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Cryptocurrency News Articles
NFT Sales Volume Drops by 6% to $84.6 Million Amidst the Recent Crypto Market Price Drop
Nov 03, 2024 at 01:19 am
Even though the crypto market showed mild signs of a positive trajectory recently, all the gains seem to have erased now.
Non-fungible token (NFT) sales volume has dropped by 6% to $84.6 million amid the recent crypto market price drop, which has erased all the gains made recently.
According to CoinMarketCap data, the global crypto market cap has dropped by 1.39% at press time to $2.31 trillion.
Last week, NFT sales volume stood at $89.1 million. However, according to recent data from CryptoSlam, NFT sales volume has slumped by 6%.
Ethereum NFT sales drop by over 6.6%
Ethereum NFT blockchain NFT sales volume stood at $31.1 million last week. However, the latest data shows that sales have gone below the $30 million mark to hit $28.3 million.
Comparatively, this week has been on the lower side, with a 6.6% drop in the last seven days. Interestingly, the number of NFT buyers on the Ethereum blockchain increased by 17.4% to 56,021.
When it comes to the second-ranking, Solana has retained the position for two weeks straight, even though it was 11.3% down in the last seven days.
According to the data, Solana blockchain’s NFT volume stood at $16.1 million. The number of NFT buyers has also seen a decent 27.7% and rose to 385,272.
Bitcoin (BTC) has exhibited the smallest sales drop, with a 2.78% loss and standing at $14.12 million.
Mythos Chain (MYTH) stood in fourth place at $10.9 million, with a 6.65% drop during the last seven days.
The fifth place was earned by Immutable (IMX), which showed a modest 6.2% in NFT sales volume. Ethereum accounted for the majority of wash trading at $3.66 million.
DMarket stays unhinged at first-ranking
The sales volume of DMarket stood at $5.744 million, with a 11.62% drop during this timeframe.
Guild of Guardians Heroes 2 bagged the second place with $3.28 million in sales.
The latest data shows that the following NFT collections topped the sales in the last week:
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