Market Cool Down: Bitcoin Takes Spotlight as NFT Sales Dip 25%

During the week ending April 21, 2024, data reveals a significant 25.48% decline in non-fungible token (NFT) sales, amounting to approximately $236.96 million. 

Bitcoin notably dominated this cooling market, contributing $111.8 million in sales since April 14. The leading NFT collections faced mixed fortunes: Bitcoin’s Uncategorized Ordinals led with $32.89 million in sales despite a 42.26% drop, followed by WZRD BRC20 with $21.05 million and a 160% increase. PUPS BRC20 saw a 64.91% decrease but still fetched $14.96 million. The highest-priced NFT sold was a BTC-based piece from PUPS BRC20, fetching $317,718. 

This market slowdown reflects wider trends in NFT adoption and technology, highlighting both volatility and ongoing innovation within the NFT space.

Clever Robot News Desk 22^nd April 2024