NFT Sales Decline 36% in April 2024 – Could this lead to a positive trend?

For three consecutive months since the NFT market began to decline, NFT (Non-fungible Token) trading volume plummeted again this month. The NFT market began to drown in February of this year after the hype that led to its revival died down.

NFT sales decline by 36% in April 2024

The global non-fungible token market is back on a downward trend this month, according to data obtained by cryptoslam.io, an on-chain multi-chain non-fungible token market explorer and cryptocurrency market data and analytics company. Over the past 30 days, the global NFT market recorded trading volume of $1.05 billion, a 36% decrease from the previous month.

Bitcoin, the same blockchain network that powers the flagship cryptocurrency, was the most traded blockchain network in the non-fungible token ecosystem this month. Over the past 30 days, transactional sales of Bitcoin-based NFT collections reached $486 million.

Ethereum, the blockchain network known for supporting the majority of blue-chip non-fungible token collections, is the second most traded blockchain network in the NFT ecosystem this month. In the past 30 days, Ethereum-based NFT collections have recorded $248 million in transaction sales.

Source: cryptoslam.io, blockchain NFT sales in the past 30 days.

Solana, an open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, is the third most traded blockchain network in the NFT ecosystem this month. In the past 30 days, Solana-powered NFT collections have recorded $158 million in trading volume.

Polygon, the Ethereum scalable blockchain network, is the fourth most traded blockchain network in the NFT ecosystem this month. Over the past 30 days, the Polygon-based NFT collection has generated $53 million in trading volume. Bitcoin, Ethereum, Solana, and Polygon recorded negative growth this month.

Top Selling NFT Collections for April 2024

Source: Tiexo.com, Top selling NFT collections in the last 30 days

1. Runestone NFT Collection

Runestone, a collection of non-fungible tokens created on the Bitcoin blockchain network, consists of 112,383 stones inscribed with ancient runes and is the best-selling NFT collection this month. The Runestone NFT collection, which was airdropped last month to NFT traders who held original Bitcoin ordinals in the past 30 days, attracted a trading volume of 2,007 BTC. Runestone NFT sales surged 39.84% compared to the previous month.

2. Boring Monkey Yacht Club NFT Collection

Bored Ape Yacht Club, a collection of non-fungible tokens from digital asset company Yuga Labs, features a limited edition of 10,000 NFTs and is the second best-selling NFT collection of the month. Over the past 30 days, the Bored Ape Yacht Club NFT collection has sold 31,031 ETH. Unfortunately, Bored Ape NFT sales decreased 19% month-on-month.

3. $PUPS BRC-20 NFT Collection

$PUPs, a collection of non-fungible tokens created on the Bitcoin blockchain network using the Brc-20 protocol, are the third best-selling NFT collection this month. Over the past 30 days, the $PUPs BRC-20 NFT collection has recorded a trading volume of 1,049 BTC. $PUPs NFT sales have surged 1000% since last month.

4. $Wzrd BRC-20 NFT Collection

$Wzrd, another collection of non-fungible tokens created on the Bitcoin blockchain network using the BRC-20 protocol, is the fourth best-selling NFT collection this month. Over the past 30 days, the $Wzrd BRC-20 NFT collection has recorded a trading volume of 1,036 BTC. $Wzrd NFT sales surged 1000% compared to the previous month.

5. Chunky Penguin NFT Collection

Pudgy Penguins, an irreplaceable collection from toy brand Pudgy Penguins featuring a fixed set of 8,888 NFTs, is the fifth best-selling NFT collection of the month. Over the past 30 days, the Pudgy Penguins NFT collection has recorded a trading volume of 20,059 ETH. Pudgy Penguins NFT sales are down 35% this month compared to last month.

Source: Tiexo.com, Top selling NFT collections in the last 30 days

6. Mutant Monkey Yacht Club NFT Collection

Mutant Ape Yacht Club, another collection of non-fungible tokens from digital asset company Yuga Labs, is a limited supply of 20,000 NFT collections and is the sixth best-selling NFT collection of the month. Over the past 30 days, Mutant Ape Yacht Club has recorded a trading volume of 15,064 ETH. Mutant Ape Yacht Club NFT sales plummeted 3.19% compared to last month.

7. Proganas NFT Collection

Froganas, a collection of non-fungible tokens from digital artist Tee, features a limited set of 5,555 humanoid flogs hosted on the Solana blockchain network and is the seventh best-selling NFT collection of the month. Over the past 30 days, the Froganas NFT collection has recorded transaction sales of 352,008 SOL. Proganas NFT sales decreased by 60% compared to last month.

8. RunePups NFT Collection

Rune Pups, a collection of non-fungible tokens featuring a limited edition of 20,000 Pups hosted on the Bitcoin blockchain network, is the eighth best-selling NFT collection of the month. Over the past 30 days, the Rune Pups NFT collection has recorded a trading volume of 718 BTC. RunePups NFT sales surged 1,000% this month compared to the previous month.

9. Bitcoin Doll NFT Collection

Bitcoin Puppets, a non-fungible token collection of 10,001 unique profile pictures (PFPs) hand-drawn in MS Paint by a 12-year-old, is the ninth best-selling NFT collection this month. Over the past 30 days, the Bitcoin Puppets NFT collection has seen a trading volume of 600 BTC. Bitcoin doll NFT sales in April decreased by 5.21% compared to the previous month.

10. Prometheans NFT Collection

Prometheans, a collection of non-fungible tokens from renowned digital artist and Cyberkongz NFT creator Myoo, is the top 10 best-selling NFT collection this month. Over the past 30 days, the Prometheans NFT collection recorded a trading volume of 556 BTC, rounding out the top 10 best-selling NFT collections of the month.

Highest NFT sales in April 2024

CryptoPunk #635 is the most expensive collection of non-fungible tokens sold this month, selling for $12.4 million five days ago. LockDeal NFT #51,202 is the second most expensive NFT collection sold this month, selling for $651,063 25 days ago. Bitcoin Ape #2301 is the third most expensive NFT collection sold this month, selling 19 days ago for $459,437.

Source: cryptoslam.io, Most Expensive NFTs Sold in Last 30 Days

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