The Non-Fungible Tokens (NFTs) market has witnessed a notable decline in sales over the past month. Recent updates reveal that NFT sales have dipped by more than 13% compared to the previous week.

Market Contrast

This downtrend in NFT marketplaces contrasts sharply with the remarkable achievements seen in other sectors throughout March and the last week. For instance, crypto trading volume reached an all-time high in March, with spot trading volume rising by 108% to $2.94 trillion.

Similarly, there has been a surge in demand for Spot Bitcoin ETFs, with total net inflows surpassing $12.6 billion. BlackRock’s IBIT leads in this aspect with a total inflow of $14.77 billion.

Sales Decline

However, the NFT marketplaces have seen a consecutive decline in sales, with a 13.72% decrease from the previous week. This marks the fourth week in a row of declining sales. From March 29 to April 5, the market experienced a significant downturn, with top NFT blockchains witnessing weekly dips in sales.

Bitcoin NFTs

Bitcoin-based NFT sales have notably decreased by 17.99% from the previous week, despite accumulating over $66 million in the last seven days. Ethereum follows closely with $63.98 million in sales, representing an 8.89% fall.

Other leading NFT blockchains, such as Solana, Mythos, and Polygon, have also experienced declines in sales by 12.70%, 4.36%, and 19.7%, respectively.

Considering leading NFT collections, Uncategorized Ordinals secured the top position in NFT sales over the week with $21.11 million, followed by the Bored Yacht Club (BAYC) with $6.68 million.