Weekly NFT Sales Dip — Ethereum Outshines Bitcoin, Solana and Avalanche Record Gains

• The latest statistics indicate a further decline in non-fungible token (NFT) sales this week, showing a 5.05% decrease compared to the previous week. Sales of NFTs reached $297 million, with Ethereum leading the way this week. Ethereum’s sales amounted to $106 million, overtaking Bitcoin’s $70 million in sales over the same seven-day period.

Ethereum Leads in Weekly NFT Sales, Outperforming Bitcoin as Digital Collectibles Market Experiences Overall Decline

Sales of non-fungible tokens (NFTs) have seen a 5.05% decrease from the previous week, yet there’s been an 82.40% rise in buyers and a 77.46% increase in sellers. Recently, Bitcoin had been leading in sales, but Ethereum has now captured the leading position with $106 million in NFT sales, marking a 28.15% increase from last week. Meanwhile, Bitcoin’s total sales amounted to $70,367,439, reflecting a 35.25% downturn according to cryptoslam.io metrics.

NFT sales between Jan. 13, 2024 to Jan. 20, 2024, according to cryptoslam.io metrics.

Solana witnessed a 35.07% uptick in sales, reaching $59 million over the past week. In contrast, Polygon experienced a downturn, with sales totaling $25.33 million, a 43.02% decline from the previous week. Among the top five blockchains for NFT sales, Avalanche enjoyed a 22.13% increase, culminating in $14.24 million in volume. Arbitrum also stood out with a significant 26.02% increase, securing $3.27 million in NFT sales over the same seven-day period.

This week’s leading NFT collection was Solana’s Cryptoundeads, achieving $15.9 million in sales. Trailing behind was Bitcoin’s Uncategorized Ordinals, with a total of $13.32 million in NFT sales, a decrease of 41.53%. From the Bitcoin blockchain, only two collections made it into the top ten, with Bored Ape Yacht Club (BAYC) and Cryptopunks also securing spots in the top ten rankings.

The highest-priced NFT sold this past week was “Lif3 V3 Positions NFT #9,” commanding a price of $698K. Following closely was Polygon’s “Lif3 V3 Positions NFT #15,” which sold for $245K. In third place was Solana’s “Boogle #047,” which fetched $219K three days ago. Additionally, notable sales were observed on the BNB, Bitcoin, and Flow blockchain networks, with high-priced sales ranging from $40K to $73K.

What do you think about this week’s NFT sales action? Share your thoughts and opinions about this subject in the comments section below.