Ethereum

Bitcoin

Status

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s network experienced a surge in non-fungible token (NFT) sales, surpassing Ethereum’s sales volume last week.</li>
 <li>The NFT market and popular collections like Bored Ape Yacht Club (BAYC) and CryptoPunks saw a decline in value and floor prices.</li>
</ul>
<p>Last week, the <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> network saw a significant increase in non-fungible token (NFT) sales.</p>
<p>The volume of these sales surpassed that of the <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> network, as per data from CryptoSlam.</p>
<h2 id="bitcoin-vs-ethereum-nft-sales">Bitcoin vs Ethereum NFT Sales</h2>
<p>Bitcoin’s NFT sales volume reached $43 million, marking a 26% increase.</p>
<p>Meanwhile, Ethereum’s NFT sales volume also grew by 17% but totalled only $40 million.</p>
<p>Despite this, Ethereum completed 99,297 NFT transactions last week, while Bitcoin recorded 55,351 transactions.</p>
<p>Over the past two weeks, Bitcoin’s total NFT sales value was $77.02 million, surpassing Ethereum’s $71 million.</p>
<h2 id="the-current-nft-market-status">The Current NFT Market Status</h2>
<p>The previous week saw a downturn in the general cryptocurrency market, with the global cryptocurrency market capitalization falling by 4% within a week.</p>
<p>This decline also impacted the NFT ecosystem, causing a decrease in value.</p>
<p>According to NFTGo, the NFT trading volume last week was $85.39 million, a 3% drop.</p>
<p>This resulted in a decrease in the NFT market capitalization, which is currently worth $7 billion, after depreciating by 11% in the last week.</p>
<h2 id="floor-prices-reach-new-lows">Floor Prices Reach New Lows</h2>
<p>The Bored Ape Yacht Club (BAYC), a leading NFT collection, experienced a drop in its floor price in recent weeks.</p>
<p>After reaching a peak of 13.7 ETH on 31 May, the floor price of a BAYC NFT has since fallen by 25% according to NFTPriceFloor.</p>
<p>The last time BAYC’s floor price was this low was on 15 April.</p>
<p>Over the past month, BAYC’s sales volume has also decreased, with the daily count of traders buying and selling NFTs from the collection dropping.</p>
<p>In the last 30 days, BAYC’s sales volume totalled $12 million, a 34% decrease.</p>
<p>The CryptoPunks NFT collection also saw a decline in its floor price, which was 27.42 ETH at press time, marking its lowest for the year.</p>
<p>After reaching a peak of 63 ETH on 24 January, the average price of a CryptoPunks NFT has since fallen by a significant 57%.</p>

Exploring the Battle of NFT Sales: Bitcoin’s $43M Surpassing Ethereum’s $40M

Table of Contents

CoinEagle.com

Other articles published on Jun 15, 2024

New Solana Memecoin Mommy Pepe Will Explode 14,000% Within 48 Hours – Should You Buy?

Fortifying Confidence: MoonBag's Triumph Over Bitbot and Fantom Investors' Security Dilemmas in t...

Best Crypto Presale In June 2024: MoonBag Cements Legacy, Surpassing BitBot And AAVE

Investor’s Dream: MoonBag Claims the Throne During the Top Crypto Presale in June 2024 with 88% A...

Turkish Bank Garanti BBVA Launches Crypto Wallet and Trading Services

Shiba Inu (SHIB) and Polygon (MATIC) Lose Billions But DTX Exchange (DTX) Surges Over 200%

Join our free newsletter for daily crypto updates!