of 1.16% from the previous week.

Mythos NFT ranked second with $7.83 million in sales, representing a 13.12% increase compared to last week. Polygon came in third with $7.12 million, while Solana ranked fourth with $5.86 million. Finally, Immutable X placed fifth with $5.47M in sales.

Among the top-performing NFT collections, Dmarket - affiliated with Mythos - secured first place with sales totaling $7.76M, trailed by Immutable X's Gods Unchained which generated $5.22M. Other noteworthy contenders in the weekly sales contest comprised Draftkings, Bored Ape Yacht Club (BAYC), and Sorare. Additionally, the most notable NFT acquisition this week was the sale of BAYC #591 for a substantial sum of $177,710 on Opensea just five days ago.

These statistics showcase the diversity and excitement surrounding NFT purchases across various blockchain platforms.

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