The NFT market had a slow week, with total sales dropping by 7.5% to $121.4 million on June 1st.
Top blockchains in sales volume
Ethereum continued to dominate as the leading blockchain for NFT transactions, with 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, with a slight 0.52% decline. Polygon stood out with a 27.10% increase in sales to approximately $15.6 million. Immutable X also showed positive movement with a 12.23% increase in sales to $8.49 million.
Monthly sales volume
Over 30 days, Ethereum registered $163.7 million in sales in May, a 55% decrease from April. Bitcoin saw a 73.44% drop in monthly sales volume to $158.5 million. Solana earned just over $94 million, a 45.8% dip from April. Polygon’s NFT sales volume in May were down 34.60%. Blast showed a remarkable 519.17% increase in sales volume over the past 30 days, ending the month with over $49 million worth of NFTs traded.
Most expensive NFTs
Azuki #3374 from Ethereum sold for $393,112, the highest-priced cryptographic token of the week. An Ordinal inscription on the Bitcoin blockchain fetched $305,258. Solana’s Boogle #061 sold for $206,936. The most expensive NFT in May was CryptoPunks #741, selling for $792,046 on May 13.
NFT collection rankings
Uncategorized Ordinals led the week’s top NFT collections with $7,810,518 in sales. Guild of Guardians on Immutable X secured the second spot. Bitcoin’s Uncategorized Ordinals collection maintained its number one spot for the entire month with more than $48.6 million in sales. Blast’s Fantasy Top saw a 674.89% increase in sales volume to over $46 million. Guild of Guardians also saw a nearly 67% increase in monthly sales volume.