Sun, December 1

NFT Weekly Sales Volume Surges to $84.9M Despite Market Slump

NFT Weekly Sales Volume Surges to $84.9M Despite Market Slump NFT News
  • Sales peaked at around $84.9 million weekly from September 30th to October 6th.
  • NFT collection Dmarket topped all others in terms of sales, with 537,714 transactions.

Despite a general market slump, weekly sales of non-fungible tokens (NFTs) reached a high, surpassing levels not seen since August. The NFT market tracker CryptoSlam reports that sales peaked at around $84.9 million per week from September 30th to October 6th. Since the week ending August 25, when it surpassed $93 million, this is the highest weekly volume of NFT sales.

From August 23, 2021, to August 29, 2021, the highest weekly sales volume for NFTs was over $2.2 billion, as reported by CryptoSlam. Also, trading volumes for Bitcoin, Ether, and Solana—three of the top five NFT blockchains—were lower than the previous week.

Much Awaited Rebound

With sales of almost $15 million—a rise of over 6,000% in the previous seven days—Mythos Chain soared to second position, just behind Ethereum, in terms of gains.

With a 210% increase in weekly sales volume, Polygon was also doing well. Over the last week, NFT collection Dmarket topped all others in terms of sales, with 537,714 transactions totaling over $14 million.

There were more than 839,000 NFT purchasers in the past seven days, an approximately 22% spike from the previous week, according to CryptoSlam statistics. This is in addition to the increase in overall weekly volume.

More over two million transactions were registered, which is a huge increase of 71% compared to the previous week. Even now, the NFT market as a whole is fighting to recover from last year’s record highs.

Sales of NFTs dropped to $303 million in September from $373 million in August, according to data from CryptoSlam. With a total of $1.6 billion in sales, March was the best month for the market thus far in 2024.

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A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.