With overall sales down by 7.5% over seven days, the non-fungible token (NFT) market had a slow week and settled at $121.4 million as of June 1.
Having exceeded Bitcoin (BTC) previous week, Ethereum ( ETH) kept its top spot as the blockchain used most for NFT transactions throughout the last week. Though it dropped 11.24% from the week before, Ethereum recorded overall sales of $37.43 million based on CryptoSlam data. With $27.21 million in sales, the second most active blockchain for NFT sales, Bitcoin, dropped 12.88%.
Generated somewhat less than $19 million, Solana-based NFTs showed a 0.52% decline. Polygon (MATIC) set itself out with a 27.10% sales rise from last week, or almost $15.6 million. Immutable X (IMX) likewise exhibited good movement; revenues rose 12.23% to $8.49 million.
NFT Sales Volume Ranking for Last Thirty Days
The sales volume ranking over the last thirty days matched the weekly performance; only Blast replaced Immutable at fifth place. With $ 163.7 million in sales over May, Ethereum led, a 55% drop from April. Though it had great sales for two weeks in May, Bitcoin’s monthly sales volume dropped significantly, bringing in $158.5 million.
Earning little over $94 million over 30 days, Solana (SOL) saw a 45.8% drop from April levels. Polygon’s May NFT sales volume dropped 34.60%, after having been favorable over the past two weeks. Blast broke the downward trend, displaying a stunning 519.17% rise in sales volume over the preceding 30 days, therefore concluding the month with over $49 million in NFT transactions.
Fascinatingly, Blast also noted the greatest monthly wash trading figures—more than $1.2 million—a startling 931.23% rise from April.
Selling for $393,112, Azuki #3374 from the Ethereum blockchain was the most expensive NFT of the week. It was followed by a noteworthy Bitcoin blockchain sale whereby an ordinal inscription brought in $305,258. Boogle #061 for Solana sold for $206,936.
Selling for $792,486 on May 13, CryptoPunk #741 was the most expensive NFT for the whole month. Second came another Bitcoin Ordinal inscription, for $681,497. Third priciest NFT in May was CryptoPunk #3619, sold by malcode-vault.eth for 215 ETH (about $627,990). Next on sale for $329,252 were Azuki #3374 and CryptoPunk #4926.
Though a 15.31% drop from the previous week, Uncategorized Ordinals lead among the top NFT collections of the week with $7,810,518 in sales. With sales jumping 18.48% to $5.65 million, Guild of Guardians on Immutable X landed second. Third place went to DMarket; fourth went to Nodemonkes; fifth went to Bored Ape Yacht Club (BAYC).
With nearly $48.6 million in sales despite a worrisome 70.13% decline in monthly sales volume, Bitcoin’s Uncategorized Ordinal collection kept its top spot for the whole month. The second most traded NFT collection in May saw its sales volume soar by 674.89% to almost $46 million. With its monthly sales volume rising over 67%, Guild of Guardians also saw a rise and ranks sixth.
