NFT Sales Down 35% Last Week – Here’s What You Can Expect This Week

Non-fungible tokens took a brief market respite last week after a brisk bull rally for more than seven weeks. The NFT market bull market began in early November, with BRC-20, along with other NFTs, leading the short-term rally. In this article, we will take a look at what you can expect in the last week of December 2023.

NFT sales have decreased by 35% in the past seven days.

Data collected by on-chain market data aggregator CryptoSlam.io shows a slight decline in sales volume in the global non-fungible token market recently. Over the past seven days, the NFT market’s trading volume was $395 million, down 35% from the previous week.

Bitcoin-based NFTs were the most traded collection of NFTs this festive week. Over the past seven days, Bitcoin NFTs have recorded a trading volume of $201 million. Nonetheless, Bitcoin NFT sales last week plummeted 49% from the previous week.

The collection of non-fungible tokens hosted on Solana, a decentralized blockchain network that uses a proof-of-stake consensus mechanism, was the second most traded collection of NFTs this week. Over the past seven days, Solana-powered NFT collections have seen $85 million in transaction sales. Solana NFTs plunged 13% last week.

Source: CryptoSlam.io, selling NFTs via blockchain

The digital collectible, hosted on Ethereum, the largest blockchain network for non-fungible tokens, was the third most traded NFT collection last week. Over the past seven days, Ethereum-based NFTs have recorded a trading volume of $75 million. During this period, Ethereum NFTs plummeted 15%.

Non-fungible tokens hosted on the Polygon and Arbitrum blockchains ranked the fourth and fifth most traded NFT collections last week. In the past seven days, Polygon NFTs have recorded $8 million in transaction sales and Arbitrum NFTs have recorded $5 million in sales.

Top selling NFTs over the past 7 days:

Source: CryptoSlam.io, Top Selling NFTs

1. Bitcoin Ordinal ‘Unclassified NFT’

Bitcoin Ordinals, non-fungible tokens created on the Bitcoin blockchain network using Satoshi Nakamoto’s ordinal theory, were the best-selling NFT collection last week. Over the past seven days, Bitcoin Ordinal has recorded a trading volume of $23 million.

2. Open SolMaps NFT

SolMaps, an NFT collection of 600 real-world cities hand-pixelated using open-source geographic data, was the second best-selling NFT collection last week. Over the past seven days, Solmap NFT collections have recorded $12 million in transaction sales.

3. $RAT BRC-20 NFT

$RAT, an animal-inspired non-fungible token created on the Bitcoin blockchain using the BRC-20 protocol, was the third best-selling NFT collection last week. Over the past seven days, the $RAT NFT collection has recorded $7.8 million in transaction sales. $RAT NFT sales are down 78% compared to last week.

4. $SQTS BRC-20 NFT

$SQTS, another NFT collection created on the Bitcoin blockchain using the BRC-20 protocol, was the fourth most sold NFT collection last week. Over the past seven days, the $SQTS BRC-20 NFT collection has recorded $5.9 million in transaction sales. During this period, $SQTS NFT sales decreased by 65%.

5. $BIIS BRC-20 NFT

$BIIS, another NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, was the fifth best-selling NFT collection last week. Over the past seven days, the $BIIS NFT collection has recorded $5.7 million in transaction sales. During this period, $BIIS BRC-20 NFT sales increased 56% compared to the previous week.

Source: CryptoSlam.io, Top selling NFTs in the last 7 days

6. Bitcoin Frog NFT

Bitcoin Frogs, newly launched non-fungible tokens modeled after frogs, were the sixth most traded collection last week. Over the past seven days, the Bitcoin Frog NFT collection has recorded $5.6 million in transaction sales. During this period, Bitcoin Frogs NFT sales were down 55% from the previous week.

7. $SAT BRC-20 NFT

$SAT, another non-fungible token created on the Bitcoin blockchain network using the BRC-20 protocol, was the 7th most sold NFT collection last week. Over the past seven days, the $SAT NFT collection has recorded $5.4 million in transaction sales. Last week, $SAT NFT sales fell 87% compared to the previous week.

8. $MICE BRC-20 NFT Collection

$MICE, another animal-inspired non-fungible token created on the Bitcoin blockchain network using the BRC-20 protocol, was the eighth best-selling NFT collection last week. Over the past seven days, the $MICE NFT collection has recorded a trading volume of $5.3 million. $MICE NFT sales decreased 82% compared to the previous week.

9. Mad Lads NFT Collection

Mad Lads, an NFT collection from Coral, the Solana framework development company offering limited edition 10,000 profile photo NFTs, ranked as the 9th best-selling NFT collection last week. Over the past seven days, the Mad Lads NFT collection has recorded $5.2 million in transaction sales.

10. Floganas NFT Collection

Floganas, a collection of non-fungible tokens hosted on the Solana blockchain network, ranked 10th among the best-selling NFT collections last week. Over the past seven days, the Floganas NFT collection has recorded $5 million in transaction sales, rounding out the top 10 best-selling NFT collections of the past week.

NFT Market Prediction: NFTs Will Continue to Rebound in 2024

The non-fungible token market is expected to continue its rebound in the last week of December, and the overall cryptocurrency market is expected to experience another market rebound in 2024, similar to the historic 2020-2021 bull market. In the meantime, the NFT market begins a brief year-end market rally. In the last 24 hours, the NFT market has increased by 38%, reaching $54 million in sales.

Source: CryptoSlam.io, NFT sales in last 24 hours

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