Mid-May NFT Sales Drop by 8.97%, Top 4 Chains See Reductions

Between Might 10 and Might 17, non-fungible token (NFT) gross sales totaled $150.56 million, marking an 8.97% decline from the earlier week’s figures. NFT gross sales have persistently decreased on a weekly foundation, as 4 out of the highest 5 blockchains by gross sales quantity skilled reductions throughout this era.

NFT Market Sees Constant Decline

In February, from Feb. 17 to Feb. 24, NFT gross sales reached $306 million. Though cryptocurrency costs climbed in March, NFT gross sales skilled a decline, with April figures equally underwhelming. Might follows this development, as final week’s digital collectible gross sales dropped by 13%, and this week noticed an extra 8.97% lower, totaling $150.56 million.

This marks a weekly gross sales quantity loss exceeding half of February’s seven-day report. Moreover, Ethereum has persistently held the second place in weekly gross sales for weeks, whereas Bitcoin has dominated, surpassing Ethereum every week. In the newest week, Bitcoin led the pack with $48.32 million in NFT gross sales. Regardless of the lead, Bitcoin-centric NFT gross sales have been down 4.42%.

Ethereum secured the second spot with $37.6 million in NFT gross sales, an 8% decline from the earlier week. Solana’s NFT gross sales reached $18.82 million, marking a 26.71% lower. Blast, a newcomer to the highest 5 NFT gross sales ranks, reported $14.87 million in digital collectible gross sales, down 25.67% this week. Polygon claimed the fifth place with $11.95 million in NFT gross sales, displaying a 16.94% enhance from the earlier week.

Relating to NFT collections, Uncategorized Ordinals generated $17.79 million in gross sales this week, a 24.66% weekly lower. Blast’s Fantasy High ranked second with $14.85 million in gross sales. Mythos Dmarket positioned third with $5.8 million, adopted by Bitcoin’s Nodemonkes in fourth with $5.58 million. The fifth prime assortment was Core BRC20s, which achieved $3.43 million in gross sales.

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The most costly NFT offered this week was Cryptopunk #741, fetching $792,046. The second-highest sale was an Ordinal inscription that offered for $681,497. Mad Lads #3919 went for $73,368, whereas Earthnode #184 from Cardano offered for $56,026. Lastly, the fifth costliest NFT, from the Blast chain, offered for simply over $39,000.

What do you consider the week’s newest NFT gross sales? Share your ideas and opinions about this topic within the feedback part beneath.

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