NFT Sales Drop 59% in 2nd Week of 2023; Ethereum Controls Leading 20 Blockchains with 75% of Sales

Non-fungible token (NFT) sales have actually dropped considerably in contrast to the 7 days prior, as NFT sales are down 59.35% today. Throughout the previous 7 days, $208.68 million in NFT sales were taped, with $157.20 coming from the Ethereum blockchain. The top-selling NFT collection this previous week was the Bored Ape Luxury Yacht Club (BAYC), with $16.69 million in sales, relating to 7.998% of the $208 million in sales today.

Ethereum and Solana Lead NFT Sales Amongst Leading 20 Blockchains Amidst Lower Digital Antique Sales Today

Throughout the very first week of 2023, NFT sales were up 26% compared to the last week of 2022. Nevertheless, on Sunday, Jan. 15, 2023, sales were down 59.35% from the previous week. Of the leading 20 blockchains that release NFTs, Ethereum represented 75.33% of the sales taped in between Jan. 8 and Jan. 15, 2023.

Solana held the second-largest position in regards to NFT sales, with 18.04% of the week’s overall sales, or $37.66 million. Ethereum and Solana were followed by Immutable X, Binance Coin (BNB), and Cardano as the leading 5 chains in regards to today’s NFT sales information.

The leading 5 NFT collections today in regards to overall sales consist of the Bored Ape Luxury Yacht Club (BAYC), Mutant Ape Luxury Yacht Club (MAYC), Azuki, Art Blocks, and Bored Ape Kennel Club. These are followed by Otherdeed, Sorare, The Captainz, Beanz, and Mutant Hound Collars.

According to information from nftpricefloor.com, the BAYC collection had the greatest flooring worth in regards to NFT flooring worths on Sunday, Jan. 15, 2023. BAYC was followed by Cryptopunks, MAYC, Autoglyphs, and The Sandbox, respectively. While the BAYC flooring worth at the time of writing was 70.408 ETH, the Cryptopunks flooring worth on Sunday was 66.19 ETH.

Recently’s NFT sales saw an increase of trading from the Mineablepunks collection, as the leading 5 most costly NFTs offered were from that collection. Today, data from cryptoslam.io program that the most costly NFT offered was Cryptopunk # 4,608, which offered 5 days ago for $329,000.

The second-most-expensive NFT offered throughout the previous 7 days was Cryptopunk # 6,994, which offered 3 days ago for $283,000. The leading 2 most costly NFTs offered today were followed by Otherdeed # 89,263 and Bored Ape Luxury Yacht Club (BAYC) # 7,576.

NFT collections that had much better sales today than the previous week consist of Artblocks, which saw a 62.94% boost, Mutant Ape Luxury Yacht Club (MAYC) increased 8.10%, Otherdeed sales increased by 11.97%, and Beanz has actually increased by 32.82%.

In regards to blockchains, Binance Coin (BNB) saw a 62.20% boost in NFT sales, Circulation sales were up 77.99%, Immutable X leapt 8.51%, Solana increased 3.11%, and Ronin NFT sales increased by 84.75% over the previous 7 days. Blockchains that saw sales decrease because recently consist of Ethereum, Cardano, Wax, Algorand, and Cronos.

What do you believe is triggering the decrease in NFT sales today, and do you believe this pattern will continue in the coming weeks? Share your ideas in the remarks listed below.