The NFT market has experienced a sharp correction with sales volume dropping by 25.78% to $134 million. This reversal follows the previous week’s recovery.
Summary
- NFT sales fall 25% to $134M, but buyers and sellers both rise over 25%
- Polygon and BNB post strong gains while Ethereum sales drop 41%
- Courtyard leads collections with $14.7M sales, CryptoPunks plunge 59%
As per CryptoSlam data, despite the sales decline, market participation has continued to expand. NFT buyers have grown by 25.74% to 450,096, and NFT sellers have risen by 25.91% to 321,107. NFT transactions have increased by 6.26% to 1,652,284.
The market situation is also volatile as the Bitcoin (BTC) price has dropped to the $115,000 level. At the same time, Ethereum (ETH) has risen to $4,700. The global crypto market cap is now $3.98 trillion, up from last week’s market cap.
Ethereum maintains lead in sales
Ethereum has maintained its leading position with $60.7 million in sales, though declining 41.63% from the previous week. Ethereum’s wash trading has fallen by 55.47% to $13.5 million.
BNB (BNB) Chain has held second place with $20.6 million, rising 10.63%. Polygon (POL) has climbed back to third position with $16.1 million, surging 37.86%.
Source: Blockchains by NFT Sales Volume (CryptoSlam)
Mythos Chain remains in fourth with $9.7 million, up 3.17%. Solana (SOL) sits in fifth with $7.5 million and dropped 13.63%.
Immutable (IMX) holds sixth place with $7.2 million, down 10.70%. Cardano (ADA) has entered the top seven with $3.1 million, jumping 48.96%.
NFT buyer count jumps
The buyer count has increased across most blockchains, with Cardano leading at 91.41% growth, followed by BNB Chain at 84.48% and Immutable at 72.18%.
Courtyard on Polygon has reclaimed the top spot in collection rankings with $14.7 million in sales, surging 41.01%. The collection has seen growth in buyers (186.96%) and transactions (45.28%).
SpinNFTBox on BNB Chain holds second place with $10.9 million, rising 39.83%. The collection continues to be dominated by a single seller despite having 1,424 buyers.
CryptoPunks has fallen to third place with $8.7 million, plunging 59.28%. The collection has seen decreases across all metrics, including transactions (56.98%), buyers (52.78%), and sellers (30.23%).
Moonbirds sits in fourth with $7.4 million, up 29.94%. DMarket holds fifth place with $4.6 million, rising 8.70%. Guild of Guardians Heroes rounds out the top six with $4.2 million, growing 18.72%.
Notable high-value sales from this week include:
- CryptoPunks #1082 sold for 80 ETH ($350,969)
- CryptoPunks #2596 sold for 72.99 ETH ($315,628)
- CryptoPunks #5477 sold for 66 ETH ($285,187)
- CryptoPunks #3704 sold for 63 ETH ($271,922)
- CryptoPunks #8864 sold for 56.5 ETH ($269,994)