The NFT market is experiencing significant shifts alongside a broader crypto market downturn. Sales volumes have decreased by 33%, reflecting a general decline in activity.
Overall Decline in NFT Market
According to the latest CryptoSlam data, the NFT market has cooled this week as both prices and trading activity fell. Total sales volume reached $119.5 million — a 33% drop from last week's activity. The market data shows continued pullback in trading: NFT sales volume has fallen to $119.5 million from $137.9 million. Wash trading on Ethereum decreased 58.47% to $23.7 million.
Network Activity Shows Mixed Results
Ethereum remains the leading chain with $62.6 million in sales despite a 38.43% drop. The network saw buyer numbers fall 71.26% to 16,852, while wash trading decreased to $23.7 million. Mythos Chain moved up to second place with $13.9 million in sales, growing 4.66%. Solana held the third position with $11.0 million, falling 32.56%. Polygon and Bitcoin rounded out the top five with $8.1 million and $6.7 million, respectively, with Bitcoin seeing a steep 71.31% decline.
Top NFT Market Leaders
Pudgy Penguins maintained its lead despite sales dropping 37.55% to $9.1 million. The collection saw steady buyer interest with 172 participants, though transactions fell 2.07%. DMarket took second place with $8.7 million, rising 7.98% and keeping high volume with 322,241 transactions. Courtyard strengthened its position in third with $7.3 million, growing 25.78% and attracting 10,935 buyers. CryptoPunks fell to fourth with $5.2 million, down 30.01%, while Azuki dropped to fifth with $5 million, seeing a 79.17% decrease in sales.
The NFT market continues to experience significant changes linked to broader market volatility. Despite declining volumes, collections like Pudgy Penguins remain a reliable choice for investors.
