The NFT market has witnessed a decline in sales volume over the past week, with figures dropping to $73.7 million—a 4.2% decrease from the previous week’s $109 million, according to Cryptoslam. This downturn contrasts with the prior week’s 7.68% increase, highlighting a significant shift in the market dynamics.
Buyer and Seller Trends
Despite the reduction in overall sales volume, the number of NFT buyers surged by 132%, reaching 521,640, while the number of sellers stood at 270,413. However, NFT transactions fell sharply by over 26% to 1,217,967 during the same period.
Blockchain Performance
Ethereum: Ethereum remains the leading blockchain in NFT sales with $23.9 million, though it experienced a 9.6% decline from the previous week. Notably, 12.24% of these sales were attributed to wash trading.
Solana: Solana surged to the second position with $16 million in sales, marking a 17.89% increase in volume.
Bitcoin (BTC), Polygon (POL), and Binance Coin (BNB) followed, with sales of $13 million, $7.5 million, and $3.3 million, respectively. Solana and Bitcoin had wash trading rates of 6.41% and 4.54%, respectively, while BNB reported the lowest wash trading.
NFT Collection Highlights
Guild of Guardians: Topped the sales charts with $2.86 million from 5,786 transactions on the Immutable-Zk chain.
DogeZuki Collection: Secured the second spot with $2.4 million in sales from 61,447 transactions on Solana.
Sorare: On Ethereum, this collection achieved $2.368 million in sales with 108,690 transactions.
CryptoPunks: Ranked fourth with $2.2 million from 25 transactions.
DMarket: On the Mythos blockchain, rounded out the top five with $2.1 million in sales and 80,713 transactions.
Top NFT Sales
Several high-value NFT sales occurred despite the market’s volatility:
- CryptoPunks #1219: Sold for $308,316.94 (130 ETH).
- Autoglyphs #337: Achieved $223,153.25 (87.6692 WETH).
- Autoglyphs #337: Additionally sold for $171,000.00 (171,000 USDC).
- Known Origin #22001: Secured $140,695.52 (55 WETH).
- Autoglyphs #281: Reached $129,684.88 (51 WETH).
As the NFT market continues to evolve, the recent surge in Solana’s network sales indicates a dynamic shift in blockchain dominance, while overall market sales face a notable decline.
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