NFT Market Sees Decline, But Activity Rises
The NFT market has seen a drop, with sales volume falling by 16.76% to $105.7 million. This decline comes as Bitcoin (BTC) prices have dipped to $103,000 after reaching a new all-time high of $111,000. Ethereum (ETH) has also seen a slight decrease to the $2,500 level over the past week. The global crypto market cap is now $3.25 trillion, down from $3.42 trillion last week.
Despite the overall decline, NFT activity has increased. According to CryptoSlam, the number of NFT buyers has risen by 55.35% to 699,471, and sellers have increased by 19.22% to 242,898. NFT transactions have surged by 34.31% to 2,233,547.
Ethereum has strengthened its position with $36.5 million in sales,a 28.43% increase from the previous week. However, Ethereum’s wash trading has decreased by 23.31% to $1.6 million.
Polygon (POL) remains in second place with $15 million in sales, though it has experienced a 25.88% decline. Mythos Chain holds the third position with $13.5 million, down 3.39%. Bitcoin sits in fourth place with $13.2 million, a 27.10% drop from last week.
Immutable (IMX) has entered the top five with $7.3 million, down 15.93%. Solana (SOL) rounds out the top six with $7.2 million, showing growth of 17.78%. The buyer count has increased across moast blockchains, with Polygon leading at 43.72% growth, followed by Solana at 37.39% and Bitcoin at 33.34%.
Courtyard on Polygon retains the top position in collection rankings with $12.4 million in sales, though it saw a 13.91% decrease.A notable newcomer, STRAT Option on Ethereum, has entered the fourth-place rankings with $4.7 million in sales.The collection has seen significant growth of 18,945,794.34% in sales, with transactions up 2,300% and buyers up 1,900%.
Notable high-value sales this week include CryptoPunks #1831, sold for 150 ETH ($389,846), and CryptoPunks #4868, sold for 76.5 ETH ($201,933).
