Following the conclusion of the 2022 NBA Draft, fans of the sport and collectors have filled their NFT bags with picks from the NBA Top Shot collection in the last 24 hours.
Launched in July 2020, the project saw most of its gains during the NFT craze of 2021. According to data from CryptoSlam, the collection has recorded sales worth $1,011,895,237.38 since its launch.
With a 901.95% spike in sales volume in the last 24 hours, the NBA Top Shot collection ranked number #7 on CryptoSlam’s list of NFT collection rankings by sales volume. So what exactly happened in the last 24 hours?
According to data from Cryptoslam, the sales volume for NBA Top collection saw a 901% growth in the last 24 hours. At press time, the sales stood at a total of $1,253,456.
In the last 24 hours, data from CryptoSlam showed that over 50,000 transactions were executed, with nearly 5,000 new buyers snatching up a piece from the NBA Top Shot collection.
Taking a closer look at the performance of this project in 2022, it can be found that sales volume embarked on a steady decline in January. It registered $59,020,026 as the value of total sales logged. The sales recorded by the project in May stood at $13,931,450, representing a 76% drop in the last five months. This price decline can be attributed to the general fall in sales in the NFTs market occasioned by the downturn in the cryptocurrency market.
June 2022 has so far witnessed a sale of $6,634,963.