The NFT market has persisted in its declining trajectory even with slight recoveries in cryptocurrency prices, as Bitcoin edges up to $84,000 and Ethereum remains stable at $1,900.
The total market capitalization of cryptocurrencies has increased to $2.77 trillion, compared to $2.73 trillion last week.
Data indicates that the volume of NFT sales has dropped to $100.9 million, reflecting a 5.34% decrease from the previous week. Despite this downturn in sales, metrics regarding market participation indicate robust growth in the number of both buyers and sellers.
The weekly figures show:
- NFT sales volume declined to $100.9 million from $99.1 million
- The number of NFT buyers surged 70.97% to 350,146
- NFT sellers grew by 68.57% to 225,465
- NFT transactions rose 16.90% to 1,696,996
Bitcoin NFT sales hit hardest
Ethereum (ETH) NFT sales continue to encounter challenges, having decreased by 13.03% to $27.7 million. Nevertheless, the number of buyers increased by 42.17% to reach 44,850. Additionally, wash trading saw a drop of 6.53% to $2.8 million.
Bitcoin (BTC), on the other hand, experienced a sharper decline of 30.69%, landing at $16.3 million, yet it still holds the second position overall. Buyer participation for BTC shot up by 63.67% to 31,251.
In contrast, Mythos Chain recorded a modest increase of 3.12%, reaching $15.6 million to secure third place. Polygon (POL) saw a decrease of 5.81%, landing at $13.3 million in fourth place, while Solana (SOL) experienced a 5.25% drop to $9.4 million, completing the top five.
CryptoPunks falls to sixth position
Courtyard remained at the top with $11.5 million in sales, though this represented a decline of 6.95%. The Polygon project also saw a 4.76% increase in transaction volume, totaling 100,285.
DMarket moved up to second place with $10.4 million, marking a rise of 4.44% and maintaining strong activity with 333,211 transactions. Guild of Guardians Heroes remained in third with $5.6 million, achieving remarkable growth of 159.46%.
Good Vibes Club secured fourth place with $4.0 million, up an impressive 264.67%, whereas BRC-20 NFTs continued to decline, now at $3.2 million, down 43.57%. Finally, CryptoPunks dropped to sixth place with $2.6 million, a decrease of 15.52%.
Highlighting the week’s notable sales:
- CryptoPunks #6634: $431,243 (222.5 ETH)
- Azuki #641: $209,021 (110 WETH)
- Autoglyphs #166: $198,308 (103 ETH)
- Autoglyphs #275: $189,198 (100 WETH)
- Autoglyphs #402: $188,475 (99.9 ETH)