NFT Market Shows Steady Growth Amidst Declining Participation
The NFT market is on a positive streak, with sales volume rising by 10.69% to $115 million. This marks the second week of growth, according to CryptoSlam data. Meanwhile, bitcoin (BTC) has climbed back to $103,000, and Ethereum (ETH) has seen a 35% recovery, now at $2,400.
The global crypto market cap has reached $3.33 trillion,up from $3 trillion last week. However, despite the rising sales, market participation has dropped. NFT buyers have fallen by 76.8%, and sellers by 74.42%. Transactions have also decreased by 11.57%.
Ethereum leads the NFT sales with $37.5 million, a 54.17% increase from the previous week.Polygon (POL) holds second place,though sales have dropped by 8.08% to $19.1 million. Mythos Chain is in third with $15.6 million.
Bitcoin is fourth with $14 million in sales, up 4.65%. Solana (SOL) rounds out the top five with $7.9 million, a 5.71% decrease. Buyer counts have dropped across all major blockchains, with Bitcoin seeing the largest decline at 86.99%.
In collection rankings, Courtyard on Polygon leads with $17.4 million in sales. DMarket is second with $10.5 million, and Guild of Guardians Heroes is third with $5.6 million.Doodles has entered the top five with a 490.68% increase in sales.
Notable sales this week include CryptoPunks #7261 for 150 ETH ($274,119) and Mutant Ape Yacht Club #30001 for $194,815.
For more details, visit the CryptoSlam website.
