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Despite the Drop in Crypto Prices, Weekly NFT Sales Reach $4.7 Billion, Increasing 81%

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While crypto markets shed billions during the last seven days, non-fungible token asset sales are still up 81% since last week. Statistics indicate $4.7 billion in NFT sales were settled in seven days among 326,733 buyers, and Ethereum saw a continued rise in NFT sales volume.

NFT Sales Remain Strong Despite Crypto Market Price Reversal

Bitcoin, ethereum, and a myriad of digital assets have seen deep losses this week in terms of spot market value against the U.S. dollar and other fiat currencies. Despite the crypto market carnage, NFT sales continue to boom with $4.7 billion in sales since last week.

The week prior, NFT sales across roughly ten blockchain networks amounted to $2.5 billion in global sales. NFT sales volume over the last seven days has increased 81.4%, according to cryptoslam.io statistics.

Out of the ten blockchains recorded, Ethereum sales jumped 84.04% this week while Ronin NFT sales increased by 29.99%. The third and fourth largest blockchains in terms of NFT sales, Solana and Flow, have seen sales drop this past week.

Solana NFT sales are down 10.26% and Flow NFT sales have decreased by 13.17%. However, the biggest drop in NFT sales was Polygon’s 23.57% drop this past week. Theta saw a drop in sales this week but only lost 4.56%. Binance Smart Chain (BSC) saw the largest increase in seven-day sales with a 279.67% increase.

Meebits and Terraforms Reign, Older NFT Projects Drop Down the Weekly Sales Ladder

Last week, the NFT collection Meebits was the top contender in terms of NFT sales and still is this week. During the last seven days, Meebits has recorded $1.9 billion in sales, up 104.40% since this time last week.

Terraforms saw $1.2 billion in sales last week up more than 298%, and Loot recorded $468 million up 79% since last week. Cryptophunks V2 sales are up 88% this week and Azuki NFT sales increased over 141%. Collections that were once top contenders in terms of NFT sales like Bored Ape Yacht Club (BAYC) have seen sales slip. BAYC sales are down more than 34% during the last seven days.

Mutant Ape Yacht Club (MAYC) sales are up more than 4% but the MAYC collection has slid to the tenth largest NFT compilation after being a top five contender. Furthermore, The Sandbox NFT sales have decreased by over 31% after the metaverse project’s significant rise two weeks ago.

Overall, NFT markets and sales have managed to stave off the crypto market carnage that crypto assets have been experiencing in recent times. Those funds, while lower in value, are still purchasing NFTs in great numbers and the billion-dollar NFT industry remains profitable.

What do you think about the last seven days of NFT sales and the fact that they’re still up despite cryptocurrency markets losing lots of value? Let us know what you think about this subject in the comments section below.

Bitcoin, Ethereum, Monero Hashrates Tap Lifetime Highs — Dash, ETC, LTC Hashpower Lower Than Prior ATHs

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Bitcoin, Ethereum, Monero Hashrates Tap Lifetime Highs — Dash, ETC, LTC Hashpower Lower Than Prior ATHs

During the first month of 2022, both Bitcoin and Ethereum’s hashrates have climbed to all-time highs (ATHs). While Bitcoin’s hashpower surged to over 200 exahash per second (EH/s), Ethereum’s hashpower jumped to over 1 petahash per second (PH/s). A few mineable digital asset networks, however, saw their hashrates decline since their ATHs and the processing power behind these protocols hasn’t returned back to the highs captured long ago.

While Some Hashrates Skyrocket, Processing Power From Other Crypto Networks Remains Lackluster

At the time of writing, Bitcoin’s processing power is coasting along above the 200 exahash per second (EH/s) zone, after touching the ATH it captured on January 15. Six-month hashrate statistics indicate that on Sunday, January 16, 2022, BTC’s hashrate tapped a daily high of 216.50 EH/s.

The top three mining pools on Monday, January 17, include F2pool, Foundry USA, and Antpool, respectively. All three pools have more than 15% of the global hashrate or 29 EH/s of hashpower.

Six-month and all-time metrics also show that Monero’s network hashrate is coasting along at all-time high records as well, with about 3.49 gigahash per second (GH/s) at press time.

In close to four days’ time, Bitcoin’s network difficulty is expected to increase 6.24% which will bring the network difficulty to an all-time high. The estimated difficulty after the next epoch change will be around 25.89 trillion, according to data at the time of writing.

Ethereum’s network hashrate is also managing to hold the 1 PH/s range after first tapping this goal in December 2021. The top mining pool on the Ethereum network is ethermine.org with 295 terahash per second of hashrate, and the percentage of ETH hashrate on Nicehash is 3.66%.

While networks like Bitcoin, Ethereum, and Monero have seen all-time highs, networks like Litecoin have not seen new hashrate ATHs in recent times. LTC’s network hashrate on Sunday is 368.96 TH/s, but during the first week of July 2019, LTC’s hashrate tapped an ATH at 468.50 TH/s.

Today, Dash has a hashrate of around 5.24 PH/s, but in September 2020 it hit 7.14 PH/s. In total, that’s a 26.61% decrease in the network’s hashpower in 16 months.

The Ethereum Classic network has an overall hashrate of 20.37 TH/s on January 17, which is lower than the network’s ATH in June 2021 at over 23 TH/s.

What do you think about Bitcoin, Ethereum, and Monero’s recent hashrate highs? What do you think about the networks that have not returned to ATHs reached months ago? Let us know what you think about this subject in the comments section below.

$2.5 Billion in NFT Sales This Week, Volume Climbs 161%, Meebits NFT Sales Surge

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$2.5 Billion in NFT Sales This Week, Volume Climbs 161%, Meebits NFT Sales Surge

During the last seven days, there’s been $2.53 billion non-fungible token (NFT) sales, up 161% over the past week. Ethereum’s blockchain recorded the most NFT sales with $2.45 billion of the aggregate while the Solana network saw around $31.9 million in NFT sales this week. Across 258,536 NFT buyers this week, the NFT collection Meebits captured $1.23 billion in NFT sales.

With $2.5 Billion in NFT Sales Across 10 Chains, Ethereum NFT Sales Dominate by More Than 96%

A great number of non-fungible token sales continue, as the recorded sales across the top 10 blockchains with NFT compatibility amounted to $2.53 billion in NFT sales.

The metric is up 161% during the course of the week, but Ethereum’s NFT sales represent the lion’s share. NFTs stemming from Ethereum captured $2.45 billion and sales on the Ethereum blockchain are up 184% according to cryptoslam.io’s data on Sunday.

Out of this week’s top ten blockchain networks, Theta saw an increase in seven-day sales by 490.39%. Sales on the Wax blockchain increased by 17.10% and Flow blockchain sales jumped by 1.04% this past week.

$2.5 Billion in NFT Sales This Week, Volume Climbs 161%, Meebits NFT Sales Surge

The biggest sale this week, in terms of the most expensive NFT sold in seven days, was Meebit #13824 when it sold for 15,000 ETH or $50.61 million four days ago. Meebit #9711 sold for a touch less than #13824 at 14,730 ether or $49.25 million at the time of settlement.

Meebits has seen a 31,948.20% seven-day increase in sales and the collection is the top NFT compilation in terms of this week’s sales. The Meebits collection saw 574 buyers amid 2,199 transactions spend $1.23 billion in sales.

The week’s second most sold collection is the NFT project Loot as it has seen $281 million in weekly sales according to cryptoslam.io metrics. Loot is followed by Cryptophunks V2 as that NFT project saw $142 million in sales.

While Opensea Nears $15 Billion, Axie Infinity Nears $4 Billion in All-Time NFT Sales Volume

As Bitcoin.com News reported earlier this week, there’s been an influx of traders leveraging the new NFT marketplace Looksrare. The Looksrare NFT market has outpaced Opensea’s seven-day sales statistics with $444.55 million.

Opensea has seen $120.55 million in sales this week, down 32.58% from the week prior. Solana’s Magic Eden was the third-largest marketplace this week with $7.68 million in sales, according to dappradar.com stats.

Meanwhile, two NFT projects are about to reach new milestones in terms of all-time NFT sales volume. The NFT marketplace Opensea, which supports Ethereum and Polygon blockchains, is nearing $15 billion in total sales with $14.68 billion today.

Axie Infinity is getting close to topping $4 billion in total sales, as the NFT project has accrued $3.94 billion so far. Furthermore, Flow’s NBA Top Shot is getting close to $1 billion in volume with $776.49 million total and Solana’s Magic Eden is also nearing the $1 billion mark with $615.05 million in all-time sales.

What do you think about this week’s non-fungible token sales and statistics? Let us know what you think about this subject in the comments section below.

$2.7 Billion in NFT Sales Recorded Last Month — Ethereum, Ronin, Solana Top 3 NFT Networks

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This week Google Trends shows that the acronym NFT, which stands for non-fungible token, has reached a score of 100, the highest score a search query can get from the data analytics aggregator. Meanwhile, statistics indicate that during the last 30 days across ten different blockchains, there’s been $2.73 billion in NFT sales.

NFT Monthly Volume Sees Close to $3 Billion in Sales — Axie Infinity, Clonex, MAYC Sales Reign

While the crypto economy has seen a downturn, it’s too early to say whether or not it’s affecting NFT sales. However, monthly statistics show that across ten different blockchain networks including Ethereum, Ronin, Solana, Flow, Polygon, and more, there’s been $2.73 billion in NFT sales.

The collection with the most sales stemmed from the Ronin chain or the Axie Infinity blockchain video game NFT compilation. Over the last 30 days, metrics indicate Axie Infinity saw $219.5 million in sales. Month-over-month, Axie Infinity sales are down 66.51%.

The NFT collection Clonex pulled down $212 million over the last month according to cryptoslam.io metrics and Mutant Ape Yacht Club (MAYC) did $209.1 million in sales. MAYC was followed by Bored Ape Yacht Club (BAYC) with $196.2 million in 30-day sales.

The BAYC collection is followed by Cryptopunks ($144M), The Sandbox ($90M), Doodles ($85M), Prime Ape Planet ($76.4M), RTFKT Clonex Mintvial ($66M), and Adidas Originals ($60.2M).

Ethereum NFT Sales Rule the Roost, Cryptopunk #4156 Sells for $10.2 Million

Out of the top 20 NFT collections in terms of sales, the biggest gainers include the Solana NFT collection Shadowy Super Coder, up 170.46% this month, Bored Ape Chemistry Club, up 212.60%, and ​​Bored Ape Kennel Club, up 159.19%.

Notable collections during the last 30 days in the top 20 include Doodles (+72.50%), RTFKT Clonex Mintvial (+72.83%), and NBA Top Shot (+87.85%). The NFT collection Wolf Game lost 81.02%, Farmers World shed 89.51%, and Neo Tokyo Identities lost 53.05% this past month.

The top blockchain in terms of NFT sales this month is Ethereum (ETH) with $2.3 billion in sales. ETH is followed by Ronin, with $219 million in sales, and Solana captured $109 million in sales this past month.

ETH sales increased 34.41% and Flow sales spiked 87.33%, while the blockchain Polygon’s NFT sales jumped 98.93%. While Ronin sales are down 66.51%, cryptoslam.io stats indicate Solana sales are down 10.31%, Wax blockchain sales slipped 85.07%, and Theta chain NFT sales are down 90.31%.

The most expensive sale this month was Cryptopunk #4156 for $10.2 million and three Mega NFTs sold for between $3.6 million and $5.6 million in ether. Cryptopunk #2681 sold for $3.07 million and Meka #2194 went for $1.8 million this month. The Meka NFT was followed by BAYC #3562 for $1.6 million, Cryptopunk #9953 for $1.57 million, and Cryptopunk #2964 for $1.5 million.

What do you think about the NFT sales during the last 30 days? Let us know what you think about this subject in the comments section below.

Chainalysis to Offer Lightning Network Monitoring Service to VASPs in 2022

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Chainalysis to Offer Lightning Network Monitoring Service to VASPs in 2022

On December 10, the blockchain intelligence firm Chainalysis revealed that the company has added support for Bitcoin’s second-layer protocol the Lightning Network (LN). According to Chainalysis, firms like exchanges and virtual asset service providers (VASPs) can leverage the company’s Know-Your-Transaction (KYT) real-time transaction monitoring software in order to access compliant bitcoin deposits and withdrawals from a LN node.

Compliant Lightning Transactions

The blockchain surveillance and intelligence company, Chainalysis, announced on Friday that the company has added Lightning Network (LN) support to its list of blockchain and crypto-asset networks, the company currently monitors. For years, Chainalysis has monitored the Bitcoin (BTC) blockchain, and these days the firm is not only monitoring BTC, but also a myriad of crypto networks and decentralized finance (defi) protocols.

Essentially, the LN is an offchain routed “layer 2” (L2) payment channel network that helps facilitate bitcoin (BTC) transfers faster and cheaper than onchain transactions. The Chainalysis LN support will provide VASPs with “Chainalysis KYT (Know-Your-Transaction) for real-time transaction monitoring will now be able to compliantly allow deposits and withdrawals of Bitcoin from a Lightning node.”

As of December 1, 2021, Chainalysis estimates there is “just under 3,600 BTC worth over $205 million is locked in public Lightning Network channels.” This has increased a great deal since the total value locked in the LN was around 468 BTC on January 1, 2021. Chainalysis also mentions that the LN L2 system is leveraged by countries such as El Salvador and large corporations like Twitter. Pratima Arora, the chief product officer at Chainalysis explains that the firm hopes compliant LN transfers will help the LN mature.

“Chainalysis exists to build trust in cryptocurrency in order to promote more financial freedom with less risk,” Arora said in a statement. “The Lightning Network solves many of the challenges that prevent the Bitcoin protocol from being used for micropayments and other transaction types that bolster financial inclusion. By enabling our customers to compliantly support Lightning transactions, we hope to grow the network’s popularity and help it scale.”

Lightning Network Support for Chainalysis KYT Customers to Launch in February

Chainalysis has expanded its resources a great deal and faces dozens of blockchain intelligence and monitoring competitors. The company raised $100 million at the end of June in its Series E funding round and the previous C and D rounds also saw $100 million capital injections. The company’s post valuation, after the Series E, was $4.2 billion according to the firm’s announcement at the time.

Speaking about the LN support, Chainalysis claims that for the first time, “VASPs can now offer support for Lightning transactions aligned with global regulatory best practices.” The product Chainalysis offers called Chainalysis KYT supports “pre-screening for Lightning withdrawals and behavioral alerts.” The blockchain surveillance and intelligence company further says that the LN support will be available for Chainalysis KYT customers in February.

What do you think about Chainalysis adding Lightning Network support? Let us know what you think about this subject in the comments section below.