The non-fungible (NFT) tokens outperformed the fungible ones over the last seven days. In fact, the ten largest collections recorded an average gain of 6,4% during the period. according NFT Price Floor, a price aggregator.
In contrast, the sector of fungible tokens registered a negative 8.6% average return, with native tokens only from centralized exchanges registering positive returns.
Mixed performance
Space Doodles was the NFT collection that had the biggest upside. Their dollar-nominated prices rose by 44.7%.
Lil Pudgys from Pudgy Penguins, a secondary collection, grew by 35.1%, and was the second largest return among the top 10 collections. Space Doodles primary collection Doodles followed closely behind with its 34.8% growth per week.
Azuki Penguins, and Pudgy Penguins, also experienced positive growth, rising by 14.2% each. Meanwhile, Bored Ape Yacht Club BAYC and CryptoPunksThe average return of the 10 most popular collections was impacted by two of the NFT collections that were the most popular on the market.
Bored Ape NFTs dropped nearly 19% during the same time period, while CryptoPunks (BAYC’s spin-off) and Mutant Ape Yacht Club fell respectively by 9.35%, 15.77% and 15.75%.
The in the same period.
The NFT market, despite its positive average performance on three of the largest blockchains based on trading volume, is still stagnant.
Data from CryptoSlam shows The weekly NFT sales of Ethereum (ETH) surpassed $129 million but are down 28.5%. NFT trading Bitcoin (BTC) amassed a significantly smaller volume, reaching $29.3 million, with a 46% weekly slump.
Solana (SOL) wrapped the top 3 blockchains by NFT activity, with $24.3 million in volume and a 38.5% negative weekly variation.
Fall from glory
Although the floor prices for most of these top 10 NFT collection are far below their peaks, they have still seen two-digit increases. CryptoPunks peaked at nearly 114 ETH on Oct. 8, 2021, and its floor is priced at 39.89 ETH as of press time — a 65% drawdown.
The Bored Ape NFTs – arguably the most popular collection of the previous bull cycle – reached their all time high at 128 Eth on April. 22, 2022. At the current price of 17, ETH, however, they have fallen by nearly 87%.
Mutant Ape Yacht Club was the collection that suffered the most from the greatest correction in comparison to the all-time highs. The current price of 3,12 ETH, is 91% lower than the 35.58 ETH that they had in April. 27, 2022.
