The post CryptoPunks Lead NFT Market Recovery Despite Overall Sales Decline appeared on BitcoinEthereumNews.com.

The NFT market has recently witnessed a significant downturn, characterized by declining sales and participant numbers. However, certain collections like CryptoPunks and Guild of Guardians have managed to see increased sales amid the broader decline. Despite these short-term challenges, projections indicate potential market recovery by year’s end. Discover the latest trends in the NFT market, from fluctuations in sales to the leading collections making waves, and what’s projected for the near future in our detailed analysis. NFT Market Records a Significant Decline in Sales In the past week, the NFT market observed a 7.91% drop in sales, reaching a total volume of $74.86 million, according to DappRadar. Ethereum topped blockchain sales, generating $27.25 million; however, this represents a 9.73% decline in Ethereum-based NFT sales. Bitcoin, on the other hand, saw an increase of 31.01%, securing $14.89 million, while Solana reported $12.47 million, a decrease of 12.31%. Top-performing Collections Amid Market Volatility Interestingly, despite the general downturn, specific NFT collections have performed remarkably. CryptoPunks emerged as the top collection, with sales at $5.39 million, marking a 9.45% increase. Bitcoin BRC20 NFTs saw an extraordinary surge of 475%, earning $3.45 million. Immutable X’s Guild of Guardians followed with $3.28 million in sales, a 4% rise. Meanwhile, Ether-based Sorare and BNB’s Luxemarathoner each garnered $2 million, though the latter experienced a 22% decline. Noteworthy Sales and Market Dynamics The week’s most expensive NFT sale was Cryptopunk #9368, which fetched $1.27 million. Other notable sales included Solana’s Boogle #025 at $143,070 and BNB’s Paraluni Perpetual Bond at $129,337. Despite a general drop in activity, premium collections like these continue to capture attention and significant investment. Guild of Guardians and Luxemarathoner See Strong Growth Over the past week, Guild of Guardians reported $3.3 million in sales, a modest 1.69% increase. Luxemarathoner, based on Binance’s BNB…

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Filed under: News - @ September 14, 2024 2:20 pm