NFT Sales Spike 12.62% Higher Than Last Week, Breaking Two-Month Downturn

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Parsed data from the week spanning October 14-21, 2023, reveals an upward trend in non-fungible token (NFT) sales, with a 12.62% surge from the previous week. Both buyer and seller participation swelled, by 15% and 17% respectively, resulting in approximately $70.51 million in NFT transactions.

NFT Sales Break Free From Two-Month Dip

Following a persistent downturn in weekly sales over the past two months, this week witnessed a rebound in NFT sales. Approximately $70.51 million worth of NFT transactions were logged across almost two dozen blockchains. Ethereum reigned supreme in this week’s NFT trade volume with $36.96 million, marking a 16.09% escalation from the week before. With $36.96 million this week, Ethereum’s NFT sales account for 52.41% of the week’s aggregate. Statistics were recorded by the NFT aggregation site cryptoslam.io.

Ethereum’s NFT supremacy was trailed by Mythos, which recorded $9.54 million, a 5.61% uptick, and Solana, which posted $6.69 million, a sizable 25.31% jump. Immutable X ($4.99M) and Polygon ($3.86M) completed the top five, while Bitcoin ($2.99M) clinched the sixth spot in the NFT sales ranking this week. The most lucrative collection this week was Mythos’ Dmarket, generating $9.48 million in sales, with Gods Unchained falling closely behind at $4.76 million.

The Bored Ape Yacht Club (BAYC) registered $4.31 million in sales, followed by Winds of Yawana, which raked in $3.57 million from NFT trades. Sorare took the fifth spot this week, with sales totaling $2.3 million. Over the seven-day period, roughly 1,602,001 NFT transactions were tracked, a 2.34% decrease from the previous week. The week’s highest-grossing NFT sale was Cryptopunk #9611, which fetched $250,556 two days ago. This sale was succeeded by a Cardano NFT named Cardanians Loyalty, which was purchased for $159,096.

One of BNB’s Halmonious Realms NFTs was sold for $50,000 and an unclassified Ordinal inscription fetched $30,463. The fifth most expensive NFT sale this week was a Solana-based digital collectible, Mad Lads #6041, which was sold for $15,116. Despite the recent uptick in NFT sales, the continuance of this trend remains uncertain. Presently, a significant majority of today’s NFTs are valued at 90% less than their peak prices.

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