The cooling of the NFT market continues as the total crypto market cap has grown to $3.6 trillion, up from last week’s $3.42 trillion, according to CoinMarketCap data.
Data from CryptoSlam shows that NFT sales fell 17.54% this week to $132.7 million. This is significantly lower than last week’s $152 million in sales. However, the market has seen increased trader participation, indicating continued interest at lower price levels.
Market activity is showing mixed signals:
- NFT sales volume fell to $132.7 million, compared to last week’s $152.7 million
- The number of NFT buyers increased by 25.54% to 667,116
- NFT sellers rose 23.96% to 382,754
- The total number of transactions fell by 16.96% to 1,326,111
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Major blockchain networks are seeing mixed results
Ethereum (ETH) NFT sales fell 25.72% to $56 million, although the number of buyers grew 14.35% to 72,241. Wash trading on Ethereum fell 42.38% to $13.5 million.
Bitcoin (BTC) NFTs bucked the trend, with sales rising 8.38% to $30.3 million. The network attracted 67,423 buyers, an increase of 13.68% from the previous week.
Source: Blockchains by NFT Sales Volume (CryptoSlam)
Mythos Chain climbed to third place with revenue of $11.8 million, a growth of 3.63%. Solana (SOL) fell to fourth position with a 57.91% drop in sales to $9.4 million, despite having the highest number of buyers at 234,220.
Immutable (IMX) rounded out the top five with revenue of $8.2 million, up 2.67% with 18,350 buyers.
Collection rankings show major shifts
Azuki has taken the top spot with sales of $9.4 million, a growth of 3.13% despite lower buyer numbers. DMarket follows with a turnover of $6.7 million, a growth of 7.72% and a high transaction volume with 240,918 transactions.
BRC-20 NFTs are in third place with $5.8 million, despite an 11.33% decline. The Guild of Guardians Heroes saw a 13.74% growth to $5.7 million, while Pudgy Penguins fell to fifth place with $5.3 million, down 57.64% with sharp declines in buyers and transactions.
NFT Collection Rankings: Data from CryptoSlam
The top sales of the week were:
- CryptoPunks #5192: $192,556 (53.69 ETH)
- CryptoPunks #7942: $154,075 (45 ETH)
- CryptoPunks #9208: $153,677 (45.99 ETH)
- CryptoPunks #5203: $153,580 (44.7 ETH)
- CryptoPunks #7210: $147,498 (42.93 ETH)
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