Trading Activity Key NFT Collections Slows Down as Crypto Prices Pump

nft colelctions slow down as crypto pumps

Number of sales down 22% for Bored Ape Yacht Club over the past 7 days

While bitcoin and ether have seen their prices increase 23% and 21% respectively, the trading volume and number of sales for key NFT collections has taken a hit. Market leading collections like Bored Ape Yacht Club, Azuki, and CryptoPunks have seen their trading volume and number of sales drop significantly. 

The euphoria surrounding the increasing crypto prices is reflected in the NFT trading volume of blue-chip collections like the market-leading Bored Ape Yacht Club. They’ve seen their trading volume drop 33% to just over $13 million, while the number of sales dropped 22.5% to only 165 sold digital collectibles. A similar trend can be noticed with Azuki and CryptoPunks, which have seen their trading volume drop 33.17% and 21.96% respectively.

However, this doesn’t mean that the entire NFT market is in a slump. The attention of traders simply moved to other opportunities. For example, Art Blocks Explorations has seen the Friendship Bracelets mint end, increasing the number of sales 65% to 6,873 sold items in the past week. Trading volume even went up 84.7%, resulting in $6.57 million in volume. 

Other collections that have similar positive results are The Memes by 6529, Mutant Hound Collars and another CryptoPunks clone called Zunks. Each of these collections is relatively new on the market, and enjoy the spotlight at the moment. Collectors are seemingly looking for opportunities to get into potentially highly profitable collections. 

A clear example of the opportunist vibe surrounding NFTs at the moment, would be the collection. These digital collectibles are – indeed – pixelated pictures of feet. Over the past 7 days trading volume increased 981% to $1.74 million, coming from 15,212 sold items.

NFT Marketplaces seemingly sidelined for the moment

Those who are actively trading for profit, seemingly have now moved from NFTs to crypto. Most NFT marketplaces have seen a drop in traders, while all of them have seen a drop in trading volume. OpenSea registered $95 million in sales over the past 7 days, which is a drop of 16.7%. Number two marketplace Blur was hit much harder with a 35% drop in volume, with sales of $38.29 million.

Noteworthy NFT Sales of the past week

Despite the drop in trading volume, the top five NFT marketplaces combined were still good for $183.19 million in trading volume. Moreover, those millions included some remarkable sales that we’ve highlighted in the top 10 list below. This list has been curated, and if you want to see the most expensive NFTs sold in the past week, simply go to our Top NFT Sales page.

  1. Hollyshit.bnb – Space ID (user domain name) – sold for $10.930 or 39.39 BNB
  2. Midas Touch #110 – Reddit avatar – sold for $4,950 or 3.7 WETH
  3. Illuvium Land #40082 – Illuvium (game world) – sold for $20,930 or 13.65 ETH
  4. Otherdeed #89263 – Otherside (game world) – sold for $285,280 or 186.69 ETH 
  5. Fidenza #955 – Art Blocks x Tyler Hobbs – sold for $105,960 or 80 ETH 
  6. Sapdeutchland.eth – Ethereum domain name – sold for $180,170 or 116 WETH
  7. Town of the Prince – Mirandus (game world) – sold for $83,910 or 2 million GALA
  8. CloneX #16307 – CloneX avatar – sold for $76,660 or 50 ETH
  9. Noun 424 – Nouns avatar – sold for $59,440 or 39 ETH 
  10. The Doomed – Artwork by XCOPY – sold for $54,360 or 35 WETH

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