NFT Sales Drop Nearly 9% in a Week, Marking Continued Decline

Between May 10 and May 17, NFT sales amounted to $150.56 million, representing an 8.97% decrease from the previous week's figures. This decline is part of a consistent downward trend in weekly NFT sales, with four of the top five blockchains by sales volume seeing reductions during this period.

In February, from Feb. 17 to Feb. 24, NFT sales hit $306 million. Despite rising cryptocurrency prices in March, NFT sales declined, with April figures similarly disappointing. The trend continues in May, with a 13% drop in digital collectible sales last week and an additional 8.97% decrease this week, bringing sales to $150.56 million.

This week's sales volume is less than half of February’s peak. Ethereum has consistently held the second spot in weekly sales, while Bitcoin has led, surpassing Ethereum each week. In the latest week, Bitcoin led with $48.32 million in NFT sales, though this was a 4.42% decrease. Ethereum followed with $37.6 million, an 8% drop from the previous week. Solana’s NFT sales reached $18.82 million, down 26.71%. Blast, new to the top five, reported $14.87 million in sales, down 25.67%. Polygon came fifth with $11.95 million, showing a 16.94% increase from the previous week.

Among NFT collections, Uncategorized Ordinals generated $17.79 million in sales, a 24.66% decrease. Blast’s Fantasy Top ranked second with $14.85 million. Mythos Dmarket placed third with $5.8 million, followed by Bitcoin’s Nodemonkes with $5.58 million. Core BRC20s came fifth with $3.43 million in sales.

The priciest NFT sold this week was Cryptopunk #741 at $792,046. An Ordinal inscription sold for $681,497, Mad Lads #3919 fetched $73,368, Earthnode #184 from Cardano sold for $56,026, and the fifth most expensive NFT from the Blast chain sold for just over $39,000.

What are your thoughts on this week's NFT sales? Share your opinions in the comments seNFT Sales Drop Nearly 9% in a Week, Marking Continued Decline

Between May 10 and May 17, NFT sales amounted to $150.56 million, representing an 8.97% decrease from the previous week's figures. This decline is part of a consistent downward trend in weekly NFT sales, with four of the top five blockchains by sales volume seeing reductions during this period.

In February, from Feb. 17 to Feb. 24, NFT sales hit $306 million. Despite rising cryptocurrency prices in March, NFT sales declined, with April figures similarly disappointing. The trend continues in May, with a 13% drop in digital collectible sales last week and an additional 8.97% decrease this week, bringing sales to $150.56 million.

This week's sales volume is less than half of February’s peak. Ethereum has consistently held the second spot in weekly sales, while Bitcoin has led, surpassing Ethereum each week. In the latest week, Bitcoin led with $48.32 million in NFT sales, though this was a 4.42% decrease. Ethereum followed with $37.6 million, an 8% drop from the previous week. Solana’s NFT sales reached $18.82 million, down 26.71%. Blast, new to the top five, reported $14.87 million in sales, down 25.67%. Polygon came fifth with $11.95 million, showing a 16.94% increase from the previous week.

Among NFT collections, Uncategorized Ordinals generated $17.79 million in sales, a 24.66% decrease. Blast’s Fantasy Top ranked second with $14.85 million. Mythos Dmarket placed third with $5.8 million, followed by Bitcoin’s Nodemonkes with $5.58 million. Core BRC20s came fifth with $3.43 million in sales.

The priciest NFT sold this week was Cryptopunk #741 at $792,046. An Ordinal inscription sold for $681,497, Mad Lads #3919 fetched $73,368, Earthnode #184 from Cardano sold for $56,026, and the fifth most expensive NFT from the Blast chain sold for just over $39,000.

What are your thoughts on this week's NFT sales? Share your opinions in the comments section below.ction below.