The past week in the non-fungible token (NFT) market saw a decrease in overall sales by 7.5%, amounting to $121.4 million as of June 1.
Top blockchains based on sales volume
Ethereum (ETH) maintained its position as the leading blockchain for NFT transactions over the last seven days, surpassing Bitcoin (BTC). According to data from CryptoSlam, Ethereum recorded total sales of $37.43 million, despite an 11.24% decrease from the previous week. Bitcoin came in second with $27.21 million in sales, reflecting a 12.88% drop. Solana-based NFTs generated just over $19 million, showing a slight 0.52% decline. Polygon (MATIC) stood out with a 27.10% increase in sales, totaling around $15.6 million, while Immutable X (IMX) also saw positive movement with a 12.23% increase in sales to $8.49 million.
Monthly sales volume
Over the course of 30 days, the top five blockchain rankings for sales volume remained consistent with the weekly rankings, with Blast replacing Immutable at #5. Ethereum led with $163.7 million in sales in May, a 55% decrease from April. Bitcoin experienced a 73.44% drop in monthly sales volume, bringing in $158.5 million. Solana earned just over $94 million, a 45.8% decrease from April, and Polygon’s NFT sales volume in May dropped by 34.60%. Blast, however, saw a significant 519.17% increase in sales volume over the past 30 days, ending the month with over $49 million worth of NFTs traded. Blast also had the highest increase in monthly wash trading numbers, with over $1.2 million recorded, representing a 931.23% jump from April.
Most expensive NFTs
The highest-priced NFT of the week was Azuki #3374 from the Ethereum blockchain, selling for $393,112. An Ordinal inscription on the Bitcoin blockchain fetched $305,258, while Solana’s Boogle #061 sold for $206,936. Throughout the month, the most expensive NFT was CryptoPunks #741, selling for $792,046. Another Bitcoin Ordinal inscription came in second at $681,497, followed by CryptoPunks #3619, Azuki $3374, and CryptoPunk #4926.
NFT collection rankings
In the top NFT collections for the week, Uncategorized Ordinals led with $7,810,518 in sales, followed by Guild of Guardians on Immutable X with $5.65 million. DMarket, Nodemonkes, and Bored Ape Yacht Club (BAYC) rounded up the top 5. Over the month, Bitcoin’s Uncategorized Ordinals collection remained at the top with over $48.6 million in sales, despite a 70.13% decrease in monthly sales volume. Blast’s Fantasy Top collection saw a 674.89% increase in sales volume to over $46 million, while Guild of Guardians experienced a nearly 67% increase to secure the fifth spot.
The NFT market continues to evolve, with different blockchains and collections seeing fluctuations in sales volume and pricing.