Over the past week, the NFT market has generally been a mixed bag.
NFT sales volume decreased by 11.92%, totaling $81.8 million, while the number of NFT buyers increased by 173.25% to 327,594.
Let’s take a look at some of the key metrics that have characterized the NFT market over the past seven days based on data from CryptoSlam.
Main blockchain performances
Ethereum (ETH) continued to dominate in terms of NFT sales volume. Despite falling more than 10% from the previous week, the network still managed to raise over $28 million — a figure accompanied by a significant increase in buyer activity, which rose by 42.5%.
Solana (SOL) came in second place, generating over $16 million in NFT sales. However, this figure represents a 15% decrease, despite the network seeing a staggering 245.93% increase in buyers. It also saw a nearly 6% decrease in fake trading activity.
Bitcoin (BTC) held onto the third spot for the third week in a row, although its $13.8 million in revenue reflected a 6.1% decline from the previous week’s figures.
Fake trading on the network increased by more than 4%, although the amount generated from this activity, at $410,863, pales in comparison to other blockchains. For example, fourth-place Polygon (MATIC) had the highest amount of money from fake trading at $9.1 million. The amount was significantly higher than the $6.6 million Polygon made from owner-to-owner NFT sales.
Mythos Chain rounded out the top five, seeing the biggest drop in NFT sales volume, falling by about 30% to just over $5 million.
Featured Collections & Sales
When it comes to NFT collections, Mythos Chain surprisingly produced the best-selling NFT collection this week, with its DMarket collection generating $4.99 million in sales over seven days.
However, the amount is still about 30% lower than last week’s levels, with the number of transactions registered for collection also down 33%.
Meanwhile, second-placed Ethereum-hosted Sorare showed resilience, with sales up 8.3% to $3.65 million. The group’s transaction volume was up about 8%, while buyer activity increased by more than 10%.
The surge in activity coincides with the start of the popular European holiday season. soccer Leagues including the English Premier League and La Liga, which may have caused a renewed interest in the fantasy sports platform.
However, the standout performer this week was Bitcoin Uncategorized Ordinals, which saw a staggering 864.66% increase in sales to $3.1 million.
Top NFT Sales This Week
In terms of individual NFT sales, one of the most notable transactions was the unlisted Bitcoin Ordinal which sold for a staggering $2.4 million.
In contrast, Bored Ape Yacht Club #2579 sold for $342,542 on Ethereum, a huge amount but small compared to Ordinal’s sale. Other notable transactions of the week included Solana’s Froganas #4559, which fetched $82,689, and BNB Paraluni Perpetual Bonds, which sold for $134,751.
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