Ethereum

Blur

DappRadar

The non-fungible token (<a href="https://crypto.news/learn/how-to-create-your-first-nft/">NFT</a>) sector is witnessing a strong bearish momentum as OpenSea falls to the fourth spot among leading marketplaces. 
According to data <a href="https://www.cryptoslam.io/" target="_blank" rel="noopener">provided</a> by CryptoSlam, global NFT sales plunged by 26% in the past 24 hours, and the trading volume is currently standing at $58.2 million. One of the main reasons behind the fall could be the investors’ focus shift to cryptocurrencies. 
The Ethereum network is still leading the chart with $23.5 million in NFT sales in 24 hours, followed by Bitcoin’s $20 million trading volume, per CryptoSlam.&nbsp;&nbsp; 
The Bitcoin-based digital collection NodeMonkes — released in December 2023 — recorded the most amount of sales in the past 24 hours — over $5 million — overtaking Ordinals, Bored Ape Yacht Club (BAYC) and Pandora. 
 You might also like: <a href="https://crypto.news/crypto-liquidations-surpass-1-billion-as-the-market-plunges/"> Crypto liquidations surpass $1 billion as the market plunges </a> 
Per CryptoSlam data, the number of NFT buyers and sellers declined by 4% and 9.4% in the past 24 hours, respectively.&nbsp; 
According to data from DappRadar, Blur is currently the top NFT marketplace with a total sales volume of $25.3 million over the past day. However, Blur’s number of sales declined by 3.3%, with around 4,570 unique trades, in the past 24 hours.&nbsp; 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="307" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-06-134007-1024x307.png" alt="NFT sales decline, OpenSea falls to the 4th spot - 14" class="wp-image-14255972">
 <figcaption class="wp-element-caption">
 NFT marketplaces sales data – March 6 | Source: DappRadar
 </figcaption>
</figure> 
Moreover, the second-largest NFT marketplace over the past 24 hours, Magic Eden, also witnessed a 38% plunge in its trading volume — currently hovering at $8.4 million with 10,510 sales. 
The OKX NFT Marketplace, however, recorded a slight increase in its daily NFT sales volume — currently sitting at $5 million.&nbsp; 
<a href="https://crypto.news/learn/a-step-by-step-guide-to-buying-and-selling-nfts-on-opensea/">OpenSea</a>, once the largest NFT marketplace, is now sitting in the fourth spot with a $4.99 million 24-hour trading volume. The average price of a digital collectible on OpenSea plunged by 22.22% in the past 24 hours. 
The bearish sentiment in the NFT ecosystem comes while the cryptocurrency sector recorded impressive gains over the past month and Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) even <a href="https://crypto.news/bitcoin-69000-all-time-high-2024/">reached a new all-time high</a>.&nbsp; 
 Read more: <a href="https://crypto.news/why-is-crypto-down-today-the-market-cooldown/"> Why is crypto down today? The market cooldown </a>

NFT sales decline, OpenSea falls to the 4th spot

crypto.news

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