NFT volume sales fell by 44,70% in the last week to $63,33 million, despite a sharp increase in buyer and seller address numbers across the entire market.
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- NFT sales dropped 44.70%, to $63.33 millions. Transactions fell 14.13%, to 802,330.
- Addresses of buyers increased 30.48% from 227,316 to 254,373, while addresses of sellers rose by 54.64%.
- Ethereum had the highest sales with 35.56 Million despite having a decline of 49.01% in a week.
- Bitcoin ranked second, with an $8.68-million total. Sales fell by 59.53% while buyers increased by 41.11%.
- Courtyard was the top seller with $6.09million, while Bitcoin NFTs sold for $2.14million.
Data from CryptoSlam captured on August 29th with the 7-day filter applied shows that global NFTs sales have declined from approximately $114.5 millions to $63.33million.
Seller addresses also increased by 54.64%, from 247,373 to 22 7,316. Buyer addresses rose 30.48%, to 227 7,316. These figures are based on blockchain addresses, not confirmed users.
In the reverse direction, transactions fell by 14.13 % to 802,330. More addresses were involved in transactions, but there was a lower number of them. This suggests that the activity is spread out over more address bases.
As the crypto markets retreated, so did NFT. Bitcoin traded near $77,600Ether traded for around $2,440 in the 29th of August. Around $2.71 trillion was the global capitalization of crypto markets, which is down by more than 2 percent in 24 hours.
Both the NFT decline and the cryptocurrency drop occurred in the same time period. However, the data available does not prove a causal link between the two.
Ethereum tops NFT Sales with $35,6 Million
Ethereum was the biggest NFT Blockchain with 35.56 Million in organic sales. CryptoSlam reported that the network had also recorded $1.66M in wash-trading volumes, separate from organic sales.
Ethereum’s volume total, including washed trading, hit $37.22 million. The number of buyers increased by 34.34%, to 33105 despite a drop in sales.
Bitcoin came in second place with $8.68million sales. That’s a drop of 59.53%. The wash volume was $85,595, which brings the total to $8.77million. Bitcoin buyers addresses increased 41.11% from 10,161 to 11,161.
Polygon’s organic sales fell by 34.29 percent to $7.03million. However, wash volumes were more than two times the organic sales figure at $18.19 millions. The number of Polygon buyers dropped by 18.53%, to 85 607.
Base ranked fourth, with sales of $3.57 millions, down 13.26%. However, its customers increased by 41.61%, to 3,070. Network washes accounted for $4.80 in volume, which brought the total to $8.37.
BNB Chain was next with sales of $2.81 millions, down 20.47 %, while buyer addresses increased 90.16%, to 16,915. Solana, the leading network, had sales that increased by 11.17% and buyers who rose 42.97%.
Approximately $59.56 millions, or 94%, of the global organic NFT market was accounted by six networks. Immutable has added $1.87M after an increase of 18.38%.
Courtyard Tops Weekly NFT Collection Sales
Polygon Courtyard, which is based on Polygon polygons, was the most popular collection. Its total sales fell 37.755%. There were 98.531 sales, a 55.66% drop, with 17,969 buyers and 11,755 sellers.
Argonauts, a cryptocurrency-based company based on Ethereum, ranked second in the rankings with $5.70 millions across 11,271 transaction. CryptoSlam did not show a percentage change from the previous period for the collection. This suggests that the dashboard was either unchanged or the data wasn’t available.
Bitcoin’s BRC-20 $X@AGI nFTs came in third place with 2,58 million dollars, an increase of 74.89%. The total was a result of only three transactions, with three buyers and three sellers.
CryptoPunks came in second with $ 2,07 million, up 7.64%. This collection had 19 transactions involving 18 buyer addresses and 17 seller addresses.
Beezie, a base-based app, generated $1.88m, a decrease of 33.29% from 11186 transactions. There were only nine addresses of buyers, while there were 225 addresses of sellers.
Blokyz was ranked seventh with $1.8 million and 4,212 transactions. Pudgy Penguins was ranked eighth. Pudgy Penguins revenue increased by 27.19% from $1.04 to $1.0 million, while transactions grew 12.79%.
Bored Ape Yacht Club was next with sales of $977.831, down by 23.03%. There were 53 buyer addresses and 27 transactions.
NFTs with high value Bitcoins dominate NFT sales
About two days before this snapshot, the $X@AGI BRC-20 BRC-20 produced the largest single sale for the week at $2.14M. This was settled with 27.1798 BTC. CryptoSlam classified it as a NFT transaction, but dashboard information is not sufficient to understand its underlying economic purposes.
It represented 83% of the $2.58million weekly sales volume of this collection and 3.4% for global NFT. This concentration of sales means that the weekly growth in volume for this collection is largely due to one transaction.
Flying Tulip put #8494 placed second, with $484 791 and 200 wrapped Ether settled seven days prior. Flying Tulip’s official material describes putNFTs by Flying Tulip as ERC-721 tokens, which encode perpetual put and redemption positions. This transaction involved tokenized positions in the financial market, rather than a collectible digital art or a profile picture.
The third-placed $X@AGI BRC-20 BTC was sold four days prior for $5.59 BTC or $442.220.
One NFT in the same collection was sold at $434.085, which was settled with 5.5999 BTC about an hour prior to the capture of the screenshot.
Five days prior, the collection had also generated the fifth largest sale. It was valued at 386,846 BTC and paid for in 5 BTC. Four out of five of the largest sales were $X@AGI’s BRC-20 NFTs. These transactions show that the table of top Bitcoin sales was shaped by a handful of large-scale Bitcoin trades.
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Source: crypto.news
