Ethereum

Blast

Guild of Guardians

Tezos

Bitcoin

Over the last seven days, the non-fungible token (NFT) market saw sales reach $145 million, reflecting a decline of over 9% from the previous week.&nbsp; 
This downturn continues a trend of falling sales over recent weeks, with four out of the top five blockchains by sales volume seeing decreases during this period. 
Last week, as <a href="https://crypto.news/nft-sales-dip-by-11-16-bitcoin-takes-hit-dominates/" target="_blank" rel="">reported</a> by crypto.news, sales of digital collectibles dropped by more than 11%, and this week, they fell by another 9.68%, totaling $145.01 million, per data from CryptoSlam. 
<h2 class="wp-block-heading" id="strong-bitcoin-leading-the-pack-strong">Bitcoin leading the pack</h2> 
As seen in previous weeks, Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="">BTC</a>) continued to lead the weekly <a href="https://crypto.news/tag/nft/" target="_blank" rel="">NFT</a> sales, consistently staying ahead of major rivals Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="">ETH</a>) and Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="">SOL</a>).&nbsp; 
In the last week, the <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> network had the largest NFT sales volume among blockchains, managing to rake in about $44.1 million, according to <a href="https://www.cryptoslam.io/" target="_blank" rel="">CryptoSlam</a>. 
However, despite the impressive figures, it still marked an 11% drop from the previous week.&nbsp; 
<figure class="wp-block-image">
 <picture loading="lazy" decoding="async" class="wp-image-14273559"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/05/image-8.png.webp"> 
 <img loading="lazy" decoding="async" width="906" height="318" src="https://crypto.news/app/uploads/2024/05/image-8.png" alt="NFT weekly sales drop 9% to $145m, Bitcoin leads despite downturn - 20"> 
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 <figcaption class="wp-element-caption">
 Top 5 blockchains by NFT sales volume | Source: CryptoSlam
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Ethereum followed with $38.4 million in sales, which was down by 1.59%. Interestingly, the blockchain also recorded about $34.2 million in wash trading, a practice where buyers and sellers in a transaction are either the same person or individuals conspiring to create an impression of high demand for a particular NFT.&nbsp; 
If both the actual and wash trading numbers on Ethereum were combined, the network would have the highest NFT sales volume for the week at over $72 million. 
Coming in at #3 in terms of NFT sales was Blast, a newcomer to the top five, which recorded $15.943 million, marking an 8.48% decline.&nbsp; 
In fourth place was <a href="https://crypto.news/tag/solana/" target="_blank" rel="">Solana</a>, which reported $14.26 million in sales over the last seven days. The figure marked a steep 44.73% drop from the previous week, a percentage loss only beaten by Arbitrum (<a href="https://crypto.news/price/arbitrum/" target="_blank" rel="">ARB</a>), Tezos (<a href="https://crypto.news/price/tezos/" target="_blank" rel="">XTZ</a>), and Fantom (<a href="https://coinmarketcap.com/currencies/fantom/#:~:text=The%20live%20Fantom%20price%20today,market%20cap%20of%20%242%2C475%2C805%2C470%20USD." target="_blank" rel="">FTM</a>), whose sales volumes declined by 51.71%, 62.09%, and 69.21%, respectively. 
Sitting at #5, Polygon (<a href="https://crypto.news/price/polygon/" target="_blank" rel="">MATIC</a>) bucked the negative trend with $12.14 million in sales, which was a 20.37% increase from the previous week. 
 You might also like: <a href="https://crypto.news/layerzero-spots-800k-sybil-addresses-airdrop-scheme/" rel=""> LayerZero readies sybil ‘bounty hunting’ effort, spots 800k addresses in airdrop scheme </a> 
<h2 class="wp-block-heading" id="strong-uncategorized-ordinals-records-highest-weekly-sales-volume-strong">Uncategorized Ordinals records highest weekly sales volume</h2> 
Among NFT collections, Uncategorized Ordinals continued to lead in sales volume, with $16.4 million in sales, despite a 26.73% weekly decrease. Blast’s Fantasy Top took second place with $15.93 million.&nbsp; 
Mythos’ Dmarket came in third with $5.58 million, followed by Bitcoin’s Nodemonkes with $4.74 million. Immutable-Zk’s Guild of Guardians overtook Core’s BRC20s to take fifth place with nearly $4.4 million in sales. 
<figure class="wp-block-image size-full">
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 <img loading="lazy" decoding="async" width="633" height="320" src="https://crypto.news/app/uploads/2024/05/Screenshot-Capture-2024-05-19-13-04-48.png" alt="NFT weekly sales drop 9% to $145m, Bitcoin leads despite downturn - 21"> 
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 <figcaption class="wp-element-caption">
 Top 5 NFT collections by sales volume | Source: CryptoSlam
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</figure> 
<h3 class="wp-block-heading" id="strong-cryptopunk-nft-fetches-792-000-strong">CryptoPunk NFT fetches $792,000</h3> 
The week’s most expensive NFT sale was Cryptopunk #741, which fetched a hefty $792,046.&nbsp;Interestingly, an Ordinal inscription was the second-highest at $681,497. 
Other notable sales included Earthnode #184 from Cardano, which fetched $56,026, a PepperMints NFT from Solana, which fetched $40,384, and a Blast Chain NFT that sold for just under $40,000. 
Overall, there was a significant uptick in buyers and sellers. According to CryptoSlam, the number of NFT buyers last week spiked by more than 166%, while that of NFT sellers increased by 139%. Still, the 1,583,262 NFT transactions represented a 27.58 dip from the previous week. 
Meanwhile, Italian fashion designer Dolce &amp; Gabbana and digital assets platform UNXD face a class-action lawsuit after alleged delays in delivering NFT products, according <a href="https://www.bloomberg.com/news/articles/2024-05-17/dolce-gabbana-metaverse-fashion-offering-leaves-shopper-fuming" target="_blank" rel="">to</a> Bloomberg. 
The company’s digital assets plummeted 97% in value.&nbsp; 
 Read more: <a href="https://crypto.news/scaramucci-btc-institutional-investing-happening-now/" rel=""> Scaramucci: Bitcoin institutional investing ‘happening now’ </a>

NFT weekly sales drop 9% to $145m, Bitcoin leads despite downturn

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