Weekly NFT Sales Drop 21% Amid Crypto Market Downturn, Cryptopunks and Pudgy Penguins Surge

by bollywoodfever · 22/06/2024

Global NFT sales fell 21% this week, surpassing $100 million across 21 blockchains. Despite the decline, Cryptopunks and Pudgy Penguins saw significant sales increases.

Bollywood Fever: Global non-fungible token (NFT) sales experienced a decline this week, dropping 21% from the previous week. Across 21 unique blockchains, the total sales just surpassed the $100 million mark over the past seven days.

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Weekly NFT Sales Fall, Cryptopunks and Pudgy Penguins Surge

NFT sales have significantly decreased this week, correlating with the broader downturn in the crypto markets. As of press time, data indicates that NFT sales reached $102,328,020 over the last seven days, according to cryptoslam.io.

This drop occurred despite a 74.62% rise in buyers and a 64.31% increase in sellers. Among the 21 chains, Ethereum led with $38.46 million in sales, though ETH-based NFT sales dipped 2.62% this week.

Polygon secured the second position in weekly sales, totaling $19.92 million, marking a 13.24% increase. Bitcoin ranked third with $17,590,362 in sales, though BTC-centric digital collectible sales fell 59.55% from the previous week.

Solana’s sales reached $14.37 million, showing a 1.69% decrease. Mythos completed the top five with $4.61 million, with sales down by 3.61%. The standout collection this week was Ethereum’s Cryptopunks, generating $4.98 million in sales, a 171.29% increase from the previous week.

Mythos’ Dmarket followed with $4.36 million in sales, a 2.74% decrease from last week. Ethereum’s Pudgy Penguins also saw a significant increase, jumping 204.25% and achieving $3,672,328 in sales.

Bored Ape Yacht Club (BAYC) placed fourth this week with $3.57 million in sales, rising 53.92%. Bitcoin Pizza digital collectibles garnered $2.43 million, although sales fell 88.91%.

The most expensive NFT sold this week was Cryptopunk #5,569, which fetched $204,066 three days ago. While Bitcoin NFT sales underperformed this week, Bitcoin has surpassed Ronin, becoming the third largest in all-time sales.

To date, Bitcoin has achieved $4.3 billion in NFT sales, a notable milestone but significantly less than the $43.88 billion sold via Ethereum. To surpass Solana, the second highest in NFT sales, Bitcoin needs approximately $1.3 billion more in sales.