NFT Bull Run Cools Off

The non-fungible token market has taken a short recess this week, with its trading sales volume plummeting over 50%. The NFT market is flatlining as the global crypto market suffers a light downturn. Bitcoin, the world’s largest crypto asset, and Ethereum have plunged +3% to $95,000 and $3,300 levels in the past five days. Has the recent Ethereum NFT market Bull Run ended?

NFTs Weekly Sales Volume Plunge 51%

Data compiled by cryptoslam.io, an on-chain crypto market data aggregator and a non-fungible token market data explorer, shows that the global non-fungible token market has plunged in sales volume this week. In the past seven days, the NFT market has recorded a trading sales volume of $146 million, down over 50% from the past week. The NFT market recorded over +$300 million last week.

Ethereum, the blockchain network renowned in the NFT market for hosting the majority of blue-chip NFTs, has been the most traded blockchain network in the global NFT market. In the past seven days, the Ethereum-based NFTs have amassed a trading sales volume of $70 million. However, the Ethereum NFT trading sales volume has plunged by 65% this week from the past week.

Bitcoin, the blockchain network renowned in the non-fungible token market for hosting Runes, Ordinals, and BRC-20 NFTs, is this week’s second most-traded blockchain network in the NFT market. In the past seven days, the Bitcoin-based NFT collections have amassed a trading sale volume of $28 million. During this period, the Bitcoin NFT trading sales volume has fallen by 22% from the past week.

Solana, a blockchain network that uses a proof-of-stake mechanism to provide smart contract functionality for decentralized applications and non-fungible token collections, is this week’s third most traded NFT blockchain in the NFT market. In the past seven days, the Solana-based NFT collections have raised a trading sales volume of $12 million. During this period, the Solana NFT trading sales volume has plunged by 60% from the past week.

Mythos Chain, the blockchain network optimized for in-game assets within the Mythical Games ecosystem, and Immutable, another renowned blockchain gaming network, have been this week’s fourth and fifth most-traded blockchain networks in the NFT market. In the past seven days, the Mythos-based NFT collections have raised a sales volume of $1.3 million, while Immutable NFT collections have amassed a trading sales volume of $928,424.

Top Selling NFT Collections This Week

1. Pudgy Penguins NFT Collection

Pudgy Penguins, a non-fungible token collection from the digital asset firm Igloo Inc. featuring a limited set of 8,888 digital items hosted on the Ethereum blockchain network, is this week top top-selling non-fungible token collection in the NFT market. From December 22 to December 29, the Pudgy Penguins NFT collection recorded a trading sales volume of $11 million. Pudgy Penguins NFT sales volume has plunged by 78% from the past week.

2. Azuki NFT Collection

Blue-chip Azuki, a non-fungible token collection from the digital asset incubation studio Chiru Labs featuring a limited set of 10,000 anime-themed NFTs hosted on the Ethereum blockchain, is this week’s second most-selling NFT collection in the global NFT market. In the past seven days, the Azuki NFT collection has amassed a trading sales volume of $10 million. During this period, Azuki NFT sales volume has plunged by 10% from the past week.

3. $?? BRC-20 NFT Collection

$??, a renowned digital collectible collection created on the Bitcoin blockchain network, is this week’s third most-selling NFT collection in the NFT market. BRC-20 tokens are a new class of fungible tokens that operate on the Bitcoin blockchain network, utilizing the popular BRC-20 protocol to enable smart contract functionalities. From December 22 to December 29, the $?? BRC-20 NFT collection has raised a trading sales volume of $7 million, down 17% from the past week.

4. DMarket NFT Collection

DMarket, a non-fungible token collection that represents in-game virtual items of popular online games like Counter-Strike and Dota 2, is this week’s fourth most-selling non-fungible token collection in the global non-fungible token market. From December 22, 2024, to December 29, 2022, the DMarket NFT collection has amassed a trading sales volume of $6.1 million. During this period, the DMarket NFT sales volume has surged by 5.79% from the past week.

5. Guild of Guardian Heroes NFT Collection

Guilds Of Guardian, a non-fungible token collection from the video gaming platform Guilds of Guardians hosted on the Immutable X blockchain network, is this week’s fifth most-selling NFT collection in the NFT market. From December 22, 2024, to December 29, 2024, the Guilds of Guardians NFT collection has raised a trading sales volume of $5.4 million. During this period, the Guilds of Guardian NFT sales volume has surged by 5.79% from the past week.

6. Bitcoin Puppets NFT Collection

Bitcoin Puppets, a non-fungible token collection featuring a limited set of 10,000 NFTs created on the Bitcoin blockchain network using the popular ordinal protocol, has been the sixth most-selling NFT collection in the NFT market this week. From December 22, 2024, to December 29, 2024, the Bitcoin Puppets NFT collection has recorded a trading sales volume of $3.3 million.

7. Guild of Guardian Avatars NFT Collection

Guilds Of Guardian, another non-fungible token collection from the video gaming platform Guilds of Guardians hosted on the Immutable X blockchain network, is this week’s seventh most-selling NFT collection in the NFT market. From December 22, 2024, to December 29, 2024, the Guilds of Guardians Avatar collection has raised a trading sales volume of $2 million. During this period, the Guilds of Guardian NFT sales volume has surged by 15.84% from the past week.

8. Quantum Cats NFT Collection

Quantum Cats, a non-fungible token collection that features a limited set of 3,333 NFTs created on the Bitcoin blockchain network, is this week’s eighth most-selling NFT collection in the NFT market. From December 22, 2024, to December 29, 2024, the Quantum Cats NFT collection recorded a trading sales volume of $2.9 million. During this period, the Quantum Cats NFT sales volume has surged by 94% from the past week.

9. Ordinal Maxi Biz NFT Collection

Ordinal Maxi Biz, a non-fungible token collection from digital artist Tony Tafuro featuring a limited edition of 5,141 hand-drawn sketch profile picture images inscribed on the Bitcoin blockchain network, is this week’s ninth most-selling NFT collection in the NFT market. From December 22, 2024, to December 29, 2024, the Ordinal Maxi Biz NFT collection has recorded a sales volume of $2.6 million. Ordinal Maxi Biz NFT sales volume has surged by 14.17% from the past week.

10. Beanz NFT Collection

Beanz, a non-fungible token collection from the digital asset incubation studio Chiru Labs featuring a limited edition of 10,000 anime-themed NFTs hosted on the Ethereum blockchain network, is this week’s second most-selling NFT collection in the NFT market. From December 22, 2024, to December 29, 2024, the Beanz NFTs have amassed a sales volume of $2.5 million. During this period, the Beanz NFT sales volume has plunged by 46% from the past week. The NFT market is predicted to rally again this upcoming new year.

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