Ethereum NFT Sales Drop 7.41% Again This Week

Krutika Adani

Week-On-Week Decline

Weekly NFT sales have been in a downtrend since the start of May 2024.

Last Week’s Data

Ethereum NFTs have made $37 million in sales in the last seven days, down by 7.41% since the previous week.

Memecoins Have Pushed NFTs Out of Focus

The fall in NFT Sales can be attributed to the memecoin frenzy that has dominated crypto narratives in 2024.

Other Blockchains Also Face Decline

Bitcoin Ordinals, Solana, and ImmutableX are among other chains that have faced a decline recently.

Hopes High of Market Revival

Experts believe that the NFT markets might see a revival, once the memecoin frenzy subsides.