NFT Sales Drop 25% Throughout the 3rd Week of April 2024, Why?

Liputan6.com, Jakarta The latest data for the seven-day period ending April 21, 2024, shows that sales of non-fungible tokens (NFT) have decreased by 25.48%, with a total of around USD 236.96 million or the equivalent of IDR 3.8 trillion (assuming an exchange rate of IDR 16,218 per US dollar).

Reporting from Bitcoin.com, Wednesday (24/4/2024), Bitcoin again dominated the NFT market this week, contributing USD 111.8 million or the equivalent of IDR 1.8 trillion to overall sales since April 14. Even so, this figure represents a decrease of 35.63%.

Ethereum also experienced a decline, with sales falling 20.38% to USD 49.58 million or the equivalent of IDR 804.1 billion. Solana sales fell 17.13% to USD 34.82 million or the equivalent of IDR 564.7 billion, while Polygon bucked the trend with an increase of 33.21%, generating sales of USD 15.4 million or the equivalent of IDR 249.7 billion.

Ordinal Uncategorized Bitcoin is the best-selling NFT collection with sales of USD 32.89 million or the equivalent of IDR 533.4 billion. Even though it experienced a decrease of 42.26% from the previous week. The WZRD BRC20 collection was in second place, recording sales of USD 21.05 million or the equivalent of IDR 341.3 billion, an increase of more than 160% from last week.

The third best-selling NFT collection was PUPS BRC20, which garnered sales of USD 14.96 million or the equivalent of IDR 242.6 billion, marking a 64.91% decrease from last week. Four of the top five collections come from the Bitcoin blockchain.

The most expensive NFT sold this week was a BTC-based NFT from the PUPS BRC20 collection, priced at USD 317,718 or the equivalent of IDR 5.1 billion. Then the second most expensive is Cryptopunk #4,473 based on Ethereum, which sells for USD 231,801 or the equivalent of IDR 3.7 billion.

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