DMarket

Polygon

Read

Mythos

This past week, the overall non-fungible token market was a mixed bag. 
NFT sales volume dropped by 11.92%, totaling $81.8 million, while the number of NFT buyers increased by 173.25% to 327,594. 
Let’s take a look at some of the key metrics that characterized the <a href="https://crypto.news/tag/nft/" target="_blank" rel="noreferrer noopener">NFT</a> market over the last seven days based on data from CryptoSlam. 
<h2 class="wp-block-heading" id="key-blockchain-performances">Key blockchain performances</h2> 
Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) continued its dominance in terms of NFT sales volume. Despite a more than 10% drop from the previous week, the network still managed to rake in over $28 million — a figure accompanied by a notable rise in buyer activity, which went up 42.5%. 
Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>) came in second after it generated more than $16 million in NFT sales. However, the figure represented a 15% decline, even though the network witnessed a staggering 245.93% increase in buyers. It also saw a nearly 6% drop in wash trading activities. 
Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) maintained the third spot for a third week running, even though the $13.8 million it brought in reflected a 6.1% drop from the previous week’s numbers.&nbsp; 
Wash trading on the network went up by more than 4%, although the $410,863 realized from that activity pales in comparison to other blockchains. For instance, fourth-placed Polygon (<a href="https://crypto.news/price/polygon/" target="_blank" rel="noreferrer noopener">MATIC</a>) had the highest amount of funds from wash trading at $9.1 million. The amount was markedly higher than the $6.6 million that came into Polygon from owner to owner NFT sales. 
Rounding out the top five is Mythos Chain, which experienced the steepest decline in NFT sales volume, plummeting almost 30% to just north of $5 million. 
 You might also like: <a href="https://crypto.news/chart-of-the-week-heliums-158-rally-may-be-nearing-a-turning-point/"> Chart of the week: Helium’s 158% rally may be nearing a turning point </a> 
<h2 class="wp-block-heading" id="notable-collections-and-sales">Notable collections and sales</h2> 
Coming to NFT collections, Mythos Chain surprisingly produced the best-selling NFT collection of the week, with its DMarket collection raking in $4.99 million in sales across seven days. 
However, the amount was still a nearly 30% plunge from last week’s levels, with the number of transactions recorded for the collection also dropping 33%. 
Meanwhile, second-placed Sorare, hosted on <a href="https://crypto.news/tag/ethereum/" target="_blank" rel="noreferrer noopener">Ethereum</a>, showed resilience, with sales going up 8.3% to $3.65 million. The number of transactions for the collection also went up by almost 8%, while buyer activity increased by more than 10%.&nbsp; 
The uptick in activity coincides with the start of popular European <a href="https://www.msn.com/en-gb/sport/football/when-every-major-european-league-starts-2024-25/ar-AA1omjHS" target="_blank" data-type="link" data-id="https://www.msn.com/en-gb/sport/football/when-every-major-european-league-starts-2024-25/ar-AA1omjHS" rel="">soccer</a> leagues including the Premier League and La Liga, which may have caused renewed interest in the fantasy sports platform. 
However, the standout performer of the week was Bitcoin’s Uncategorized Ordinals, which saw a staggering 864.66% increase in sales to $3.1 million. 
<h2 class="wp-block-heading" id="top-nft-sales-of-the-week">Top NFT sales of the week</h2> 
In terms of sales of individual NFT pieces, one of the most notable transactions was that of an Uncategorized Ordinal on <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> which sold for a whopping $2.4 million. 
In contrast, Ethereum’s Bored Ape Yacht Club #2579 sold for $342,542, a pretty huge amount but dwarfed by the Ordinal sale. Other notable transactions in the week included Solana’s Froganas #4559, which fetched $82,689, and a BNB Paraluni Perpetual Bond, which sold for $134,751. 
 Read more: <a href="https://crypto.news/sea-of-red-in-crypto-celestia-wif-ethena-and-sui-lead-losses/"> Sea of red in crypto: Celestia, WIF, Ethena, and Sui lead losses </a>

NFT buyer activity surges over 173% as sales volume dips

Table of Contents

crypto.news

Other articles published on Aug 17, 2024

Ethereum’s Gas Fees Dive to Lowest Since Mid-2019 Amid Increased Layer 2 Transactions

Self-custody wallet firm Exodus reports a quarterly loss of $10M despite $22M revenue

Crypto VC funding: Chaos Labs tops our roundup with $55m series A

Unlock Defi's Future With Agaswap - Low Fees, High Security, Seamless Trading.

Altcoin Whale, Who Hasn’t touched His Stash for Six Years, Sold It All Today: Here’s How Much Pro...

Spot Bitcoin ETFs in U.S. Draw Major Investor Interest

Join our free newsletter for daily crypto updates!