🌎 NFT Market Sees Growing Participation Amid Cooling Sales

NFT Market Sees Growing Participation Despite Cooling Sales

The overall crypto market cap has grown to $3.6 trillion, a 5.58% increase from last week’s $3.42 trillion. However, this growth has not translated to the NFT market, which has seen a significant decline in sales. According to CryptoSlam data, NFT sales have fallen 17.54% to $132.7 million this week, lower than last week’s $152 million in sales.

Mixed Signals in NFT Market Activity

Despite the decline in sales, the market has seen greater participation from traders, pointing to sustained interest at lower price levels. Key statistics from the NFT market include:

NFT sales volume dropped to $132.7 million from last week’s $152.7 million
The number of NFT buyers rose 25.54% to 667,116
NFT sellers increased 23.96% to 382,754
Total transactions fell 16.96% to 1,326,111

Blockchain Network Performance

Major blockchain networks have seen mixed results in NFT sales. Ethereum NFT sales fell 25.72% to $56 million, despite a 14.35% increase in buyer numbers to 72,241. On the other hand, Bitcoin NFTs moved against the trend, with sales rising 8.38% to $30.3 million and attracting 67,423 buyers, a 13.68% increase from the previous week.

Mythos Chain climbed to third place with $11.8 million in sales, growing 3.63%. Solana dropped to fourth position with sales falling 57.91% to $9.4 million, despite having the highest buyer count at 234,220. Immutable rounded out the top five with $8.2 million in sales, up 2.67% with 18,350 buyers.

NFT Collection Rankings

Collection rankings show major shifts, with Azuki taking the top spot with $9.4 million in sales, growing 3.13% despite lower buyer numbers. DMarket follows with $6.7 million in sales, showing 7.72% growth and maintaining high transaction volume with 240,918 trades.

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