Despite the overall crypto market reaching new heights, the NFT market has experienced a slight drop with sales volume dropping by 0.05% to $129.8 million.
Bitcoin (BTC) has surged to the $108,000 level after hitting $111,000, a new ATH. At the same time, Ethereum (ETH) has shown a mild recovery to the $2,700 level in the last seven days and has now dropped to the $2,500 level. The global crypto market cap is now $3.42 trillion, up from last week’s $3.29 trillion.
According to data from CryptoSlam, market participation has increased. NFT buyers grew by 61.18% to 443,548, and NFT sellers rose by 31.87% to 199,129. NFT transactions have also risen by 15.39% to 1,697,343.
Ethereum leads with $29.6m in NFT sales
Ethereum maintains its dominant position with $29.6 million in sales. However, it has seen a 26.22% decline from the previous week and wash trading has decreased by 57.18% to $2 million.
Avalanche (AVAX) has made a dramatic entrance into second place with $22.3 million in sales and has seen a surge of 202.92%.
Source: Blockchains by NFT Sales Volume (CryptoSlam)
Polygon (POL) holds the third position with $21.3 million and has shown solid growth of 45.98%. Bitcoin has dropped to fourth place with $18.2 million. It has fallen 21.85% from last week.
Mythos Chain rounds out the top five with $13.9 million. Immutable (IMX) appears in sixth with $8.6 million, while Solana (SOL) sits in seventh with $6.4 million, with a 26.36% drop.
The buyer count has increased across most blockchains, with Avalanche leading at 79.08% growth. This is followed by Bitcoin at 72.98% and Solana at 71.09%.
A major change has happened in collection rankings, with XSY Deposit on Avalanche taking the top spot at $22.1 million in sales. However, this collection appears to be dominated by a single buyer and seller.
Courtyard on Polygon has moved to second place with $14.4 million and has rebounded with 23.23% growth. DMarket remains in third with $8.8 million, up 7.07%.
Bitcoin’s BRC-20 NFTs have fallen to fourth place with $6 million, dropping 15.78%. Guild of Guardians Heroes holds fifth with $5.9 million.
CryptoPunks has dropped to sixth place with $4.8 million in sales, with a 30.94% decline. The collection has seen decreases across all metrics including transactions (42.31%), buyers (37.84%), and sellers (45.24%).
Read last week’s NFT performance from here. Notable high-value sales from this week include:
- CryptoPunks #3609 sold for 440 ETH ($1,089,338)
- CryptoPunks #2537 sold for 80 ETH ($197,242)
- CryptoPunks #2542 sold for 59 ETH ($155,440)
- CryptoPunks #6479 sold for 58.4 ETH ($149,478)
- CryptoPunks #7161 sold for 53.69 ETH ($142,816)