NFT weekly sales drop 2.56% to $33.63M, Bitcoin volume rises - KuCoin

The weekly sales volume of non-fungible tokens decreased by 2.56% to $33.63 million, according to data from CryptoSlam. The number of transactions fell by 15.06% to 640,844, and the number of buyer addresses dropped by 74.78% to 67,937.

Despite the overall decline, Bitcoin saw a 7.57% increase in sales volume, reaching $4.8669 million. Ethereum maintained its position as the largest network for NFT trading, with sales of $10.98 million.

The average trade size increased by approximately 14.7% to $52.48, suggesting that remaining transactions were of higher value. The total cryptocurrency market cap stood at around $2.36 trillion, down 1.11% over the past 24 hours.

Bitcoin leads in high-value sales

Bitcoin transactions accounted for the highest single NFT sales of the week. The top two sales were both Bitcoin transactions, with the largest being for an inscription starting with #39ceeef1, sold for $1,581,109.67.

This single transaction accounted for roughly 76.5% of the total sales for the $X@AI BRC-20 NFT series. The second highest sale was for an inscription starting with #8c2c2583, traded for $485,335.87.

On Ethereum, the top sales were for Alchemix V3 Transmuter #233, priced at $133,459.73, and Uniswap V3 Positions NFT-V1 #713, priced at $125,687.06. CryptoPunk #4314 also ranked in the top five with a trading volume of $112,699.13.

Ethereum and Polygon lead sales volume

Ethereum remains the dominant network for NFT trading, with sales of $10.98 million, a 4.65% decline. The number of buyer addresses on Ethereum dropped by 84.29% to 6,263, and wash trading volume decreased by 58.20% to $76,067.

Polygon followed with sales of $8.26 million, a 6.45% decline. The network recorded $17.56 million in wash trading volume, which is listed separately from sales. Bitcoin ranks third with sales of $4.8669 million, up 7.57%.

The top NFT series by sales was Courtyard, with $7.08 million, a decline of 11.69%. The Polygon-based series accounts for approximately 21% of global sales and 85.7% of Polygon’s trading volume.

Other networks see mixed results

Solana ranked seventh with sales of $1.32 million, up 25.92%. The number of buyers decreased by 80.04% to 14,235. Pudgy Penguins ranked eighth with sales of $588,280, a 71.07% increase, with 141 transactions and 70 buyers.

The number of active wallets declined across most major chains, with Ethereum seeing the largest drop in buyer addresses. Wash trading volume also decreased on Ethereum and Bitcoin, but remained significant on Polygon.