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The cryptocurrency market has shown signs of recovery, yet the NFT market sales volume experienced a 4.7% dip, totaling $95.9 million during the same period.

Crypto Market Overview

Bitcoin has rebounded, reaching the $85,000 mark, while Ethereum has seen a modest 2.4% recovery over the last seven days, currently trading at $1,600. The overall global crypto market cap has increased to $2.69 trillion, up from $2.63 trillion last week.

NFT Market Trends

Despite the decline in sales volume, market participation has surged significantly. The number of NFT buyers rose by 96.6% to 252,354, while NFT sellers increased by 79.2% to 153,892. Additionally, NFT transactions climbed by 10.4%, reaching 1,569,670 during the same timeframe.

Ethereum Maintains Leadership

The Ethereum blockchain continues to dominate as the leading platform for NFT sales, although its sales volume dropped by 38.7% to $21.6 million. Ethereum’s wash trading also saw a decline, falling by 23% to $2.1 million.

Other Blockchains Gaining Ground

Polygon solidified its second-place position with $21.1 million in sales, a 21.5% increase from the previous week. Bitcoin rose to third place, recording $17.2 million in sales, marking a notable 42.2% growth. Meanwhile, Mythos Chain secured fourth place with $14.9 million in sales, up 5.4%, and Solana rounded out the top five with $6.8 million, a 7% improvement.

The buyer count increased across all major blockchains, with Solana showing the largest growth at 133.7%, followed by Bitcoin at 128.9%, and Polygon at 125%.

Collection Rankings and Performance

Top Performers

On the collection front, Courtyard on Polygon retained its top position with $19.5 million in sales, a 24.6% increase from last week. DMarket secured second place with $9.7 million, up 8.8%. Guild of Guardians Heroes climbed to third with $3.8 million in sales, reflecting a 3.6% rise. Bitcoin’s BRC-20 NFTs followed closely, recording $3.6 million in sales, up by 42.1%.

CryptoPunks Sales Collapse

One of the most iconic NFT collections, CryptoPunks, fell to sixth place with just $1.7 million in sales—an 80.5% drop from the previous week’s $9.1 million. This decline extended to transactions, which fell by 51.2%, as well as buyers and sellers, which dropped by 56.6% and 59.4%, respectively.

Despite the slump, individual sales from CryptoPunks still dominated the top NFT transactions. Four of the five highest-priced NFT sales were from this collection. Notably, SuperRare #10093 claimed the top spot, selling for 255 ETH ($419,772).

Notable High-Value Sales

  • CryptoPunks #3873: Sold for 165 ETH ($259,514)
  • CryptoPunks #1820: Sold for 72.69 ETH ($118,299)
  • CryptoPunks #1999: Sold for 65 ETH ($103,110)
  • CryptoPunks #7163: Sold for 62.5 ETH ($99,167)

While the NFT market faces fluctuating trends, the growing buyer and seller activity suggests continued interest in this space. Both investors and enthusiasts should monitor the evolving dynamics closely to identify potential opportunities.

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