Recent data indicates a significant decline in NFT sales volumes amid a general downturn in the cryptocurrency market. This article examines sales data and key players in the market.
Overall NFT Market Overview
The NFT market is experiencing a continued decrease in sales volumes, which have fallen by 4.7% to $94.7 million. According to CryptoSlam, this trend follows a previous week's volume of $102.8 million. The number of NFT buyers has plummeted by 77.9% to 128,244, while sellers have decreased by 75.2% to 85,792. The total number of transactions has also declined by 6.3% to 1,441,009.
Sales Leaders Among Blockchains
Despite the overall decline, Ethereum remains the dominant player with sales totaling $36.1 million, marking a 41.3% increase from last week. Polygon ranks second with $17.4 million in sales, reflecting a modest 4.3% increase. Following close behind is Mythos Chain with $14.1 million, up slightly by 2%. Solana continues to struggle, experiencing a sharp 33.4% decline to $6.5 million.
Changes in the NFT Market
There are notable changes in trading patterns. Polygon now leads in wash trading volumes at $2.6 million, a significant increase of 232.6%. Meanwhile, Ethereum's wash trading has decreased by 9.2% to $2.5 million. Courtyard on Polygon maintains its top position in sales with $15.6 million, followed by CryptoPunks and DMarket, which registered $9.1 million and $8.9 million in sales, respectively.
Market trends indicate a need for the revival of buyer activity and adaptation to shifts in the crypto economy. Blockchain leaders continue to hold their positions despite the overall downturn.
