NFT Sales Fell 4% This Month – Here’s The NFT Market Prediction For April 2024
The non-fungible token market has suffered another downturn for the second consecutive month this year after the initial hype that led to their resurgence faded. In this article, we shall assess in depth the state of NFTs in the past 30 days as well as what you should expect in the coming month of April.
NFT Sales Fell 4% In March 2024
Data composed by cryptoslam.io, an on-chain crypto market data aggregator, indicates that the global non-fungible token market has suffered another meltdown this ending month. In the past 30 days, the NFT market has amassed a trading sales volume of $1.3 billion, representing a 4% decline from the previous month.
The number of crypto investors buying and selling non-fungible token collections has also shrunk this month. In the past 30 days, the number of investors buying NFTs has declined by 91.54% to just 84,571, while investors selling their NFTs have reduced by 89.63% to 75,484 from the previous month.
Bitcoin, the blockchain network hosting the popular Bitcoin Ordinals and BRC-20 NFTs, is the most traded blockchain network this month of March. In the past 30 days, Bitcoin-based NFT collections have attracted a trading sales volume of $495 million, representing a 41% surge from the previous month.
Ethereum, the blockchain network renowned for hosting the majority of the blue-chip non-fungible token collection, is the second most-traded blockchain network in the NFT market this month. In the past 30 days, Ethereum-based NFT collections have garnered a sales volume of $483 million.
Source: Cryptoslam.io, nft sales by blockchains
Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, is this month’s third most-traded blockchain network in the NFT ecosystem. In the past 30 days, Solana-based NFT collections have recorded a trading sales volume of $238 million.
Polygon, an Ethereum scaling network, is this month’s fourth most-traded blockchain network in the NFT market. In the past 30 days, the Polygon-based NFT collections have garnered a trading sale volume of $35 million. During this period, the Polygon NFT sales volume has plunged 35% from the previous month.
Mythos, a permissioned EVM chain optimized for in-game assets that power the Mythical Games ecosystem, is this month’s fifth most-traded blockchain network in the NFT market. In the past 30 days, the Mythos Chain-based NFT collections have amassed a trading sales volume of $31 million. Mythos Chain NFT sales have surged 10% from the past month, closing our five top traded blockchain networks this month.
Most Selling NFT Collections In March 2024
Source: CryptoSlam.io, top selling NFTs in the past 30 days
1. Bitcoin Ordinals “Uncategorized” NFTs
Bitcoin Ordinals, a non-fungible token collection created on the Bitcoin blockchain network using Satoshi Nakamoto’s Ordinal theory, is this month’s top-selling NFT collection. In the past 30 days, Bitcoin Ordinal has recorded a trading sales volume of $165 million. The Bitcoin Ordinals sales volume has surged by 140% in the past month.
2. NodeMonkes NFT Collection
NodeMonkes, a non-fungible token collection featuring a limited edition of 10,000 NFTs created on the Bitcoin blockchain network, is this month’s second most-selling NFT collection. In the past 30 days, the NodeMonkes NFT collection has garnered a sales volume of $79 million. The NodeMonkes NFT sales have increased 98% from the past month.
3. CryptoPunks NFT Collection
CryptoPunks, an NFT collection initially from the digital asset incubation studio Larva Labs but now owned by Yuga Labs, is this month’s third most-selling NFT collection. In the past 30 days, the CryptoPunks NFT collection has amassed a trading sales volume of $58 million, representing a 152% rise from the past month.
4. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, a non-fungible token collection from the digital asset incubation studio featuring a limited supply of 10,000 apes hosted on the Ethereum network, is this month’s fourth most-selling NFT collection. In the past 30 days, the Bored Ape Yacht Club NFT Collection has recorded a trading sales volume of $41 million, representing a 98% surge from the past month.
5. Mad Lads NFT Collection
Mad Lads, an NFT collection from the Solana development project Coral featuring a limited set of 10,000 NFTs hosted on the Solana blockchain network, is this month’s fifth most-selling NFT collection. In the past 30 days, the Mad Lads NFT collection has amassed a trading sales volume of $35 million, closing our five top-selling NFTs this month. The Mad Lads NFT sales have risen 57% from the past month.
Source: CryptoSlam.io, top selling NFTs in the past 30 days
6. DMarket NFT Collection
DMarket, a non-fungible token collection hosted on the Mythos Chain blockchain network, is this month’s sixth most-selling NFT collection. In the past 30 days, the DMarket NFT collection has recorded a trading sales volume of 30 million. The DMarket NFT sales volume has surged 9.88% from the past month.
7. Pandora NFT Collection
Pandora, an NFT collection of 10,000 Replicants bound to the first tokens built on ERC404, an experimental token standard enabling persistent liquidity for Ethereum NFTs, is this month’s seventh most-selling NFT collection. In the past 30 days, the Pandora NFT collection has raised a trading sales volume of $29 million. The Pandora NFT sales volume has dropped 80% from the past month.
8. Froganas NFT Collection
Froganas, an NFT collection featuring a limited supply of 5,555 humanoid frogs created on the Solana blockchain network, is this month’s eighth most-selling NFT collection. In the past 30 days, the Froganas NFT collection has recorded a trading sales volume of $27 million. The NFT sales have surged 49% from the past month.
9. Pudgy Penguins NFT Collection
Pudgy Penguins, a non-fungible token collection from the famous toy brand Pudgy Penguins featuring a limited edition of 8888 NFTs hosted on the Ethereum blockchain network, is this month’s ninth most-selling NFT collection. In the past 30 days, the Pudgy Penguins NFTs have raised a trading sales volume of $26 million, representing a 29.59% spike from the past month.
10. Gods Unchained NFT Collection
Gods Unchained, an NFT collection from the digital trading card game Gods Unchained hosted on the Immutable X blockchain network, is this month’s tenth most-selling NFT collection. In the past 30 days, the Gods Unchained NFT collection has recorded a sales volume of $19 million, closing our ten top-selling NFT collections this month.
Top NFT Sales In March 2024
The CryptoPunk #7804 was the most expensive NFT collection sold in March, selling for $16 million eleven days ago. $ORDI BRC-20 NFT was another most expensive NFT collection sold this month, selling for $493,162 fifteen days ago. The LockDealNFT #40081 was the third costly NFT collection sold in March, selling for $416,504 thirty days ago.
Source: most expensive NFTs sold in the past 30 days
The NFT Market Prediction For April 2024
The non-fungible token market is expected to regain traction once the current meme coin mania fades. It’s worth noting that the general market operates in seasons. Statista, an on-chain analytic firm, has projected revenue in the NFT market to reach $2.378 billion in 2024. The firm expects revenue to show an annual growth rate of 9.10%, resulting in a projected total of $3.36 billion by 2028.
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- Investors Buying NFTs Increase 25% This Last Week Of March – Analysis
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