Ethereum and Bitcoin NFTs Lead in NFT Sales Volumes in the Last Seven Days

The sales volumes for non-fungible tokens (NFT) have dropped by 10% in the past week according to data from CryptoSlam. The downturn comes amid a notable decline in the price of cryptocurrencies.

NFT sales volumes in the last seven days now stand at $216 million. The number is also a notable decline from the volumes posted in early March 2024.

The top two blockchains by NFT volumes are Ethereum and Bitcoin. In the last seven days, sales for NFTs on the Ethereum blockchain dropped by 20% to $118 million. Bitcoin NFT sales also recorded a 5% decline to average at around $71 million.

However, Solana, which has recorded a significant uptick in activity during the ongoing bull season, has seen a 2.55% increase in NFT sales volumes. Mythos Chain and Polygon are reporting gains, with their NFT sales volumes increasing by 6.83% and 6.61% respectively.

BNB Chain is leading the decline in NFT sales volumes among the top ten largest blockchains by this metric. The trading volumes on this chain have dropped by 65% to $2 million, making it the ninth-largest blockchain by this metric. Immutable’s NFT trading volumes have also plunged by 39% to an average of $3.6 million.

Avalanche, which has also become a major hub for NFT trading has also posted a 20% dip in trading volumes to $2.27 million.

Bitcoin NFTs are Leading in Volumes

In terms of specific collections, NFTs on the Bitcoin blockchain are leading the charts. An “Uncategorized Ordinals” on the Bitcoin blockchain posted a 13% drop in NFT sales volumes to $19 million, making it the largest NFT in the market by this metric.

JIGI BRC-20 NFTs also rank as the second-largest, with their NFT sales increasing by 111% to $8.44 million. This trend shows that Bitcoin Ordinals have become the preferred go-to location for NFT enthusiasts seeking to fill their bags. There are four Bitcoin-based NFTs among the top-ten largest NFT collections in the past week.

Solana is also topping the charts with its Mad Lads NFT collection. In the last seven days, the Mad Lads collection has seen a 39% increase in trading volumes, which have now hit $8.18 million.

The Bored Ape Yacht Club (BAYC) NFT collection on the Ethereum blockchain is not being left behind. In the last seven days, trading volumes for BAYC NFTs have increased by 4.96% to $7.7 million.

Despite the decline in NFT sales volumes in the last week, NFT buyers have increased by 25% to 788,319.

The highest-priced NFT collection in the last week is the BAYC #591, which sold for $301,533. Mushroom #196 Bitcoin-based NFT ranked second in terms of the highest price, after selling for $216,657.