Weekly NFT sales plunge to $73.7m, Solana network sales surge

September 22, 2024 at 4:30 pm

Edited by Anthony Patrick

Markets

Weekly NFT sales plunge to $73.7m, Solana network sales surge

The non-fungible token market has experienced a 4.2% drop in sales volume in the last seven days.

This drop comes after a decent surge of 7.68% as reported in our last weekly NFT sales column. The latest data from Cryptoslam shows that NFT sales volume in the last seven days stood at $73.75 million.

The numbers are down by 4.2% considering the $109 million sales volume in the week prior.

Even though the NFT sales volume came down to the double digits, there has been a 132% surge in NFT buyers. Cryptoslam data shows that NFT buyers stood at 521,640 while NFT sellers were 270,413.

Interestingly, NFT transactions dropped over 26% in the last seven days to 1,217,967. Let us have a detailed look at the blockchains that ruled during this period.

Ethereum and Solana top the list

Weekly NFT sales plunge to $73.7m, Solana network sales surge - 1 — Source: Blockchains by NFT Sales Volume (CryptoSlam)

As per the data, Ethereum (ETH) has maintained the first ranking with $23.9 million in NFT sales. However, the network saw over 9.6% drop in the sales as opposed to the prior week. Interestingly, 12.24% of the sales came from wash trading.

Solana (SOL) took over the second position with $16 million in sales. Bitcoin (BTC), Polygon (POL) and Binance Coin (BNB) took the next three spots with $13 million, $7.5 million and $3.3 million in sales, respectively.

Wash trading was recorded the least for the BNB network, while Solana and Bitcoin recorded 6.41% and 4.54%, respectively.

Cryptoslam data highlights that NFT sales volume surged on the Solana network by 17.89% as well as on Polygon at 51.3%.

Guild of Guardians Heroes stands as the top collection

Guild of Guardians on the Immutable-Zk chain took home the first ranking for the highest sales volume. The NFT collection recorded $2.86 million in sales volume across 5786 transactions.

Trailing just behind, the DogeZuki Collection on Solana bagged second place with $2.4 million in sales with 61,447 transactions. DogeZuki has held its position strong just like the previous week.

Weekly NFT sales plunge to $73.7m, Solana network sales surge - 2 — NFT Collection Rankings by Sales Volume (CryptoSlam)

Third on the list with $2.368 million in sales is Sorare on the Ethereum blockchain. The NFT collection enjoyed a total of 108,690 transactions.

CryptoPunks, on the other hand, recorded 25 transactions with a sales volume of $2.2 million, ranking fourth. DMarket on Mythos blockchain is fifth on the list with $2.1 million in sales and 80,713 transactions.