NFT Sales Tank 7.07% This Week

The non-fungible token market has taken another short break after experiencing a short, vigorous market rally fueled by the recent launch of the ApeChain blockchain network, among other factors.

The non-fungible token market has seen a slight decline this week after experiencing a brief rally fueled by the recent launch of the ApeChain blockchain network, among other factors.

ApeChain, an Ethereum layer 3 blockchain network built on the Arbitrum layer-two scaling solution, was launched last week and quickly became a hot topic within the NFT community. However, this excitement seems to have had a limited impact on overall NFT sales, which have declined by 7.07% in the past week.

According to data compiled by cryptoslam.io, a renowned crypto market data aggregator and an on-chain multi-chain non-fungible token explorer, the global non-fungible token market has seen a slight decrease in trading sales volume this week.

In the past seven days, the NFT market has recorded a trading sales volume of $88 million, which marks a 7.07% drop compared to the previous week.

Despite this decline, the number of investors buying this NFT dip has increased slightly this week. In the past seven days, the global NFT market has seen more than 700,000 collectors purchasing NFTs. During this period, nearly 400,000 collectors have sold their NFTs, pushing the number of NFT transactions above 1.6 million.

NFT transactions have reduced by 23% this week compared to the past week.

Ethereum, the blockchain network known for hosting the majority of blue-chip non-fungible token collections like Bored Ape Yacht Club, Azuki, and Mutant Ape, is this week’s top-traded blockchain network in the NFT market. In the past seven days, the Ethereum-based NFT series have amassed a trading sales volume of $30 million. Ethereum NFT sales volume has plunged 5.28% this week from the past week.

Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, is this week’s second most-traded blockchain network in the NFT ecosystem. In the past seven days, the Solana-based NFT collections have amassed a trading sales volume of $19 million, representing a 24% surge from the past week.

Bitcoin, the blockchain network renowned in the global NFT market for hosting Ordinals, Runes, and BRC-20 non-fungible token collections, is this week’s third most-traded blockchain network in the NFT ecosystem. In the past seven days, the Bitcoin-based NFT collections have recorded a sales volume of $13 million. During this time, the trading sales volume of Bitcoin NFTs has dropped by 36% from the past week.

The Mythos Chain, a PolkaDot parachain network optimized for in-game assets that power the Mythical Games NFT ecosystem, and Immutable X, an EthereumLayer-2 scaling solution network created to enable instant trade execution, are this week’s fourth and fifth most trade blockchain networks. In the past seven days, the Mythos Chain and Immutable NFTs have amassed a sales volume of $10 million and $3 million, respectively.

Top Selling NFTs In The Past 7 Days

1. Froganas NFT Collection

Froganas, a non-fungible token collection by the digital artist Tee featuring a limited edition of 5,555 humanoid frogs exclusively hosted on the Solana blockchain network, is this week’s most-selling NFT collection in the NFT ecosystem. In the past 24 hours, the Froganas NFT collection has recorded a trading sales volume of $5.7 million. During this time, the Froganas NFT trading sales volume has surged by 123% from the past week.

2. DMarket NFT Collection

DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted exclusively on Mythos Chain, a PolkaDot parachain network optimized for in-game assets that power the Mythical Games ecosystem, is this week’s second most-selling NFT collection. In the past seven days, the DMarket NFT collection has raised a trading sales volume of $4.94 million. DMarket NFT sales have plunged 5.41% this week from the past week.

3. Guild Of Guardian NFT Collection

Guild of Guardian, a non-fungible token collection from Guild of Guardians, a renowned mobile role-playing game that allows players to take their teams of heroes through challenging dungeons to collect resources, is this week’s third most-selling NFT collection. In the past seven days, the Guild of Guardian NFT collection has raised a trading sales volume of $3.0 million, representing a 0.41% spike from the past week.

4. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, an all-time top-selling NFT collection from the digital asset firm Yuga Labs that features a limited supply of 1