NFT Sales Experience Slight Dip, but Buyer Numbers Skyrocket by 150%

In the fast-paced world of non-fungible tokens (NFTs), the market continues to evolve and surprise, with new trends and fluctuations appearing on a regular basis. Recent data from CryptoSlam, a platform that provides NFT data, reveals an interesting development: while sales of NFTs experienced a slight decline last week, the number of buyers increased significantly, reaching an impressive 150% compared to the previous week.

According to the figures released by CryptoSlam on the 19th, weekly sales of NFTs dropped by 4% from the previous week, amounting to $142.8 million. Although this decline might raise eyebrows, it is essential to note that the number of transactions actually saw a modest increase of 1.09% to a total of 2.26 million. The most striking aspect, however, lies in the surge of NFT buyers, which soared by 147% to an impressive 600,000.

Top NFT Collectible Sales in 7 days | Source: CryptoSlam

Analyzing the sales by blockchain, Ethereum NFTs still dominate the market, with sales reaching $84.24 million, accounting for 58% of the total. Despite the slight increase of 2.66% from the previous week, Ethereum maintained its leading position. The number of transactions on the Ethereum blockchain also experienced a noteworthy rise of 16% to 440,000, while the number of buyers increased by 96% to 94,431.

Bitcoin NFT sales, on the other hand, faced a minor setback, declining by 4% to $20.28 million. Nevertheless, Bitcoin maintained its second position in the market with a 14% share. The number of transactions for Bitcoin-based NFTs decreased by 14% to 47,400, while the number of buyers increased by 66% to 34,378.

In terms of alternative blockchains, Solana and BNB Chain managed to secure the third and fourth positions, respectively, while Mytos Chain and Polygon followed in fifth and sixth places.

The top-selling NFT collection of the week was the Uncategorised Ordinals, which experienced a sales increase of 2.68% to $11.6 million. The collection in second place was 3AC’s NFT collection auction project called “The Grails II,” which made a significant comeback after facing bankruptcy last year, with sales amounting to $7.675 million. Another notable collection, the Boring Monkey Yacht Club (BYAC), achieved third place with sales of $7.09 million.

When examining the highest-selling records of the week, Ethereum, BNB Chain, and Bitcoin-based NFTs demonstrated an even distribution, occupying the top 10 spots. ‘The Grail 2’ #1 claimed the number one position, fetching an impressive $5.4 million.

In terms of the top NFT marketplaces based on trading volume, the rankings remained consistent, according to DappRadar. Blur secured the leading position with $121.09 million in sales, experiencing a slight decline of 6.1% from the previous week. OpenSea, a well-established marketplace, maintained its second place, with sales amounting to $33.74 million, marking a decline of 11%. Immutable X took third place, recording sales of $5.78 million, which represented a 16.82% decrease from the previous week.

Looking at the number of traders on these platforms, Blur had 17,260 weekly traders, experiencing a 2% decrease, while OpenSea saw an increase of 5% with 125,866 weekly traders.

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