The total sales of non-fungible tokens (NFTs) amounted to $3.97 billion, with an additional $82 million from wash sales. However, monthly NFT sales volume experienced a significant decline of 54% from April to May, according to CryptoSlam.
Despite this decline, Bitcoin-based digital collectibles achieved a new milestone. The sales volume of NFTs on the Bitcoin blockchain reached an all-time high of over $4 billion, as reported by NFT data tracker CryptoSlam on June 4th. This total includes the $3.97 billion in NFT sales and $82 million in wash sales.
Among blockchain-based NFTs, Bitcoin-based NFTs had the highest sales volume in the last 30 days, totaling $171 million. Ethereum followed closely with $159 million, and Solana ranked third with $90 million.
Despite leading in 30-day volumes, Bitcoin-based NFTs only rank as the fourth-largest blockchain in terms of sales. The Ronin blockchain takes third place with $4.2 billion in all-time sales. Solana-based NFTs hold second place with a record-breaking $5.5 billion in sales. The Ethereum network continues to dominate the market with an astonishing $43.8 billion in recorded sales.
May saw a decline in sales volumes across all NFTs. Monthly NFT sales volume dropped by 54% from April to May, with sales reaching $1 billion in April and $624 million in May. Similarly, NFTs based on Bitcoin experienced a 68% decline in sales during May, according to the data.
Notably, Bitcoin NFTs not only set a new sales record but also witnessed a record high in transaction value. On May 28, the estimated value of Bitcoin transactions reached nearly $25 billion, marking the highest level in the past year.
In other crypto news, the price of Ethereum (ETH) is struggling to break the resistance at $3.7K.