The indexes are proxy measures of the performance of the global NFT market.They are run by CryptoSlam, a subsidiary of Forkast.News that falls under the Forkast.Labs brand.
The Forkast 500 NFT index fell 0.13% to 3,378.53 points in the non-fungible token (NFT) market in the 24 hours leading up to 7:30 a.m. in Hong Kong, down 2.32% for the entire week.
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This, said CryptoSlam NFT analyst Yehudah Petscher, can again be attributed to “low volume and high transacting fees from crypto trading.” On Ethereum, the most popular blockchain for NFTs, 24-hour NFT sales increased 2.16% to US$18.6 million. Sales on the Bitcoin blockchain took second place on Cryptoslam’s blockchain ranking by gaining 32.11% to US$4.6 million.
“Bitcoin NFTs are just getting started and in the long run, I expect Bitcoin to compete head-to-head with Ethereum’s all-time sales. It may actually exceed them too,”
The Bored Ape Yacht Club NFT collection saw the most sales during the past 24 hours. To $2.48 million USD, it increased 8%. According to Cryptoslam, the 24 highest individual NFT sales in the previous day were all Bored Ape Yacht Club NFTs.