NFT sales fell 44.7% to US$63.3 million, with Ethereum leading the way

NFT Market Weekly: Transaction volume fell 44.70%, but the number of buyer and seller addresses increased significantly

In the past seven days, NFT sales fell 44.70% to US$63.33 million, while at the same time, the number of buyer and seller addresses in the market has increased significantly.

Market Overview

NFT sales fell 44.70% to US$63.33 million, and transaction volume fell 14.13% to 802,330 transactions. The number of buyer addresses increased by 30.48% to 227,316, and the number of seller addresses increased by 54.64% to 247,373. Ethereum led the market with sales of $35.56 million, despite its weekly decline of 49.01%. Bitcoin ranked second with $8.68 million, with sales down 59.53%, but the number of buyers increased 41.11%. The Courtyard series topped the list with sales of $6.09 million, and a Bitcoin NFT was sold for $2.14 million.

Based on seven-day screening data captured on August 29, global NFT sales fell to approximately US$63.33 million from approximately US$114.5 million in the previous cycle. The number of buyer addresses increased 30.48% to 227,316, and the number of seller addresses surged 54.64% to 247,373. These numbers represent blockchain addresses, not confirmed individual users. Trading volume showed the opposite trend, falling 14.13% to 802,330 transactions. An increase in participating addresses and a decrease in transaction volume suggests that activity is spreading to a broader address base, but data alone cannot determine whether each address represents an independent market participant.

This decline in the NFT market comes during a broader correction in the crypto market. On August 29, Bitcoin was trading at approximately US$77,600, and Ethereum was trading at approximately US$2,440. The global market value of cryptocurrencies is approximately US$2.71 trillion, falling by more than 2% in 24 hours. The decline of NFT and cryptocurrencies occurred during the same period, but available data does not prove a direct causal relationship between the two.

Ethereum leads NFT sales, with a weekly turnover of US$35.6 million.

Ethereum remains the largest NFT blockchain, with organic sales of US$35.56 million, down 49.01% from the previous week. The network also recorded $1.66 million in fake transactions. Ethereum's total transaction volume (including fake transactions) reached US$37.22 million. Despite the decline in sales, its number of buyers increased 34.34% to 33,105.

Bitcoin ranked second with sales of US$8.68 million, down 59.53%. The volume of fake transactions totaled US$85,595, with a total transaction volume of US$8.77 million. The number of Bitcoin buyer addresses increased by 41.11% to 10,161.

Polygon recorded organic sales of US$7.03 million, down 34.29%. But its fake trading volume reached US$18.19 million, more than double organic sales. The number of buyers at Polygon fell 18.53% to 85,607.

Base ranked fourth, with sales of US$3.57 million, down 13.26%, and the number of buyers increased 41.61% to 3,070. The network's fake transaction volume was US$4.8 million, with a total transaction volume of US$8.37 million.

BNB Chain followed closely, with sales of $2.81 million, down 20.47%, but the number of buyer addresses increased 90.16% to 16,915. Solana was the strongest performer of the six major networks, with sales rising 11.17% to US$1.91 million and buyers growing 42.97% to 38,593.

The six major networks together contributed approximately US$59.56 million, accounting for 94% of global organic NFT sales. Immutable sales increased 18.38% to $1.87 million.

Courtyard leads the weekly NFT series sales list

The Polygon-based Courtyard series still ranks first in the sales list, with sales of US$6.09 million, but the total dropped by 37.55%. The series generated a total of 98,531 transactions, a decrease of 55.66%, involving 17,969 buyer addresses and 11,755 seller addresses.

The Ethereum-based Argonauts series ranked second with sales of US$5.7 million, with a total of 11,271 transactions.

Bitcoin's $X@AGI BRC-20 NFT series ranked third with US$2.58 million, up 74.89%. All transactions in this series are completed by only three transactions, three buyers and three sellers. The transaction volume is highly concentrated and does not represent extensive collectibles trading behavior.

CryptoPunks series followed closely, with sales of US$2.07 million, up 7.64%. A total of 19 sales were recorded in the series, involving 17 buyer addresses and 18 seller addresses.

Sales of the Base-based Beezie series were US$1.88 million, down 33.29% to a total of 11,186 transactions. Only 9 buyer addresses participated, compared with 225 seller addresses.

The Blokyz series ranked sixth with sales of US$1.83 million, with a total of 4,212 transactions. The Pudgy Penguins series ranked seventh, with sales increasing 27.19% to US$1.04 million and transaction volume increasing 12.79% to 97 transactions.

Sales of the Bored Ape Yacht Club series were US$977,831, down 23.03%, with a total of 53 transactions involving 27 buyer addresses.

Bitcoin NFT dominates high-priced transactions

A $X@AGI BRC-20 NFT became the largest single transaction this week at US$2.14 million, closing at 27.1798 BTC about two days before the data snapshot. The transaction accounted for approximately 83% of the series's weekly trading volume of US$2.58 million and 3.4% of global NFT sales. Such high concentration means that this week's growth in the series is mainly due to this transaction.

Flying Tulip PUT #8494 ranked second with US$484,791, and was sold for 200 encapsulated ether about seven days ago. Flying Tulip's official sources describe its putNFTs as ERC-721 tokens encoding perpetual put positions and redemption rights, and the transaction involves tokenized financial positions rather than ordinary avatars or digital art collectibles.

Another $X@AGI BRC-20 NFT ranked third with US$442,220 (5.59 BTC) and was sold about four days ago. Another NFT in the series sold for $434,085 (5.5999 BTC), about an hour before the data snapshot. The series also contributed the fifth-largest transaction, worth $386,846, which was sold at 5 BTC about five days ago. Four of the top five transactions came from $X@AGI BRC-20 NFT, showing that a handful of high-value Bitcoin transactions shaped this week's top sales list.