The non-fungible token market has witnessed slight turbulence in the past several days, marked by a slight decline in trading sales volume and floor prices. According to the latest statistics, the global NFT market has plunged in trading sales volume, totaling $82.37 million in the past seven days. The NFT market shake-up can be attributed to the recent crypto market slump, which has held the flagship “Bitcoin” below the $70,000 level and Ethereum below $2500.
Source: CoinMarketCap.com, Bitcoin trading activity in the past 7 days
It’s worth noting that Bitcoin and Ethereum crypto assets are the largest liquidity providers in the non-fungible token market. Therefore, the non-fungible token market is heavily influenced by the fall and rise in the prices of Ethereum and Bitcoin and other factors that affect their trading activities. In a recent incident, the crypto market has seen intense volatility following Trump’s decreasing victory odds.
This is probably the most reasonable prediction imo. Trump wins the swing states by narrow margins and makes gains in some weaker Democratic strongholds. Nothing crazy: just a Trump win. pic.twitter.com/ZAWQdMqHmo
— Joel Phelps (@JoelIPhelps) November 4, 2024
NFT Sales Dip 4.75% In The Past 7 Days
Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token collection explorer, shows that the NFT market has plunged in trading sales volume this past week. From Sunday, October 27, to Sunday, October 03, 2024, the global NFT market has amassed a trading sales volume of $82.37 million, representing a 4.49% plunge from the previous week.
During this time, the number of investors buying the non-fungible token dip has significantly fallen this past week. In the past seven days, the global non-fungible token market has seen 883,000 crypto traders buying NFTs. On the other hand, the number of traders who sold their NFTs has reduced by 32% from the past month. The trading activities in the NFT market have pushed the NFT transactions above 1.60 million.
Ethereum, the blockchain network hosting Ether and renowned in the NFT market for powering the majority of blue-chip NFT collections, has been the top-traded blockchain network in the NFT market this last week. In the past seven days, Ethereum-based NFT collections have raised a trading sales volume of $27 million. During this time, Ethereum NFT sales have fallen 0.94% from the previous week.
Source: cryptoslam.io, NFT trading sales volume by blockchain networks in the past seven days
Bitcoin, the blockchain network renowned in the NFT market for powering Runes, Ordinals, and BRC-20 NFT collections, has been the second most-traded blockchain network in the NFT market. In the past seven days, the Bitcoin-based NFT collections have attracted a sales volume of $14 million. Unlike Ethereum, which has recorded negative growth, Bitcoin NFT trading sales volume has surged 18% from the previous week.
Solana, an open-source blockchain network that supports smart contracts, including non-fungible tokens and various decentralized applications, has been the third most-traded blockchain network this past week in the NFT market. In the past seven days, the Solana-based NFT collections have raised a trading sales volume of $14 million. However, the Solana NFT trading sales volume has fallen by 27% from the previous week.
Top Selling NFTs In The Past 7 Days
1. DMarket NFT Collection
DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted on the Mythos Chain blockchain network, has been the most-selling NFT collection this past week. In the past seven days, the DMarket NFT collection has raised a trading sales volume of $5.7 million, representing a plunge of 7.06% from the previous week.
2. Guild Of Guardians NFT Collection
Guild of Guardians, a non-fungible token collection from Guild of Guardians, a renowned role-playing game that enables players to take teams of heroes through challenging dungeons to collect resources, is this past week’s second most-selling NFT collection in the NFT market. In the past seven days, the NFT collection has raised a trading sales volume of $3 million, representing a 1.04% decline from the previous week.
Source: cryptoslam.io, top selling NFT collections in the past 7 days
3. $?? BRC-20 NFT Collection
$??, a non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, is this past week’s tenth most-selling NFT collection in the NFT market. In the past seven days, the $?? BRC-20 NFT collection has recorded a trading sales volume of $2.3 million. The $?? BRC-20 NFT sales volume has surged 284% this past week from the previous week.
4. DogeZuki NFT Collection
DogeZuki, a non-fungible token collection with a limited edition of 2,800 digital items created on the Solana blockchain network, has been this past week’s fourth most-selling NFT collection in the NFT market. In the past seven days, the DogeZuki NFT collection has raised a trading sales volume of $2 million. During this period, the DogeZuki NFT sales volume plunged by 3.46% from the previous week.
5. Bitcoin Puppets NFT Collection
Bitcoin Puppets, a non-fungible collection that features a limited set of 10,001 hand-drawn PFPs hosted on the Bitcoin network, has been this past week’s fifth most-selling NFT collection. In the past seven days, the Bitcoin Puppets NFT collection has raised a trading sales volume of $2 million, closing our five top-selling NFT collections this past week. Bitcoin Puppets NFT sales have surged by 28% this past week from the previous week.
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