NFT Weekly Market Update 01-07 August 2022

Weekly Data Recorded:

  • Number of sales: 206,988
  • Sales USD: 251,203,432.89$
  • Average USD (Average price of an NFT): 1,213.70$
  • Active Market wallets: 81,601
  • Primary Sales: 79,504
  • Primary Sales USD: 20,883,188.65$
  • Secondary Sales: 127,484
  • Secondary Sales USD: 230,320,244.24$
  • Unique Buyers: 54,744
  • Unique Sellers: 41,122

Total Volume and Sales:

At the beginning of the week, we can see both the metrics facing a decrease in
their data, reaching the lowest of the week on 2nd August. The lowest number of
sales was 20.6K, while for the volume, it was 31.3M$. After 2nd August, we can
see the number of sales increasing while the volume did not show a noticeable
increase.

Total Volume And Sales
Total Volume and Sales

On 5th August, there was a huge increase in the volume. The volume was 43M$
which was the highest daily volume of the week. Simultaneously, on the same
date, the number of sales reached its highest daily volume of the week, 29.8K. After that, the volume decreased and reached the same zone whereas the number of sales decreased gradually.

Total Volume And Sales
Total Volume and Sales

Active Market Wallets:

The data for active market wallets decrease at the beginning of the week, reaching its lowest, 13.4K. After that, it increased and remained around 18K for a few days. The highest data was recorded on Wednesday, 18.2K. Finally, near the end of the week, the data started decreasing.

Active Market Wallets
Active Market Wallets

Unique Buyers and Unique Sellers:

As we previously discussed, active market wallets decreased at the beginning of the week. So, the same happened with these two metrics; they decreased and reached their lowest on 2nd August. The lowest for the number of buyers was 8.2K, while for the number of sellers, the lowest was 6.7K.

Nft Weekly Market Update 01-07 August 2022

The number of buyers reached its highest data on 3rd August; it was 11.5K, while the highest data for the number of sellers was recorded on 4th August, it was 9K.

Number Of Buyers
Number of Buyers

Primary Sales and Volume:

These metrics also followed the pattern of other metrics at the beginning of the week. The lowest data for these metrics were recorded on 2nd August. For the number of primary sales, the lowest data was 6.6K, while for the volume of these sales, the lowest data was 654K$.

Primary Sales And Volume
Primary Sales and Volume

Moving forward, the number of primary sales shows a huge pump; after decreasing a bit, there was another pump. Therefore, on 6th August, the highest daily data for the week was recorded, which was 12.7K. As for the primary sales volume, there was a huge pump jumping 7x of the data on 5th August. Therefore, on 5th August, the highest primary sales volume was recorded, 8.5M$. After the pump, the data for the primary sales volume returned to the previous zone.

Nft Weekly Market Update 01-07 August 2022
Nft Weekly Market Update 01-07 August 2022

Secondary Sales and Volume:

If we look at the number of secondary sales, it decreased at the beginning of the week and reached its lowest of the week, 13.9K, on 2nd August. After that, it increased gradually till 5th August and reached its highest data of the week, 19.4K. Near the end of the week, the data started showing a decrease.

Nft Weekly Market Update 01-07 August 2022
Nft Weekly Market Update 01-07 August 2022

Moving on to the secondary sales volume, it also decreased at the beginning reaching its lowest value of the week, 30.3M$, on 4th August. A pump can be seen the next day, taking the data to 34.5M$, which was also the weekly’s highest daily secondary sales volume. Reaching the end of the week, the data showed a decrease.

Secondary Sales And Volume
Secondary Sales and Volume

Average Price of an NFT:

The data for this metric showed multiple fluctuations. The highest data for this metric was recorded on 2nd August, which was 1.5K$. The lowest data was recorded on 4th August, around 1K$.

Average Price Of An Nft
Average Price of an NFT

Conclusion:

Overall, the NFT market has performed better this week compared to the previous week. Although, at the start of the week, the data looked weak but recovered as the days passed. We have seen quite a large pump in the primary sales volume serving as hope for new projects launching in the market. The pump in primary sales and its volume show that the NFT market is not dead, and people will still dive into the market with their money if they see something worthy of it.

The secondary sales and volume also showed a pump in the data, which shows that people also developed an interest in the secondary markets. The primary and secondary sales volume collectively led to an increase in the market’s total volume. This serves as a positive sign for the health of the market.

The number of buyers and sellers active in the market also increased this week, corresponding to interest in the market. Apart from this, the average price of an NFT, as we saw, showed multiple fluctuations, but no major change was noticed.

Editorial Team
Editorial Team

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