Despite a slight increase in crypto prices, the NFT market continues to decline. However, buyer and seller participation remains strong.
Market Changes in NFT
According to CryptoSlam data, NFT sales volume fell by 5.34% to $100.9 million. Buyers increased by 70.97%, reaching 350,146, while sellers rose by 68.57% to 225,465. Transactions also increased to 1,696,996, marking a 16.90% rise from last week.
Most Affected Crypto Coins
Ethereum-based NFT sales dropped by 13.03% to $27.7 million, despite an increase in buyers by 42.17%. Wash trading decreased by 6.53% to $2.8 million. Bitcoin sales faced a more significant decline of 30.69%, reaching $16.3 million, albeit with a rise in buyer participation by 63.67%.
Market Leaders' Positions
As Ethereum and Bitcoin face sales declines, Mythos Chain recorded a 3.12% increase to $15.6 million. Polygon saw a 5.81% fall, while Solana dropped 5.25%. Courtyard maintained its lead with $11.5 million in sales. DMarket climbed to second place with $10.4 million, and CryptoPunks fell to sixth place with $2.6 million.
Despite the decline in NFT sales volume, the market remains vibrant, with increasing numbers of buyers and sellers. Ethereum and Bitcoin saw notable drops, yet interest in the market stays strong.
