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Home»Ethereum»NFT market falls over 7%, but Ethereum still leads the way

NFT market falls over 7%, but Ethereum still leads the way

Ethereum By Gavin01/06/2024
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This non-fungible coin (NFTThe. market had another slow week with sales falling 7.5% in seven days to $121.4 Million on June 1. 

List of top Blockchains ranked by Sales Volume

Ethereum () has been trading for the past 7 days.ETHAfter overtaking Bitcoin, ) is now the top blockchain for NFT (Near Field Transactions).BTC) last week.

As per data CryptoSlam sales were $37.43million, an increase of 11.24 % from last week. 

Bitcoin, the second most active blockchain for non-fungible token sales, raked in $27.21 million — reflecting a 12.88% drop.

NFTs based in Solana generated just under $19 million. This represents a small 0.52% decrease.

Polygon is a fascinating (MATIC) stood out with a 27.10% increase in sales over the previous week, totaling approximately $15.6 million. Immutable (IMXSales of $8.49 millions also increased by 12.23%.

CryptoSlam: Blockchains ranking based on 7-day NFT Sales| Source: CryptoSlam

Sales volume monthly

The top five sales ranking over 30 days was almost identical to the weekly rankings, except that Blast replaced Immutable as #5. Ethereum’s sales in May were $163.7m, which is 55% less than April. 

Bitcoin sales fell by 73.44% to $158.5 millions. It was the same despite Bitcoin having the highest monthly sales. best Two weeks’ worth of sales figures in the month of May.

Solana (SOLOver the course of 30 days, ), earned just above $94,000,000. That’s a decline of 45.8% compared to April. Polygon’s NFT sales for May were down by 34.60%, despite having been positive over the last two week. 

However, Blast bucked this trend by showing an impressive 519.17% rise in its sales volume during the last 30 days. In the last month, the layer-2 chain sold more than $50 million of NFTs.

Blast had also the largest increase of wash trade numbers in a month, with more than $1.2 million, a whopping 931.23 percent jump since April.

NFT market slumps over 7%: Ethereum leads, Polygon shines with 27% surge - 2
CryptoSlam: Ranking of blockchains by volume sold in 30 days| Source: CryptoSlam

Most expensive NFTs

In terms of individual pieces, Azuki #3374 from the Ethereum blockchain sold for a substantial $393,112 — the highest-priced cryptographic token of the week.

The sale was then followed by another notable one on the Bitcoin Blockchain, where an ordinal inscription sold for $305,258. Solana’s Boogle 061 sold for $206,936.

CryptoPunks 741 was the highest-priced NFT for the month of May, bringing in $792 046 on the 13th. Second place went to another Bitcoin Ordinal inscrip-tion, which sold for $681.497. 

The third most expensive NFT was CryptoPunks #3619. It was sold for 215 Ethereum by malcode.eth, which translates to $627.990. The next highest NFT in May was Azuki #3374. It was then followed by CryptoPunk #4926 which brought its owner $329.252.

NFT Collection Rankings

The top NFT collection for the past week was Uncategorized Ordinals, with sales of $7,810 518. This is despite the fact that the number had decreased by 15.31% from the prior week. Guild of Guardians: Immutable X ranked second, as sales rose 18.48%. 

DMarket was third, Nodemonkes fourth and Bored Ape Yacht Club (BAYC), the fifth place collection.

NFT market slumps over 7%: Ethereum leads, Polygon shines with 27% surge - 3
NFT Collection Rankings by 7-Day Sales Volume | Source: CryptoSlam

Bitcoin’s collection of Uncategorized Ordinals maintained the top spot for the month with sales exceeding $48.6 millions. The figure represents a worrying 70.13% drop in monthly sales volume. 

Blast’s Fantasy Top was ranked second in terms of NFT sales for May. Its volume soared by 674.89%, reaching more than 46 million dollars.

Guild of Guardians also saw a significant increase in monthly sales, with a 67% jump to move it up into the fifth position. 

“This article is not financial advice.”

“Always do your own research before making any type of investment.”

“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”

Source: crypto.news

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