NFT Market Sees Uptick in Sales Volume Despite Crypto Price Weakness

The NFT market has shown resilience in the face of declining cryptocurrency prices, with Bitcoin falling 3% to $94,000 and Ethereum experiencing a sharp 9% drop to $3,200.

Despite the broader crypto market cap contracting to $3.3 trillion from last week’s $3.5 trillion market cap, the NFT market has managed to turn positive, with NFT sales volume climbing 10.70% to $155.4 million this week.

Weekly NFT Market Metrics

The weekly metrics paint a picture of a market with increasing sales volume, but dwindling participation. Key statistics include:

  • NFT sales volume rose to $155.4 million from $132.7 million last week
  • NFT buyers fell 81.79% to 122,806
  • NFT sellers dropped 73.24% to 104,090
  • Transactions inched up 0.16% to 1,483,044

Blockchain Network Performance

Blockchain networks have shown mixed results, with some experiencing growth in NFT sales, while others have seen declines. Notable performers include:

  • Ethereum NFT sales grew 13.09% to $61.9 million, despite a 65.62% drop in buyer numbers to 24,836
  • Bitcoin NFTs saw modest growth, with sales up 1.97% to $30.8 million, and a buyer count that dropped 87.15% to 8,665
  • Solana moved up with $20.1 million in sales, rising 9.96%
  • Mythos Chain held fourth place with $12.4 million, up 4.39%
  • Base entered the top five with $8.4 million, jumping 211.18% in sales

NFT Collection Rankings

Popular NFT collections have seen varying degrees of success, with some experiencing significant growth, while others have declined. Notable collections include:

  • Pudgy Penguins enjoyed $9.2 million in sales, up 82.32%
  • BRC-20 NFTs took second place with $8.2 million, growing 40.78%
  • DMarket kept steady in third with $7.2 million, up 8.06%
  • Guild of Guardians Heroes fell 11.17% to $5.1 million
  • Azuki dropped to fifth place with $4.0 million, down 56.58%

Top NFT Sales

The top NFT sales of the week include:

  • SuperRare #37380: $474,710 (474,710 USDC)
  • CryptoPunks #4757: $453,894 (125 ETH)
  • SuperRare #37380: $396,000 (108.7469 WETH)
  • CryptoPunks #3698: $277,876 (82 ETH)
  • Abstract Being: $222,680 (2.3681 BTC)

The NFT market has found some stability with rising sales volume, even as participation stays limited.

Stay up-to-date with the latest news and trends in the world of cryptocurrency and NFTs on Global Crypto News.

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