The global non-fungible token market has not fully recovered from the recent crash, with trading volumes and active traders still below their initial peak. The NFT market was healthy until earlier this month, when it crashed after President Donald Trump revived trade wars with China and Canada. In yet another week, the NFT market has plunged, recording a trading sales volume of $95 million, down 32% from the past week.
NFT Sales Plunge 32% In The Past Week
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 plunged again this past week. From October 21 to October 27, the global NFT market recorded a trading sales volume of $95 million, down 32% from the previous week.
The crypto and NFT market experienced a downturn this past week after significant volatility and a market crash earlier in October. Key factors contributing to this NFT decline include escalating U.S.-China trade tensions, a significant futures market liquidation event, and a corresponding shift in market sentiment towards fear. Over the weekend, US President Donald Trump imposed a 10% tariff on Canadian goods not covered by the USMCA.
Despite the fall in non-fungible token trading sales volume, floor price values, and active traders, the number of crypto investors buying non-fungible token collections has significantly increased this past week. From October 21 to October 27, the global non-fungible token market saw more than 500,000 traders buying digital collectibles. NFT traders took advantage of this NFT market dip, hoping to make a gain in the future.
NFT Sales by Blockchain Network
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 this past week. From October 21 to October 27, the Ethereum-based NFTs raised a trading sales volume of $37 million. During this period, the Ethereum NFT trading sales volume has fallen by 52% from the previous 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 this past week. From October 21 to October 27, the Bitcoin-based NFT collections amassed a trading sales volume of $13 million. During this time, Bitcoin NFT trading sales have increased by 18% from the previous week.
Base, a user-friendly and affordable Ethereum Layer-2 network developed by Coinbase, which focuses on scalability and onboarding the next billion users to web3, was the third most-traded blockchain network in the NFT market this past week. From October 21 to October 27, the Base NFT collection raised a trading sales volume of $9.3 million, down 31% from the previous week.
Mythos Chain, a renowned blockchain network offering secure and efficient transactions across the entire Mythos non-fungible token gaming ecosystem, was the fourth most traded network in the global NFT market this past week. From October 21 to October 27, the Mythos Chain-based NFT collections have raised a sales volume of $8.5 million. During this time, the Mythos Chain NFT trading sales volume has surged by 3.94% from the previous week.
Immutable X, an Ethereum layer-2 scaling solution network that enables gas-free, instant non-fungible token transactions and powers Web3 gaming by leveraging its StarkWare’s zero-knowledge rollup technology, was the fifth most traded blockchain network in the NFT market this past week. From October 21 to October 27, the Immutable-based NFT collection raised a trading sales volume of $6.6 million. During this time, Immutable NFT sales volume has risen by +37% from the previous week.
Top Selling NFTs This Past Week
1. DMarket NFT Collection
DMarket, a non-fungible token collection representing in-game virtual items of popular online games like Counter-Strike, Rust, and Dota 2, was the most-selling NFT series in the global NFT market this past week. From October 21 to October 27, the DMarket NFT collection amassed a trading sales volume of $8.3 million. During this time, the DMarket NFT trading sales volume increased by 3.03% from the previous week.
2. DX Terminal NFT Collection
DX Terminal, a non-fungible token collection featuring a limited edition of 36,351 digital assets hosted on the Base blockchain network, was the second most-selling NFT collection in the global NFT market this past week. From October 21 to October 27, the DX Terminal NFT collection recorded a trading sales volume of $6.4 million. During this period, the DX Terminal NFT sales volume plunged 37% from the previous week.
3. Pudgy Penguins NFT Collection
Pudgy Penguins, a non-fungible token collection from the digital asset incubation studio, Igloo, featuring a limited edition of 8,888 penguin NFTs hosted on the Ethereum blockchain network, was the third most-selling NFT collection this past week. From October 21 to October 27, the Pudgy Penguins NFT collection raised a trading sales volume of $4.1 million. During this time, the Pudgy Penguins NFT sales fell by 52% from the previous week.
4. GoG 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, was the fourth most-selling NFT collection in the global NFT market this past week. From October 21 to October 27, the GoG Heroes NFT collection raised $4 million. During this time, the GOG Heroes NFT sales surged 40% 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, was the fifth most-selling NFT collection in the NFT market this past week. From October 21 to October 27, the CryptoPunks NFT series raised a trading sales volume of $3.1 million, up 73% from the previous week.
6. $ATMC BRC-20 NFT Collection
$ATMC, a renowned non-fungible token collection created on Bitcoin, a peer-to-peer blockchain network, using the BRC-20 protocol, was the sixth most-selling non-fungible token collection in the global NFT market this past week. From October 21 to October 27, the $ATMC BRC-20 NFT series has recorded a trading sales volume of $3 million. During this time, the $ATMC BRC-20 NFT trading sales volume has surged by 15% from the previous week.
7. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, a globally acknowledged non-fungible token collection from the digital asset incubation studio, Yuga Labs, featuring a limited edition of 10,000 profile pictures hosted on the Ethereum blockchain network, was the seventh most-selling NFT collection this past week. From October 21 to October 27, the Bored Ape Yacht Club NFT collection raised a trading sales volume of $3 million. During this time, the Bored Ape Yacht Club NFT trading sales surged 13% from the previous week.
8. $?? BRC-20 NFT Collection
$??, another renowned non-fungible token collection created exclusively on Bitcoin, a peer-to-peer blockchain network, using the BRC-20 protocol, was the eighth most-selling non-fungible token collection in the global NFT market this past week. From October 21 to October 27, the $?? BRC-20 NFT collection recorded a trading sales volume of $2.8 million. During this time, the $?? BRC-20 NFT trading sales volume has surged 84% from the previous week.
9. Courtyard NFT Collection
Courtyard, a non-fungible token collection featuring generative, unique digital items living on the Polygon blockchain network, was the ninth most-selling non-fungible token collection in the global NFT market this past week. From October 21 to October 27, the Courtyard NFT series raised a trading sales volume of $2.4 million. During this time, the Courtyard NFT trading sales increased by 16% from the previous week.
10. Sorare NFT Collection
Sorare, a non-fungible token collection featuring a set of unique, blockchain-based digital trading cards representing real-life athletes from licensed professional sports leagues, such as football, basketball, and baseball, that users collect, trade, and use to play fantasy sports on the Sorare platform, was the tenth most-selling NFT series in the NFT market this past week. From October 21 to October 27, the Sorare NFT collection amassed a trading sales volume of $1.7 million, up 3% from the previous week.
Top NFT Sales Made This Past Week
Cordano’s Good Deed NFT collection was the top NFT sale made this past week, selling for $44 million three days ago. gUSDC locked deposit #473 was the second top sale made this past week, selling for $500,000 four days ago. Punks #3677 was the third top NFT made last week, selling for $307,957 two days ago. Industry experts predict that the NFT market will probably rise again in the coming weeks, though not like it did during the speculative boom of 2021.