Decline in NFT Sales

The past week has brought another decline in the volume of NFT token sales, marking a 13.72% reduction compared to the previous week. This marks the fourth consecutive week of decreasing activity in the NFT market, contrasting with the record-breaking performance seen in other sectors in March.

NFT Sales Drop by 13.72% Compared to the Previous Week

Both centralized and decentralized cryptocurrency exchanges experienced a peak period in March, but NFT-focused exchanges have been witnessing declines week after week. This trend continued between March 29th and April 5th, 2024, with a 13.72% decrease in sales, alongside weekly declines on six leading blockchains supporting NFTs. Sales related to Bitcoin took the lead, amassing $66.67 million, despite a 17.99% drop compared to the previous week.

Ethereum followed closely with $63.98 million in sales, experiencing an 8.89% decrease. Solana, Mythos, and Polygon saw declines of 12.70%, 4.36%, and 19.7%, respectively, compared to the previous period, rounding out the top five blockchains in terms of NFT sales volume. Leading in NFT collections was Uncategorized Ordinals, gathering $21.11 million, while the Bored Ape Yacht Club (BAYC) collection claimed the second spot with $6.68 million in sales for the week, according to statistics from cryptoslam.io