The NFT market is recovering even though the crypto market is still struggling. Bitcoin has fallen to $86,000, and Ethereum is down to $2,100.
The total value of the global crypto market has also dropped slightly, decreasing from $2.84 trillion last week to $2.83 trillion now.
According to CryptoSlam data, NFT sales volume has up to $121.5 million, marking a 15.27% appreciate from the previous week. However, market participation has contracted sharply, suggesting larger trades from fewer participants.
The weekly metrics reveal contrasting trends:
- NFT sales volume rose to $121.5 million from $107.1 million
- NFT buyers plummeted 94.39% to 25,641
- NFT sellers fell 91.84% to 25,717
- NFT transactions increased 5.21% to 1,615,020
Ethereum sales jump, but buyer numbers drop
Ethereum eth-7.96%Ethereum sales jumped 50.76% to $37.6 million, though buyer numbers dropped 69.09% to 15,471. Wash trading rose 39.46% to $3.9 million.
Bitcoin btc-4.72%Bitcoin saw a decline of 17.21% to $21.0 million. Solana sol-7.57%Solana moved up to third place with $18.0 million, growing 51.24%. Mythos Chain held fourth with $15.2 million, up 2.84%, while Polygon pol-7.39%POL (ex-MATIC) dropped to fifth with $13.5 million, down 7.98%.
When it comes to the top collections, Courtyard maintained its lead with $11.7 million, despite a 6.18% drop. The Polygon-based project continued strong activity with 141,076 transactions.
DMarket climbed to second with $10.1 million, growing 4.83% and keeping solid volume with 351,203 transactions. Paradise, a Solana collection, burst into third place with $9.8 million, posting a 292.14% increase.
CryptoPunks made a major comeback, jumping to fourth with $7.1 million, surging 519.26%. BRC-20 NFTs took fifth with $7.1 million, up 173.4%.
Pudgy Penguins showed signs of recovery in seventh place with $2.4 million, climbing 54.82% with increases across all metrics.
There were several big sales this week:
- CryptoPunks #4464: $2,196,232 (1011 ETH)
- Uncategorized Ordinals #7d0: $1,321,676 (14 BTC)
- CryptoPunks #8868: $646,201 (288.88 ETH)
- CryptoPunks #364: $342,136 (160 ETH)
- SuperRare #38335: $219,441 (100 ETH)
Source: crypto.news
