Non-fungible tokens took a short market breather this past week after more than seven weeks of vigorous bullish rally. The NFT market bull run began sometime in early November, with BRC-20s alongside other NFTs leading the short rally. In this article, we shall explore what you should expect this last week of December 2023.

NFT Sales Dip 35% In The Past 7 Days

Data compiled by CryptoSlam.io, an on-chain market data aggregator, indicates that the global non-fungible token market has slightly shrunk in sales in recent days. In the past seven days, the NFT market has amassed a trading sales volume of $395 million, representing a 35% decline from the previous week.

Bitcoin-based NFTs have been the most traded NFT collection this festive week. In the past seven days, Bitcoin NFTs have attracted a trading sales volume of $201 million. Nonetheless, Bitcoin NFT sales plunged 49% this past week from the previous week.

Non-fungible token collections hosted on Solana, the decentralized blockchain network that uses proof of stake consensus mechanism, have been the second most-traded NFT collections this week. In the past seven days, the Solana-based NFT collection has raised a trading sales volume of $85 million. Solana NFTs plunged 13% this past week.

Source: CryptoSlam.io, NFT sales by blockchains

Digital collectibles hosted on Ethereum, the largest blockchain network for non-fungible tokens, have been the third most trading NFT collection this past week. In the past seven days, Ethereum-based NFTs have attracted a trading sales volume of $75 million. Ethereum NFTs plunged 15% during this period.

Non-fungible tokens hosted on Polygon and Arbitrum blockchains have been the fourth and five most traded NFT collections this past week. In the past seven days, Polygon NFTs have amassed a trading sales volume of $8 million, while Arbitrum NFTs raised a sales volume of $5 million.

Top Selling NFTs In The Past 7 Days:

Source: CryptoSlam.io, top-selling NFTs

1. Bitcoin Ordinals ‘Uncategorized NFTs’

Bitcoin Ordinals, the non-fungible tokens created on the Bitcoin blockchain network using Satoshi Nakamoto’s ordinals theory, has been the top-selling NFT collection this past week. In the past seven days, Bitcoin ordinals have attracted a trading sales volume of $23 million.

2. Open SolMaps NFTs

SolMaps, an NFT collection of 600 real-world cities, hand-pixelated using open-source geodata, has been the second most-selling NFT collection this past week. In the past seven days, the SolMap NFT collection has recorded a trading sales volume of $12 million.

3. $RAT BRC-20 NFTs

$RAT, an animal-inspired non-fungible token created on the Bitcoin blockchain using the BRC-20 protocol, has been the third most-selling NFT collection this past week. In the past seven days, the $RAT NFT collection has amassed a trading sales volume of $7.8 million. $RAT NFT sales fell 78% last week from the previous week.

4. $SQTS BRC-20 NFTs

$SQTS, another NFT collection created on the Bitcoin blockchain using the BRC-20 protocol, has been the past week’s fourth most-selling NFT collection. In the past seven days, the $SQTS BRC-20 NFT collection has recorded a trading sales volume of $5.9 million. $SQTS NFT sales declined 65% during this period.

5. $BIIS BRC-20 NFTs

$BIIS, another NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, has been the past week’s fifth most-selling NFT collection. In the past seven days, the $BIIS NFT collection has recorded a trading sales volume of $5.7 million. During this period, $BIIS BRC-20 NFT sales rise 56 % from the previous week.

Source: CryptoSlam.io, top-selling NFTs in the past 7 days

6. Bitcoin Frog NFTs

Bitcoin Frogs, the newly launched non-fungible token fashioned after frogs, has been the sixth most-traded collection in the past week. In the past seven days, the Bitcoin Frog NFT collection has recorded a trading sales volume of $5.6 million. During this period, Bitcoin Frogs NFTs sales have dropped 55% from the previous week.

7. $SAT BRC-20 NFTs

$SAT, another non-fungible token created on the Bitcoin blockchain network using BRC-20 protocol, has been past week’s seventh most-selling NFT collection. In the past seven days, the $SAT NFT collection has amassed a trading sales volume of $5.4 million. $SAT NFT sales fell 87% last week from the previous week.

8. $MICE BRC-20 NFT Collection

$MICE, another animal-inspired non-fungible token created on the Bitcoin blockchain network using the BRC-20 protocol, has been the past week’s eighth most-selling NFT collection. In the past seven days, the $MICE NFT collection has recorded a trading sales volume of $5.3 million. $MICE NFT sales fell 82% from the previous week.

9. Mad Lads NFT Collection

Mad Lads, an NFT collection from the Solana framework development company Coral that features a limited edition of 10,000 profile picture NFTs, has been the past week’s ninth most-selling NFT collection. In the past seven days, the Mad Lads NFT collection has recorded a trading sales volume of $5.2 million.

10. Floganas NFT Collection

Floganas, a non-fungible token collection hosted on the Solana blockchain network, has been the past week’s tenth most-selling NFT collection. In the past seven days, Floganas NFT collection has recorded a trading sales volume of $5 million, closing our ten top-selling NFT collections this past week.

NFT Market Prediction: NFTs To Continue Rallying In 2024

The non-fungible token market is expected to continue rallying this last week of December, with the entire crypto market forecasted to experience another market rally similar to the historic 2020 -2021 bull run in 2024. In the meantime, the NFT market appears to be kicking off the short end-of-year market rally. In the past 24 hours, the NFT market is up 38%, amassing a sales volume of $54 million.

Source: CryptoSlam.io, NFT Sales in the past 24 hours

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• Source: https://insidebitcoins.com/news/nft-sales-fall-35-this-past-week-heres-what-you-should-expect-this-week