In the last week of October, the global non-fungible token market experienced a steep decline due to ongoing trade wars in Mexico, the USA, and China, as well as macroeconomic pressures, with its capitalization plummeting from $6.2 billion to $4.7 billion. In the past seven days, the NFT sales volume has also plunged by 26% to $101 million. The broader cryptocurrency market has experienced a similar crash at the same time.
NFT Sales Fall 26% In The Past 7 Days
Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token collection explorer tracking non-fungible token collections from more than 20 blockchain networks, indicates that the global non-fungible token market has experienced a steep crash this week. In the past seven days, the global NFT market generated trading sales of $101 million, a 26% decrease from the previous week.
The current NFT downturn is viewed as a shift toward a more mature market, with a focus on utility rather than hype. Despite the recent fall, the number of crypto users buying non-fungible token collections has increased by 24% to 604,147. Investors are running to the NFT market because NFTs offer a unique way to diversify an investment portfolio with a “digital asset” class that is distinct from traditional stocks or bonds.
Leading Blockchain Networks in NFT Trading
Ethereum, the blockchain network previously renowned in the NFT market as the dominant NFT chain, was the most traded blockchain network in the global NFT market during the last week of October. In the past seven days, the Ethereum-based NFT collections have raised a trading sales volume of over $43 million. During this period, the Ethereum NFT trading sales volume has increased by 28% compared to the past week.
Bitcoin, a peer-to-peer blockchain network known for supporting Ordinals, Runes, and BRC-20 non-fungible token collections, was the second most-traded blockchain network in the global NFT market during the last week of October. In the past seven days, the Bitcoin-based NFT series has raised a trading sales volume of $11 million. During this period, Bitcoin NFT trading sales have declined by 14% compared to the previous week.
Base, as a user-friendly and affordable Ethereum Layer-2 network developed by Coinbase, focusing on scalability and onboarding a billion users to web3, is the third most traded blockchain network in the NFT market this last week of October. Over the past seven days, the Base NFT collections have generated a trading sales volume exceeding $10 million. During this period, the Base NFT trading sales volume increased by 4.28% compared to the previous week.
Immutable X, a renowned Layer 2 scaling solution network for NFTs on Ethereum, designed to provide gas-free, instant NFT minting and trading, high transaction throughput, and a seamless developer experience, particularly for Web3 games, is the fourth most traded blockchain network in the NFT market this last week of October. In the past seven days, Immutable-based NFTs have amassed a trading sales volume of $6.8 million, representing a 21% increase from the previous week.
Solana, a high-performance network and decentralized platform known for its fast transactions and extremely low costs, making it a popular choice for minting, trading, and managing non-fungible tokens as a more efficient alternative to Ethereum, is the fifth most traded blockchain network in the NFT market this past week of October. Over the past seven days, Solana NFTs have recorded a trading sales volume of $6 million, representing a 31% increase from the previous week.
Top Selling NFTs This Week
1. DX Terminal NFT Collection
DX Terminal, a non-fungible token collection featuring a limited edition of 36,351 digital items hosted on the Base blockchain network, is the most-selling NFT collection in the NFT market this last week of October. In the past seven days, the DX Terminal NFT collection has recorded a trading sales volume of $6 million. During this period, the DX Terminal NFT sales volume has decreased by 22% compared to the past week.
2. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, a globally acknowledged non-fungible token collection from the digital asset incubation studio featuring a limited edition of 10,000 ape profile pictures hosted on the Ethereum blockchain network, is the second most-selling non-fungible token collection in the global NFT market this last week of October. In the past seven days, the Bored Ape Yacht Club NFT collection has amassed a trading sales volume of $5.7 million.
3. DMarket NFT Collection
DMarket, a non-fungible token collection on the Mythos Chain that represents in-game virtual items of popular online games like Counter-Strike, Rust, and Dota 2, is the third most-selling NFT collection in the global NFT market this last week of October. In the past seven days, the DMarket NFT collection has amassed a trading sales volume of $5.7 million. During this time, the DMarket NFT trading sales volume has decreased by 37% compared to the past week.
4. Pudgy Penguins NFT Collection
Pudgy Penguins, a globally recognized non-fungible token collection from the digital asset firm Igloo, featuring a fixed set of 8,888 penguin NFTs hosted on the Ethereum blockchain network, is the fourth most-selling NFT collection this last week of October. In the past seven days, the Pudgy Penguins NFT collection has generated a trading sales volume of $5 million, representing a 36% increase from the previous week.
5. CryptoPunks NFT Collection
CryptoPunks, a globally acknowledged non-fungible token collection featuring a limited edition of 10,000 pixilated digital items previously created by the digital asset incubation studio Larva Labs but now managed by Infinite Node Foundation, is the fifth most-selling NFT collection in the global NFT market this last week of October. Over the past seven days, the CryptoPunks NFT collection has generated a trading sales volume of $4.4 million, representing a 114% increase from the previous week.
6. Guild of Guardians Heroes NFT Collection
Guild of Guardians Heroes (GoG), a non-fungible token collection from Guild of Guardians, an on-chain multiplayer, action, and mobile fantasy role-playing game that allows players to role-play as heroes and move through dungeons to gather redeemable resources, is the sixth most-selling NFT collection in the NFT market this last week of October. In the past seven days, the Guild of Guardians NFT collection has generated a trading sales volume of $4 million, representing a 22% increase from the previous week.
7. Warplets NFT Collection
Warplets, a set of unique, dynamically generated non-fungible tokens collection that transforms a user’s Farcaster profile information, like their PFP and FID, into a vibrant, meme-inspired digital character, is the seventh most-selling NFT collection in the global NFT market this last week of October. In the past seven days, the Warplets NFT collection has recorded a trading sales volume of $2.3 million.
8. $?? BRC-20 NFT Collection
$??, a non-fungible token collection created on Bitcoin, a peer-to-peer blockchain network, using the BRC-20 protocol, is the eighth most-selling non-fungible token collection in the global NFT market this last week of October. In the past seven days, the $?? BRC-20 NFT series has raised a trading sales volume of over $1.9 million. During this period, the $?? BRC-20 NFT trading sales volume has plunged by 32% from the past week.
9. Courtyard NFT Collection
Courtyard, a non-fungible token collection featuring generative unique digital items living on the Polygon blockchain network, is the ninth most-selling non-fungible token collection in the NFT market this last week of October. In the past seven days, the Courtyard NFT collection has raised a trading sales volume of $1.9 million. During this time, Courtyard NFT trading sales have decreased by 21% compared to the past week.
10. Pangolin V3 Position NFT Collection
Pangolin V3 Position, a non-fungible token collection representing the unique liquidity provider positions within the Pangolin V3 decentralized exchange (DEX) protocol, is the tenth top-selling non-fungible token collection this last week of October. In the past seven days, the Pangolin V3 Position NFT collection has recorded a trading sales volume of $1.8 million. During this period, the Position V3 Position NFT trading sales volume has surged by 137% from the past week.
Top NFT Sales Made This Last Week Of October
Gondi User Vault #790 NFT collection is the top sale made this last week, October, selling for $1 million one day ago. CryptoPunks #8350 NFT collection is the second-highest NFT sale made this last week of October, selling for $207,922 just a few hours ago. Pangolin V3 Position is also the top NFT made this last week, October, selling for $162,000 four hours ago. NFT experts suggest that the NFT market is expected to “explode” in Q4 2025, though not in the same way it did during the speculative boom of 2021.