Ethereum remains the dominant force in non-fungible token (NFT) sales, leading for the third consecutive day with a 63% dip on Friday. Bitcoin and Solana follow with lower sales volumes, as Bitcoin NFTs drop below US$10 million for the first time this week. Despite the overall market downturn, fluctuations in activity across different blockchains remain evident.
Ethereum Dominates NFT Sales for Third Consecutive Day
According to data from CryptoSlam, Ethereum has maintained its position as the leading blockchain for non-fungible token (NFT) sales for the third consecutive day. However, Ethereum sales witnessed a substantial 63% decline on Friday, falling from $32.81 million on Thursday, which was buoyed by the sale of a single CryptoPunk NFT for $16.38 million.
Bitcoin and Solana ranked second and third, respectively, in terms of sales volume for the same period, with $7.99 million and $6.10 million in sales. Notably, Bitcoin NFTs experienced a 23% decrease in sales volume, marking the first time this week that they have fallen below $10 million.
Solana also experienced a moderate decrease of 7.62% in sales.
Despite the recent downturn in the market, the NFT space continues to exhibit fluctuations in activity across different blockchains.
BNB Chain emerged as a notable performer on Friday, registering a 12% increase in sales revenue to $1.22 million. The surge was attributed to the "lucky start" collection, which garnered $668,236 of the total sales.
The fluctuation in sales volumes highlights the dynamic nature of the NFT market, with different blockchains experiencing varying levels of activity. While Ethereum remains the dominant platform, other chains such as BNB Chain are showing strong growth potential.
The NFT market is known for its volatility, and its recent downturn could be attributed to factors such as the broader crypto market conditions and the fluctuating interest in specific collections. However, the continued activity and the emergence of new collections suggest that the NFT space remains a significant force in the digital art and collectible market.
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