News and Analytics

NFT Market Trading Volumes Down 30.3% Over the Last Week

NFT Market Trading Volumes Down 30.3% Over the Last Week

May 8, 2024

According to information from CryptoSlam, the total value of transactions in the non-fungible token (NFT) space has decreased significantly over the past week. The transaction value decreased by 30.3%, reaching $159.37 million as of May 5, 2024.

NFT Market Trading Volumes Down 30.3% Over the Last Week - news

The number of transactions also decreased by 26.7%, amounting to 1.63 million. In the first five days of May, performance in the global NFT market was modest compared to previous months. During this period, transactions totaling $95.02 million were completed. In April, volumes reached $1.14 billion, and in March - $1.53 billion, indicating a decrease in purchasing activity and liquidity in the NFT market as a whole. Among individual collections, the leader in sales for the week was “uncategorized Ordinals”, the transaction amount of which amounted to $29.77 million, although their volume decreased by 52.05% compared to last week.

They are followed by DMarket on Mythos and NodeMonkes (Bitcoin) with results of $6.43 million and $4.62 million, respectively. CryptoPunks took fourth place with $4 million in trade volume, down 74.01% from the previous week in April. Slightly lower, in fifth place, is Bored Ape Yacht Club (BAYC), with a transaction volume of $3.91 million, having lost 48.7% compared to the previous week. DeGods showed an outstanding result, the amount of transactions with which increased by 162.1%, reaching $3.51 million. The most expensive piece of digital art this week was CryptoPunks #7846, which sold for 557.8 thousand. This token depicts a punk wearing anaglyph glasses and a children's hat with a propeller


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