NFT Market Faces Challenges Amid Crypto Rally
The crypto market is on an upward trend, but the NFT sector is lagging. Sales volume has dipped by 6.15%, landing at $89.4 million. Despite this, Bitcoin (BTC) is trading above $94,000, and Ethereum (ETH) is just under $1,800, up 0.4%. The global crypto market cap now stands at $2.97 trillion, a significant jump from last week’s $2.69 trillion.
According to cryptoslam, the number of NFT buyers has surged by 54.33% to 391,498. Sellers have also increased by 45.06% to 223,311. However, NFT transactions have fallen by 10.25% to 1,404,451.
Ethereum remains the top blockchain for NFT sales, with $25.1 million,a 22.07% rise from the previous week. Mythos Chain has moved to second place with $15.1 million in sales, while Bitcoin has slipped to third with $14.7 million, down 14.18%.
- Polygon’s sales have dropped by 53.63% to $9.9 million.
- Solana has seen a 40.70% increase to $9.2 million.
DMarket has reclaimed the top spot in collection rankings with $9.9 million in sales. CryptoPunks has made a surprising comeback to third place, with a 106.19% increase in sales to $3.6 million. Notable sales include an Ordinals NFT for 6 BTC ($558,754) and CryptoPunks #741 for 317 ETH ($500,944).
For more details, visit CryptoSlam.
