NFT Sales Fall 20% In The Past 24 Hours

The non-fungible token market appears to have taken a short recess after experiencing a robust bull run, marked by skyrocketing trading sales volumes and floor price values.

The non-fungible token market appears to have taken a short recess after experiencing a robust bull run, marked by skyrocketing trading sales volumes and floor price values. The NFT market retested fresh Bull Run last week after Ethereum-based non-fungible token collections led by the globally acknowledged Pudgy Penguins exploded over 70% in trading sales volume and floor price value.

However, NFT sales have taken a slight hit in the past 24 hours, with the global sales volume dropping by 20% to reach $22 million. This downturn comes after the recent Ethereum NFT bull run, which fueled the global NFT weekly sales volume past $300 million, eventually fading.

Non-fungible tokens hosted on Bitcoin, the blockchain network renowned in the NFT market for powering Runes, Ordinals, and BRC-20 NFT collections, and Solana, an open-source blockchain network that supports smart contracts, including NFTs and various decentralized applications, have also recorded negative growth. In the past 24 hours, the Bitcoin-based NFTs have raised a trading sales volume of $3.02 million, while the Solana-based NFTs have amassed a trading sales volume of $2.4 million.

Top Selling Ethereum NFTs In The Past 24 Hours

Despite a short recess in the Ethereum NFT market, Pudgy Penguins, a non-fungible token series that features a limited edition of 8,888 cartoon penguin birds hosted on the Ethereum blockchain network, is the top-selling NFT collection in the NFT market. In the past 24 hours, the Pudgy Penguins NFT collection has amassed a trading sales volume of $1.4 million. During this period, Penguin’s NFT sales volume has plunged by 25% from the past day.

Blue-chip Azuki, a non-fungible token collection from the digital asset incubation studio Chiru Labs featuring a fixed supply of 10,000 anime-themed NFTs hosted on the Ethereum blockchain network, is today’s second top-selling non-fungible token collection in the NFT market. In the past 24 hours, the Azuki NFT collection has recorded a trading sales volume of $1.2 million. The Azuki NFT sales volume has plunged by 55% from the past day.