Crypto Downturn Shakes Digital Collectible Markets as NFT Sales Slip 42% Lower Than Last Week
Non-fungible token markets are starting to feel the pain from the crypto market carnage that’s taken place during the last week. Over the last seven days, NFT sales have dropped 42.85% lower than the previous week. NFT sales on Ethereum were hit the hardest as the blockchain saw a 44.83% loss in NFT sales volume this past week.NFT sales are down this week as seven-day sales metrics show across 16 different blockchains, NFT sales slipped 42.85% lower than last week.
This week, $939.85 million in NFT sales were recorded which is 42% less than last week. This was among 266,918 buyers and 1,114,756 transactions. Solana sales are down 19.65%, Polygon NFT sales slid 35.63%, Flow sales are 36.19% lower, and Avalanche NFT sales are down 29.26%. Tezos, however, saw NFT sales increase 51.09% higher than the week prior.Despite Ethereum-based NFT sales dipping by more than 42%, ETH-based NFTs saw $828.7 million in sales which is 88.17% of the $939.8 million in seven-day NFT sales. The top NFT collection this past week is the Otherdeed NFT compilation which has seen $189.3 million in sales.
An NFT called Ken Hicks sold for 332.52 ether or $849K and Otherdeed 54 exchanged hands for $791K or roughly 50,000 APE five days ago. Otherdeed 66,813 sold a day ago for $776K or 303 ether and Otherdeed 26 exchanged hands for $733.5K or 249 ether five days ago.
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