Ethereum

DMarket

Base

Polygon

Mythos

The non-fungible token, or NFT, market saw a 7.68% boost in sales volume this week, hitting $109 million, with notable activity on Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) and Polygon (<a href="https://crypto.news/price/polygon/" target="_blank" rel="noreferrer noopener">MATIC</a>) blockchains. 
However, this uptick came against a backdrop of massively declining numbers of NFT buyers and sellers, which plunged by 68.00% and 67.78%, respectively.&nbsp; 
Interestingly, even as the number of market participants went down, NFT transactions witnessed a substantial increase, skyrocketing by nearly 21% to reach 2,435,539 trades, according to <a href="https://www.cryptoslam.io/" target="_blank" rel="">data</a> from CryptoSlam. 
Here’s a comprehensive look at the key events and trends that shaped the <a href="https://crypto.news/tag/nft/" target="_blank" rel="noreferrer noopener">NFT</a> landscape over the past seven days. 
<h2 class="wp-block-heading" id="strong-ethereum-polygon-lead-charge-strong">Ethereum, Polygon lead charge</h2> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfvrKZ02BP2E2fVlVI3VlQnCHdzxiyNXIvHfUnGNaZCZ7oWjM4aUt1dfsb5IZ40FGCdVYsw3eZ7yw2kfABWdBfbOpTy4Kuk6LOOLXnvdecPFqnJMm3nIDGxBYC8PGS16Bi8asMv8bC0IE3draLRWmNoOyNA?key=W98CNUlB0lwpMtDGh8oQKQ" alt="Weekly NFT sales hit $109m: Ethereum, Polygon lead charge despite decline in buyers - 21">
 <figcaption class="wp-element-caption">
 Blockchains by weekly NFT sales volume | Source: CryptoSlam
 </figcaption>
</figure> 
Among the blockchains, Ethereum maintained its position as the leading blockchain for NFT sales, generating $32,711,790 despite the prevalence of wash trading. 
However, the battle to occupy the second spot heated up over the week. Polygon <a href="https://crypto.news/polygon-surpasses-bitcoin-solana-in-daily-nft-sales-volume/" target="_blank" data-type="link" data-id="https://crypto.news/polygon-surpasses-bitcoin-solana-in-daily-nft-sales-volume/" rel="noreferrer noopener">overtook</a> Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) and Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>) after seeing a 90% rally in its NFT trading volume.&nbsp; 
Data shows that Polygon’s weekly NFT sales surpassed the $24 million mark, with an additional $3.1 million coming from wash trading.&nbsp; 
What is worth noting is that Polygon’s improved showing came even as the number of NFT buyers on the blockchain dropped by a massive 78.98%. 
<h2 class="wp-block-heading" id="strong-solana-bitcoin-drop-strong">Solana, Bitcoin drop</h2> 
Third was Solana, which sold digital collectibles worth $22.7 million. This figure is a 2% drop from what the network raked in the previous week.&nbsp; 
However, Solana’s wash trading figures went up by more than 32%, translating into a slight 0.37% improvement in the chain’s total NFT sales numbers. 
Additionally, despite a 70% plunge, Solana had the highest number of unique buyers among the top 5 blockchains at 88,090. 
Traditionally known for its store-of-value proposition, Bitcoin continued to fight for relevance in the NFT space.&nbsp; 
The network earned about $15.1 million in NFT sales over the week, a nearly 5% drop from the previous week’s figures. This saw Bitcoin drop further to the #4 spot in terms of weekly sales volume.&nbsp; 
However, it was still miles better than the fifth-placed blockchain, Mythos (<a href="https://coinmarketcap.com/currencies/mythos/" target="_blank" rel="">MYTH</a>), which registered sales worth $4.16 million. 
 You might also like: <a href="https://crypto.news/trump-maga-coins-surge-after-ex-president-shot-rally/"> TRUMP, STRUMP, MAGA, MVP: How meme coins reacted after shooting at Ex-President’s rally </a> 
<h2 class="wp-block-heading" id="strong-top-nft-collections-dmarket-dogezuki-shine-strong">Top NFT collections: DMarket, DogeZuki shine</h2> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeQkXzLQScYKHlr9-IbZDh4u24iEopAzyDTBdtqyNgJ8JddoFqJqsskaw-aBmlWtVWeRIybNxwI3-oDByBU8BO1zIb2p6drM1qQJe4jzRkKVMdR9SFYjZ61MQ405YUlIPj9M4HSHwAU7povVGMaVCRne3eQ?key=W98CNUlB0lwpMtDGh8oQKQ" alt="Weekly NFT sales hit $109m: Ethereum, Polygon lead charge despite decline in buyers - 22">
 <figcaption class="wp-element-caption">
 NFT collection rankings by weekly sales volume | Source: CryptoSlam
 </figcaption>
</figure> 
The DMarket collection on Mythos topped the charts this week among NFT collections, generating $3,915,145 in sales across 166,053 transactions.&nbsp; 
While this performance marks a 3.83% drop from the previous week’s numbers, it still underscores the increasing appeal of Mythos Chain as a platform for NFT trading.&nbsp; 
The DogeZuki Collection on Solana also made waves, raking $3,038,960 from 71,566 transactions. Market watchers suggest the collection’s popularity could highlight Solana’s capability to attract high-profile projects and maintain high buyer engagement. 
Other notable collections included Base Ape Polygon, which recorded $2,809,791 in sales, and Froganas, also on Solana, with $2,759,532.&nbsp; 
However, the biggest jump of the week came from another Solana collection dubbed “Send it,” with sales skyrocketing by 1752.43% to $2,723,251. 
<h2 class="wp-block-heading" id="strong-high-profile-nft-sales-strong">High-profile NFT sales</h2> 
This week also saw several high-value NFT sales that grabbed headlines: 
<ul> 
 <li>TokenVestingPlans #582 on Ethereum sold for $360,611.</li> 
 <li>Bitcoin Punks’ Punk #3100 sold for $115,430.</li> 
 <li>gUSDC Locked Deposit #205 on Arbitrum (<a href="https://crypto.news/price/arbitrum/" target="_blank" rel="noreferrer noopener">ARB</a>) sold for $88,908.</li> 
 <li>DeezNode #045 on Solana sold for $75,548.</li> 
</ul> 
Additionally, fan tokens, which are a growing frontier in NFTs, also made a significant impact this week, particularly on the Chiliz (<a href="https://crypto.news/price/chiliz/" target="_blank" rel="noreferrer noopener">CHZ</a>) blockchain:&nbsp; 
<ul> 
 <li>Galatasaray’s fan token sales skyrocketed 70,149% to $280,537,908.</li> 
 <li>FC Barcelona had a sales volume of $50,162,146.</li> 
 <li>Paris Saint-Germain registered a sales volume of $46,709,324.</li> 
</ul> 
 Read more: <a href="https://crypto.news/bitcoin-etfs-renewed-interest-inflows-surpass-310m/"> Record inflows for Bitcoin ETFs as market sees renewed interest </a>

Weekly NFT sales hit $109m: Ethereum, Polygon lead charge despite decline in buyers

Innholdsfortegnelse

crypto.news

Andre artikler publisert på 14. juli 2024

Brad Garlinghouse Triumph: Leading Ripple Through Legal Victory

Hottest New Cryptocurrencies, 100% Moonshot Soon

Bitcoin Price Surges to 10-Day High

Bitcoin carves out a bottom, opening the door for KAS, MKR, AR and NOT to rally

Authorities Jail TORN Coin Developer

100x Potential: 3 Cryptos Set To Explode Before the End of July 2024

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!