Bored Ape sells for $1.43M amid 8.78% drop in NFT market

The NFT market has experienced a notable decline this week, with total sales dropping by 8.78% compared to the previous week, totaling $77.46 million.

Both buyers and sellers have sharply decreased, with the number of buyers down by 64.47% and sellers down by 66.40%.

Despite the overall downturn, some significant sales took place, including a Bored Ape Yacht Club (BAYC) NFT that sold for $1.43 million, marking the highest NFT sale of the week.

While the broader NFT market struggled, Bitcoin-based (CRYPTO:BTC) NFTs saw a surprising rise in sales, increasing by 29.36% to reach $16.78 million. 

Ethereum (CRYPTO:ETH) remained the leading blockchain for NFTs, generating $27 million in sales, reflecting a 4.95% increase from the prior week.

Solana followed as the third-ranking blockchain, with NFT sales rising modestly by 1.95%, bringing in $11.38 million.

Among NFT collections, Mythos’ (CRYPTO:MYTH) Dmarket emerged as the highest-grossing, generating just over $5 million, although it faced a significant 64.26% decline from the previous week.

Bitcoin Puppets secured the second position with $3.46 million in sales, marking a remarkable 78.52% increase.

In third place, Immutable X’s Guild of Guardians (CRYPTO:GOG) generated $2.94 million but saw a slight decline of over 6%.

The top individual sales this week were led by BAYC #7940, which fetched $1.43 million within the last 24 hours.

Other noteworthy sales included an Axie Infinity (CRYPTO:AXS) NFT from the Ronin (CRYPTO:RON) blockchain that sold for $90,107 and an Ordinal Maxi Biz digital collectible that went for $83,627.

Although some NFT collections and specific blockchains demonstrated positive trends, the overall decline in sales underscores a shift in the market.