Bi-Weekly NFT: Are Ethereum NFTs back?

by Angela
Bi-Weekly NFT: Are Ethereum NFTs back?

The NFT daily trading volume has experienced a slight decline across all chains this week. Ethereum leads the daily volume with $18.1 million, followed by Solana at $5.9 million and Bitcoin at $5 million, indicating a shift in the leaderboard. Particularly noteworthy is Solana catching up with Bitcoin. It seems that the hype surrounding Bitcoin NFTs has cooled off somewhat, with collectors possibly returning to blue-chip collections or exploring new trading opportunities on Ethereum and Solana.


The decline in trading volume is also reflected in marketplace activity. Magic Eden, which supports Bitcoin, has now dropped to second place after Blur. Moreover, OpenSea, which previously had the lowest volume among the top five marketplaces, has surged to third place, jumping from a 5% to an 11% daily market share.


Here are the top 5 NFT collections across all chains based on trading volume over the past three time periods: 24 hours, 7 days, and 30 days.


The table shows that April has been dominated by Bitcoin Ordinals, led by Runstone. However, Ethereum collections are holding their ground, especially evident in the volume generated over the past week, with notable contributions from Azuki, Bored Ape Yacht Club, Mutant Ape Yacht Club, and DeGods. Mall Street, a new collection, has made an appearance in the leaderboard this week. It utilizes the SPL-404 standard, a hybrid NFT on the Solana Blockchain, marking a continuation of the ERC-404 hype, particularly spurred by Pandora, across different chains.

Mall Street Collection. Source:

Lastly, let's delve into the top five sales in the entire NFT market over the past 7 days. XCOPY's (a top 1/1 glitch artist) works continue to fetch high prices on the secondary market:

  1. Death by Algorithm by XCOPY: 256 ETH ($802.4 K)
  1. CryptoPunk #7846: 187 ETH ($559.5 K)
  1. Disconnect by XCOPY : 136 ETH ($424.1 K)
  1. Afterglow by XCOPY : 128 ETH ($405.6 K)
  1. Azuki #308 : 70 ETH ($224.9K)

Death by Algorithm
Azuki #308