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The crypto market frenzy appears to have cooled, and investors have begun shifting attention to other digital assets like meme coins and non-fungible token collections. The crypto market mania started earlier this month and has left the flagship crypto ‘Bitcoin’ soaring above $73,000 for the first time in crypto history. In this article, we shall explore the state of the NFT market in the past seven days.
Investors Buying NFTs Spike +100% Last Week
Data compiled by Cryptoslam.io, an on-chain crypto market tracker, shows that the global non-fungible token market has gained some traction this past week. In the past seven days, the NFT has seen over 400,000 investors buying NFTs, representing a 114% spike from the past week.
Bitcoin, the same blockchain network powering the flagship crypto, ‘Bitcoin,’ was the most traded blockchain network this past week. In the past seven days, Bitcoin-based non-fungible token collections have amassed a trading sales volume of $132 million. Bitcoin NFT sales surged by 2.65% compared to the previous week.
Ethereum, the largest adopted NFT blockchain network, was the second most-traded blockchain network. In the past seven days, the Ethereum-based NFT collection has recorded a trading sales volume of $117 million. However, Ethereum NFT sales volume has fallen 16% from the previous day.
Solana, an open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, was the third most-traded blockchain network in the NFT ecosystem. In the past seven days, Solana-based NFT collections have recorded a trading sales volume of $64 million, representing a 3.42% spike from the previous week.
BNB Chain, a blockchain network from the crypto exchange Binance, and Polygon, an Ethereum scaling solution, were the fourth and fifth most-traded blockchain networks in the NFT ecosystem. In the past seven days, the BNB Chain-based NFT collections have amassed a trading sales volume of $8.7 million, while Polygon-based NFT collections have recorded a trading sales volume of $8 million.
Top Selling NFTs This Past Week
1. Bitcoin Ordinals NFT Collection
Bitcoin Ordinals, a non-fungible token collection created on the Bitcoin network using Satoshi Nakamoto’s ordinal theory, was the top-selling NFT collection last week. In the past seven days, the Bitcoin Ordinal collection has recorded a trading sales volume of $63 million. Bitcoin NFT sales surged 90% from the previous week.
2. NodeMonkes NFT Collection
NodeMonkes, an NFT collection featuring a limited edition of 10,000 NFTs hosted on the Bitcoin blockchain network, was the second most-selling NFT collection this past week. In the past seven days, NodeMonkes NFT collection has recorded a sales volume of $16 million.
3. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, an all-time top-selling NFT collection from the digital asset incubation studio Yuga Labs that features a fixed supply of 10,000 NFTs hosted on the Ethereum network, was the third most-selling NFT collection last week. In the past seven days, the Bored Ape Yacht Club NFT collection has recorded a trading sales volume of $14 million. Bored Ape NFT sales surged 22% last week.
4. Mad Lads NFT Collection
Mad Lads, an NFT collection from the Solana development project Coral featuring a limited set of 10,000 NFTs hosted on the Solana blockchain network, was the fourth most-selling NFT series last week. In the past seven days, the Mad Lads NFT collection has recorded a sales volume of $11 million, representing a 55% spike from the previous week.
5. Pandora NFT Collection
Pandora, an NFT collection of 10,000 Replicants bound to the first tokens built on the ERC-404 token standard, was last week’s fifth most-selling NFT collection. In the past seven days, the Pandora NFT collection has amassed a trading sales volume of $7.4 million.
6. Pudgy Penguins NFT Collection
Pudgy Penguins, an NFT collection featuring a limited supply of 8,888 penguin NFTs on the Ethereum blockchain, was the sixth most-selling NFT collection last week. In the past seven days, the Pudgy Penguins NFT collection has recorded a trading sale volume of $7.08 million.
7. DMarket NFT Collection
DMarket, an NFT collection from the virtual in-game items marketplace DMarket, was the seventh most-selling NFT collection last week. In the past seven days, the DMarket NFT collection has recorded a trading sales volume of $7 million. DMarket NFT sales fell 6.26% from the previous week.
8. Froganas NFT Collection
Froganas, an NFT collection featuring a limited supply of 5,555 humanoid frogs hosted on the Solana blockchain network, was the eighth most-selling NFT collection last week. In the past seven days, the Froganas NFT collection has recorded a trading sales volume of $6.5 million.
9. CryptoPunks NFT Collection
CryptoPunks, an NFT collection previously from the digital asset incubation studio Larva Labs that features a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network, was the ninth most-selling NFT collection last week. In the past seven days, the CryptoPunks NFT collection has recorded a trading sales volume of $6.4 million.
10. The Captainz NFT Collection
The Captainz, an NFT collection from the web3-focused venture studio featuring a limited edition of 9,999 NFTs hosted on the Ethereum blockchain network, was the tenth most-selling NFT collection last week. In the past seven days, the Captainz NFT collection has recorded a trading sales volume of $5.6 million, representing a 112% spike from the previous week.
The trading sales volume for the ten top-selling NFT collections alongside other NFT collections has pushed the global NFT sale volume past $350 million levels. Now that the crypto market rally has cooled, the adoption and accumulation of NFTs are likely to continue this week.
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