NFT Sales Drop to $89M as Solana Surpasses Bitcoin for 2nd Place
NFT sales have taken a dip this week, dropping 7% to $89.1 million from last week’s $93 million. While Ethereum retains its leading position, Solana has made headlines by surpassing Bitcoin to claim second place in NFT sales volume. The increase in NFT buyers and sellers highlights renewed interest in the market, even as sales figures decline slightly.
Key Highlights from NFT Sales This Week
Ethereum Dominates with $31.1 Million in NFT Sales: Ethereum leads in weekly NFT sales volume, although it saw a 4% drop from the previous week’s $33.4 million. A significant portion (21%) of Ethereum’s volume is attributed to wash trading, reflecting ongoing trading activity despite the market dip.
Solana Overtakes Bitcoin for 2nd Place: Solana's NFT sales volume rose 12% to $18.3 million, moving it into second place over Bitcoin, which saw a 30% decrease to $14.8 million. Solana has also experienced a 56% increase in the number of NFT buyers, with 301,523 buyers this week compared to 192,543 last week.
Top NFT Collections and Sales:
- DMarket continues to hold the top spot for NFT collections, with sales at $4.918 million.
- Solana's Froganas collection surged by 118%, reaching $4.917 million, ranking as the second-largest collection.
Notable NFT Sales:
- CryptoPunks #8651 sold for $125,917.28 (50 ETH).
- CryptoPunks #237 fetched $59,970.94 (24 ETH).
- Claynosaurz #10222 on Solana was sold for $38,422.71 (235 SOL).
- Sorare and Bored Ape Yacht Club NFTs also featured in the top sales, with Sorare #3209101205534761733284 selling for $36,488.51 (14.4162 ETH) and BAYC #2213 for $34,837.25 (13.7688 ETH).
Market Observations
This week’s data highlights the growing NFT market activity on Solana, with buyer surges and a notable increase in sales volume. Bitcoin’s decline in NFT sales indicates potential shifts in investor interest, as Solana offers a scalable alternative for NFTs with lower transaction fees and a more diverse range of collections.