The NFT market continues its positive run, with sales volume increasing by 10.69% to $115 million this week.
Market Trends Overview
According to data from CryptoSlam, this is the second consecutive week of growth for the market. The global crypto market cap is now $3.33 trillion, up from last week's $3 trillion. However, despite rising sales, market participation has sharply declined with NFT buyers dropping by 76.8% to 126,075, and NFT sellers falling by 74.42% to 72,336. The total number of transactions also decreased by 11.57% to 1,524,846.
Sales and Collection Positions
Ethereum has strengthened its position with $37.5 million in sales, which surged by 54.17% from the previous week. Polygon maintained second place despite an 8.08% drop in sales to $19.1 million. Mythos Chain holds third place with $15.6 million. Bitcoin is in fourth place with $14 million, up 4.65% from last week. Solana rounds out the top five with $7.9 million, which is a 5.71% decrease in sales volume.
Notable High-Value Sales This Week
This week, Doodles entered the top five at fourth place with $5.6 million in sales, a 490.68% increase. The collection has grown across all metrics, with transactions up 769.68%, buyers up 618%, and sellers up 469.57%. Notable high-value sales from this week include:
* Known Origin #30101 sold for 410,532.5625 USDC ($410,532) * CryptoPunks #7261 sold for 150 ETH ($274,119) * Mutant Ape Yacht Club #30001 sold for 194,815.0469 USDC ($194,815) * Mutant Ape Yacht Club #30003 sold for 194,815.0469 USDC ($194,815) * CryptoPunks #5767 sold for 69 ETH ($155,383).
Despite the increase in sales volume in the NFT sector, the market is facing a decline in the number of active participants. It is crucial to monitor further trends and changes in purchasing preferences.
