Crypto Market Rout Pulls the Floor out From Blue-Chip NFTs, Weekly Sales Down 64%

Crypto Market Rout Pulls the Floor out From Blue-Chip NFTs, Weekly Sales Down 64%

As markets slid in value during the past week, non-fungible token (NFT) floor values have dropped considerably. Blue-chip NFT collections like Bored Ape Yacht Club (BAYC), Cryptopunks, and more have seen their floor values drop between 2-25% in the last 24 hours. NFT Floor Values Take a Significant Beating NFT sales have dropped 64.84% lower than the week prior during the last seven days. Nearly every popular NFT collection is down considerably when it comes to week-over-week sales. Otherdeed sales are down 90.31%, BAYC sales have slid 63.73%, Mutant Ape Yacht Club (MAYC) sales are down 65.73%, and Cryptopunks sales are under by 3.39% this past week. NFT floor values have slid a great deal in value during the past 24 hours as the crypto market carnage has not been kind to digital collectibles. BAYC’s floor value today is 2.9% lower at 97 ether or $191K. The current Cryptopunks’ NFT floor has lost 7% and the floor value of the least expensive Cryptopunk NFT is 48.85 ether or $96K. Moonbirds NFTs are down 10.9% during the last day and the floor value is 21.5 ether or $42K. $1.7 billion in NFT sales volume was recorded seven days ago, and this week’s volume is down to $631.5 million. The NFT collection Azuki took the top sales this week with $102 million in sales volume which is an increase of around 208.55% since last week’s Azuki sales. 24-hour stats show Azuki’s floor value this weekend is 14.16 ether or $27.8K, which is 0.3% lower than the day prior. Doodle’s NFT floor value has increased 2.5% during the past day and currently, the Doodle NFT floor value is 13.95 ether or $27.4K. 16 different blockchains saw sales decline since last week except for Tezos-based NFT sales, up 15.07% this week. Metrics from cryptoslam.io show the most expensive NFT sold this week was BAYC 7,520, which sold 21 hours ago for 115 ether or $238K. Tags in this story 7-day NFT sales, Azuki, Azuki NFTs, Bored Ape Yacht Club, cryptopunks, cryptoslam.io, Doodles, Ethereum, Floor Values, MAYC, nft, NFT collection, NFT collections, NFT floor values, NFT sales, NFT sales volume, NFT weekly sales, NFTs, Non-fungible Token, Otherdeeds, sales, Sales Volume

What do you think about high-profile NFT floor values dropping? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Report: Terra Founder Do Kwon"s Spouse Seeks Police Protection After the LUNA and UST Fallout NEWS | 9 hours ago Chainalysis Reaches $8.6 Billion Valuation In $170 Million Series F Funding Round NEWS | 18 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGermany Declares Crypto Gains Tax-Free After 1 Year — Even if Used for Staking, Lending Next articleNumber of Busted Illegal Crypto Mining Farms in Iran Nears 7,000 Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms