Over the past week, the non-fungible token (NFT) market has experienced a slight decline, with sales falling by 4.33% to a total of $148.55 million. This downturn was observed across four of the top five blockchains known for NFT sales, with Ethereum being the only exception.
The second consecutive week of declining NFT sales saw a total of $148.55 million in transactions. Ethereum-based NFT sales made up $88.54 million, or 59.6% of this total, showing a slight increase of 1.41% from the previous week. However, Bitcoin-based NFTs, which accounted for roughly 17.44% of the week's total with $25.92 million in sales, saw a significant decrease of 14.37% from the previous week.
Statistics from Cryptoslam.io reveal that NFT sales on the Solana blockchain totaled $8.2 million, a decline of 17.46%. Similarly, Polygon's NFT sales fell by 16.44% to $5.9 million. The BNB Chain also followed this downward trend, with total NFT sales for the week amounting to around $5.3 million, a modest decrease of 2.61%.
In terms of weekly sales, the most profitable collections were both associated with Bitcoin. The Fram NFT collection and Uncategorized Ordinals outperformed others, securing the top two spots. The Ethereum-based Bored Ape Yacht Club (BAYC) NFT collection fell to third place this week, with Ethereum's Captainz and Cryptopunks collections following closely behind.
Bitcoin-based NFTs dominated the top sales of the week, securing three out of the top five spots. The most expensive NFT transaction was from the Bitcoin Burials collection, which sold for an impressive $1.68 million. This was followed by BAYC #1,734, which sold for $1.2 million, and Cryptopunk #8,531, which sold for just over $1 million. The remaining two spots in the top NFT transactions of the week were also from the Bitcoin blockchain, each bringing in more than $400K.
