NFT Market Update | CoinCodeCap's Weekly
CoinCodeCap Weekly brings you an entire week’s market updates and news in one article. Got no time to stay updated during weekdays? No worries, we got your covered!
Weekly Data recorded:
Number of sales: 269,552
Sales USD: 187,774,256.25$
Average USD (Average price of an NFT): 696.62$
Active Market wallets: 89,321
Primary Sales: 81,788
Primary Sales USD: 7,783,713.95
Secondary Sales: 187,764
Secondary Sales USD: 187,774,256.24
Unique Buyers: 60,037
Unique Sellers: 49,230
Total Volume and Sales:
So, at the start of the week on 15th August, we saw the lowest total sales which were 34K. And on 20th August, we saw the highest number of sales, 41K. This metric showed an overall increase.
At the start of the week on 15th August, we saw the highest volume which was 33.3M$. And on 18th August we saw the lowest of this metric which was 23.7M$. This metric showed an overall decrease.
Active Market Wallets:
The metric showed an overall increase, although no major changes are observed. The lowest daily data was recorded on 15th August, which was 20K. The highest daily data was recorded on 19th August, which was 22.8K.
Unique Buyers and Unique Sellers:
The number of unique buyers showed an overall increase throughout the week. There were slight fluctuations and no major changes in data. The lowest daily data was recorded on 15th August which was 12.5K. On the other hand, the highest daily data recorded was 21st August which was 14.3K.
There was an overall increase in the data similar to that of the metric, unique buyers, as there were no major fluctuations in data. The lowest daily data was recorded on 15th August, which was 10.8K. Whereas, the highest daily data was recorded on 19th August, which was 12.2K.
Primary Sales and Volume:
The Primary Sales metric showed an overall increase throughout the week. However, the data showed a dump in between but continued to increase after that. The lowest daily data for this metric was almost 7.5K, which was recorded on 15th August. Whereas, the highest daily data was recorded on 21st August which was 17.3K.
The Volume for Primary Sales decreased throughout the week. However, the data showed fluctuations throughout the week. The highest daily data was recorded on 15th August which was 1.2M$. On the other hand, the lowest daily data was recorded on 21st August which was 828K.
Secondary Sales and Volume:
There was an overall decrease in the number of secondary sales. In the middle of the week, there was a pump in the data but the metric showed a decrease as the week passed. The lowest daily data was recorded on 21st August which was 23K. Whereas, the highest daily data was recorded on Friday which was 29.9K.
The Volume of Secondary Sales showed an overall decrease in data. Although the data fluctuated in between, it continued to decrease as the week passed. The highest daily data was recorded on 15th August, which was 32M$. On the other hand, the lowest daily data was recorded on 18th August, which was 22.8M$.
Average Price of an NFT:
The highest average price of an NFT was recorded on 15th August, which was 974$. And on 19th August we saw the lowest of this metric which was 621$. This metric showed an overall decrease.
Conclusion:
If we compare the metrics' data for this week, with the data for the previous week, it can be noticed that the activities in the market have increased this week. Let it be primary sales or secondary sales, both have shown an increase in their data.
However, in terms of volume, this week was not good relative to the previous week. The volume for both, primary and secondary sales, showed a decrease.
If we talk about the average price of an NFT, we have seen a major decrease. The data for this metric has shown a major decrease over the past two weeks.
The volume getting lower and the average price of an NFT decreasing is not a positive sign for the market. This shows that currently, we are moving further towards a bearish market.
The information above does not constitute investment advice, and the author does not ask you to either buy or sell any of the assets mentioned in the article.