The non-fungible token market has seen slight fluctuations over the past few days, with slightly lower transaction sales and reserve prices. According to the latest statistics, the global NFT market has seen a decline in transaction sales over the past seven days, totaling $82.37 million. The volatility in the NFT market can be attributed to the recent drop in the crypto market, which has kept the flagship "Bitcoin" below $70,000 and Ethereum below $2,500.
It is worth noting that Bitcoin and Ethereum crypto assets are the largest liquidity providers in the NFT market. Therefore, the NFT market is greatly affected by the rise and fall of Ethereum and Bitcoin prices and other factors that affect their trading activities. Recently, the crypto market has experienced intense volatility after Trump's chances of winning the election declined.
NFT sales dropped by 4.75% in the past 7 days
Data compiled by crypto market data aggregator and multi-chain non-fungible token collectibles browser CryptoSlam.io shows that the NFT market has seen a sharp drop in transaction sales over the past week. From Sunday, October 27, 2024 to Sunday, November 3, 2024, the global NFT market had a cumulative transaction sales volume of $82.37 million, down 4.49% from the previous week.
During this period, the number of investors who purchased non-fungible tokens has dropped significantly in the past week. In the past seven days, the global non-fungible token market has seen 883,000 crypto traders buy NFTs. On the other hand, the number of traders who sold their NFTs has dropped by 32% compared to the previous month. Trading activity in the NFT market has seen NFTs traded over 1.6 million times.
Ethereum, the blockchain network that supports Ether and powers most of the blue-chip NFT collectibles in the NFT market, was the most popular blockchain network for transactions in the NFT market over the past week. In the past seven days, Ethereum-based NFT collectibles raised $27 million in transaction sales volume. During this period, Ethereum NFT sales fell 0.94% from the previous week.
Bitcoin is a highly respected blockchain network in the NFT market, powering runes, ordinals, and BRC-20 NFT collectibles, and is the second most popular blockchain network in the NFT market. In the past seven days, Bitcoin-based NFT collectibles attracted $14 million in sales. Unlike the negative growth recorded by Ethereum, Bitcoin NFT transaction sales increased by 18% from last week.
Solana, an open-source blockchain network that supports smart contracts, including non-fungible tokens and various decentralized applications, was the third most popular blockchain network in the NFT market in the past week. In the past seven days, Solana-based NFT collections raised $14 million in transaction sales. However, Solana NFT transaction sales fell 27% from last week.
The best-selling NFTs of the past 7 days
1. DMarket NFT Collectibles
2. Guild Of Guardians NFT Collection
3. $? BRC-20 NFT collectibles
4. DogeZuki NFT Collectibles
5. Bitcoin Puppets NFT Collection
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