Home
News
Ethereum, the leading blockchain network, maintained its ranking in the Non-fungible token (NFT) sales.
Despite the drop, the Ethereum-based NFT project showcased outstanding performance and secured a top ranking in terms of sales. The blockchain maintained its top position for the third consecutive day, according to CryptoSlam data.
Ethereum Blockchain Performance In NFT Sales
According to CryptoSlam data, the Ethereum blockchain sustained its top position in the digital token marketplace sales for the third consecutive day. The blockchain replaced many strong players, including Bitcoin, Solana, and the BNB Chain.
Surprisingly, despite a sales decline of 63% on Friday, the blockchain maintained its effective positioning in the NFT space. The CryptoPunk NFT, once sold for $32.81 Million, fell to $16.38 Million on Thursday.
In the past 24 hours, the blockchain sales reached $10,925,871, a drop of 16.02%. Also, an upsurge of 4.98% is recorded in the buyers, hitting 7,676.
Uncovering the projects, Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and CryptoPunks are a few of the projects that sustained Ethereum’s top position.
BAYC project recorded sales of $1,176,454, after a drop of 42.53% with over 24 transactions. MAYC, on the other hand, documented sales of $945,529, an upsurge of 216.19%, with a total transaction count of 108. CryptoPunks is another project that recorded sales of $364,833 in the past 24 hours.
Moreover, on Wednesday, an unknown collector purchased CryptoPunks #7804 for over 4,850 ETH, or $16.38 Million. Additionally, Punk NFT #3100 sold for around 4,500 ETH or $16 Million early this month.
Additionally, the blockchain counted around 8,403 unique buyers and 6,845 unique sellers on March 22. In February 2024, the blockchain recorded total sales of over $553,587,021.94 with 113,750 unique sellers and 144,417 unique buyers and total transactions of 833,204.
Furthermore, Bitcoin and Solana remained in the second and third positions with a sales volume of $7.99 Million and $6.10 Million on March 22. In addition, Bitcoin recorded a decline of 23% in sales volume, whereas Solana sales dropped by 7.62%.
Another powerful blockchain, BNB Chain, encountered one of the best performances on Friday, with a hike of 12% in sales.
The Beginning of the NFT Revival
The waves in the NFT market showcase the revival of the marketplace. The landscape has been down for the past few years, and the CryptoPunk sale, BAYC, and MAYC marked a new beginning.
According to Statista data, the sales volume of the respective market in 2023 was well below 2021 and 2022. The collectibles totaled over $6.3 Billion in 2023, a 64.5% decline from 2022. Furthermore, the global market cap was recorded at $26.9 Billion and is supposed to hit $35.7 billion in 2024.
The non-fungible token is a digital asset that showcases real-world objects and is used to certify the authenticity or ownership.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
