NFT Sales Slide 38% as Crypto Market Weakness Deepens

The NFT market recorded $74.88 million in sales volume over the past week, plunging 38.25% from the previous period.

NFT buyers climbed 29.75% to 242,824, while sellers jumped 32.02% to 217,181. Transaction volume increased 8.29% to 726,723.

At the same time, Bitcoin (BTC) has plummeted to the $83,000 level, while Ethereum (ETH) has fallen below the $2,700 mark. The global crypto market cap now stands at $2.83 trillion, down from last week’s $3.02 trillion.

Ethereum maintains lead despite 38% decline

Ethereum continued to dominate all blockchains with $46.92 million in NFT sales, falling 38.78% over the seven-day period.

The network drew 28,096 buyers, up 18.26% from the prior week. Wash trading on Ethereum totaled $4.94 million during this timeframe.

Bitcoin suffered the steepest drop among major blockchains, securing second place with $6.46 million in sales, collapsing 71.12% week-over-week. The network attracted 10,905 buyers, up 30.87% despite the sales decline.

BNB Chain (BNB) ranked third with $4.95 million in sales, declining 34.99% while drawing 32,721 buyers who increased by 32.03%.

Base claimed fourth position at $4.24 million in sales, climbing 34.54% and attracting 78,759 buyers who rose 18.90%.

Immutable (IMX) dropped to fifth with $3.26 million in sales, down 12.05%, while Solana (SOL) rounded out the top six with $2.77 million, falling 11.30% compared to the previous week.

Flying Tulip PUT retains top spot

Flying Tulip PUT on Ethereum maintained its dominance in the collection rankings with $22.39 million in sales, dropping 56.59% from last week’s performance.

The collection processed 898 transactions from 432 buyers, while sellers surged 292.31% to 51.

Moonbirds on Ethereum claimed second place with $3.89 million in sales, exploding 108.91% over the week.

The collection completed 1,737 transactions, up 538.60%, from 412 buyers who increased 219.38%.

Pudgy Penguins took third position with $2.28 million in sales, climbing 23.11%. Meld Bank Manager v on Cardano landed in fourth with $2.01 million from a single transaction.

Guild of Guardians Heroes posted $1.93 million in sales, down 16.21%, while CryptoPunks rounded out the top six with $1.91 million, plummeting 52.35% after last week’s 46.74% recovery.

Cardano NFT leads high-value sales

The week’s highest-value sale came from Meld Bank Manager v on Cardano, fetching $2.01 million (5,907,801.2774 ADA) five days ago in a single transaction that accounted for the collection’s entire weekly volume.

• A $X@AI BRC-20 NFT on Bitcoin followed with $1.36 million (15.3783 BTC) six days ago.
• Known Origin #88517 sold for $199,771 (69 ETH) five days ago.

CryptoPunks claimed two spots in the top five individual sales.

• CryptoPunks #8804 sold for $186,431 (63 ETH) six days ago.
• CryptoPunks #5405 brought in $185,602 (63.99 ETH) four days ago.