The NFT market saw another week of decline, with overall sales volume falling 5.34% to $100.9 million, even as the broader cryptocurrency market showed modest signs of recovery. Bitcoin edged up toward $84,000, and Ethereum held steady at around $1,900, pushing the total crypto market cap to $2.77 trillion, up from $2.73 trillion last week.
Market Activity Grows Despite Sales Dip
While dollar volumes declined, market activity increased across the board. According to CryptoSlam data:
- NFT buyers surged 70.97% to 350,146
- Sellers climbed 68.57% to 225,465
- Total NFT transactions rose 16.90% to 1.69 million
This disconnect between volume and activity suggests smaller average sale prices and increased participation from retail buyers.
Bitcoin NFTs Hit Hardest
Bitcoin-based NFTs experienced the steepest decline among major blockchains, with sales plummeting 30.69% to $16.3 million. Still, buyer participation on the network jumped 63.67% to 31,251, indicating continued interest despite falling prices.
Ethereum-based NFTs also struggled, with sales dropping 13.03% to $27.7 million, although buyer growth of 42.17% and a 6.53% dip in wash trading point to improving market quality.
Other Chains and Top Collections
- Mythos Chain was a rare bright spot, rising 3.12% to $15.6 million, holding third by volume.
- Polygon (POL) declined 5.81% to $13.3 million.
- Solana dropped 5.25% to $9.4 million.
Among collections:
- Courtyard led with $11.5 million in sales despite a 6.95% dip.
- DMarket rose 4.44% to $10.4 million, supported by over 333,000 transactions.
- Guild of Guardians Heroes saw strong growth of 159.46% to $5.6 million.
- Good Vibes Club posted the largest gain, up 264.67% to $4 million.
- BRC-20 NFTs continued to fall, down 43.57% to $3.2 million.
- CryptoPunks dropped to sixth place with $2.6 million in sales, down 15.52%.
Notable NFT Sales
Several high-profile assets still fetched premium prices:
- CryptoPunks #6634 sold for $431,243 (222.5 ETH)
- Azuki #641 changed hands for $209,021 (110 WETH)
- Autoglyphs #166, #275, and #402 each sold for around 100 ETH ($188K–$198K)
Despite crypto’s steady climb, the NFT market continues to lose momentum in sales volume. However, the increase in user participation and transactions hints at renewed interest at lower entry points—suggesting a shift in buyer behavior rather than a collapse in demand. All eyes remain on Bitcoin NFTs and Ethereum collections as market participants await a potential rebound.
