🌎 NFT Market Sees 29.45% Decline in Sales Volume

NFT Market Sees Decline in Sales Volume Amid Broader Crypto Weakness

The NFT market has experienced a decline in sales volume, mirroring the broader crypto market’s weakness. As of the latest data, the overall crypto market cap has slipped to $3.5 trillion from last week’s $3.58 trillion. Bitcoin and Ethereum have also seen significant drops, with Bitcoin falling to $101,000 and Ethereum dropping to $3,200.

NFT Sales Volume Falls 29.45%

According to recent data, NFT sales volume has fallen 29.45% to $138 million this week. Despite this decline, market participation has grown, with more traders entering the space. The weekly metrics reveal a mixed story:

NFT sales volume fell to $137.9 million from $198.1 million
NFT buyers rose 31.92% to 589,960
NFT sellers increased 33.23% to 425,135
Transactions declined 4.35% to 1,412,615

Platform-Specific NFT Sales

Ethereum NFT sales dropped 40.35% to $67.9 million, though buyer numbers grew 20.59% to 58,632. Wash trading fell 57.40% to $28.8 million. Bitcoin NFTs saw a 32.45% decline to $17.4 million, while buyer participation rose 35.12% to 46,714.

Mythos Chain jumped to third place with $13.6 million, rising 4.13%. Solana fell to fourth with $12.4 million, down 39.21%. Polygon entered the top five with $8.1 million, posting an 85.18% increase.

NFT Collections Show Mixed Results

Pudgy Penguins took the lead with $13.9 million in sales, up 38.49%. Their surge brought more activity, with transactions rising 106.21% and buyers up 20.80%. DMarket held second place with $8.5 million, growing 7.30% and maintaining high volume with 307,776 transactions.

Azuki dropped to third with $7.3 million, falling 74.73%. Courtyard, a new entrant on Polygon, claimed fourth place with $7.2 million, surging 155.57%. CryptoPunks rounded out the top five with $5.7 million, down 31.19%.