---
title: "NFT sales drop 16% to less than $122 million: What Happened?"
url: https://diffcoin.com/nft-sales-drop-16-to-less-than-122-million-what-happened/
description: "A new entrant in the top five collections ranked by sales volume this week was the Ethereum Name Service, with more than $5.3 million worth of NFTs sold — a 1022% jump — to just 295 buyers."
published: 2024-06-16
updated: 2024-06-16
author: "Mila"
site: "Diffcoin"
---

# NFT sales drop 16% to less than $122 million: What Happened?

This week marked a significant downturn for the non-fungible token (NFT) market, which saw sales drop by almost 16% off the back of a 17% surge in the previous week.

Per CryptoSlam, total sales hit $121.7 million, with more than 519,000 buyers and sellers actively trading.

## **Blockchain NFT sales breakdown**

![NFT sales drop 16%, hover just below $122m - 1](https://lh7-us.googleusercontent.com/docsz/AD_4nXd4GYxRfLs73RjBQSRXnPW-htYVc3QXMfYvpDuufONO7H5Gx5znElR5mlRYg_P-NceC9uqaa0aVs7PmF-1i3WWUAZkfsXN1fi6gSRXE1cUwzXl9VT9uByKg5L20oiMgeriZWvwOxoEwx0jQjhwJw-Iad55U?key=1HxwS9B6VZQpLQWtuBEEYA)

Blockchains by NFT sales volume | Source: CryptoSlam

The Ethereum (ETH) network led the charge with $39.28 million in sales, a notable 14.48% increase from the previous week.

This surge was accompanied by a marked increase in the number of active buyers on Ethereum’s NFT space, with the number going up nearly 48% to reach 23,586. The network also saw an increase in wash trading, up 35.49% to over $34 million.

Bitcoin (BTC), which was the busiest network in terms of sales in the previous week, dropped to second place this week, with about $26.5 million in sales, representing a 45.60 drop. Bitcoin recorded over 18,000 active buyers, which was a whopping 804% increase from last week. Wash trading on the network decreased by about 53%, settling at $20,030.

After a 22% boost in sales in the previous week, this week saw Polygon (MATIC) shave nearly 5.5% off its weekly sales volume to settle at $18.43 million. Solana (SOL) stayed in fourth with $14.631 million in sales, an 18.18% decrease. On its part, Immutable X (IMX) saw a surge, with sales increasing by 9.40%.

## **Top NFT sales**

The highest sale of the week was from the Ethereum blockchain, with an NFT selling for $587,194. A Bitcoin Ordinal, Protoshroom #6, changed hands for $237,373, while a Polygon TTAvatars #128003 fetched $100,500.

Solana’s DeezNode #052 sold for $77,839, edging out a BNB NFT, Ape Treasury Bill V2 V3 #12668, which sold for $31,516.

![NFT sales drop 16%, hover just below $122m - 2](https://lh7-us.googleusercontent.com/docsz/AD_4nXcXfsdcA1Bde_lqTsfOP4C3oC3QPaAurINS7gH4E9kRV108r6eD-jNFTXDOvSIZVRshjQ-fGpLVKPyUlVIjVCWnhy-Vlx7GofCmXlrETg3wVpoWwkOP4aLcra0o73YeO2FZOKJ6IG3-667wAh1__q6gymM?key=1HxwS9B6VZQpLQWtuBEEYA)

NFT collection rankings by sales volume | Source: CryptoSlam

Among collections, Immutable’s Guild of Guardians Avatars had the highest sales volume of the last seven days, raking in more than $8.1 million in 1,614 transactions.

Bitcoin’s PIZZA NFTs followed, generating $7.3 million, which was a drastic 60% reduction on its numbers from the previous week.

A new entrant in the top five collections ranked by sales volume was the Ethereum Name Service (ENS), which secured third spot with more than $5.3 million worth of NFTs sold. The figure represented an incredible 1022% jump, with the money coming from just 295 buyers.

The DMarket collection on Mythos earned $4.6 million from nearly 190,000 transactions, while Bitcoin Puppets from the Bitcoin network earned the #5 spot with about $2.7 million in sales.

[Source link](https://crypto.news/nft-sales-drop-16-percent-122-million-what-happened/)