NFT market sales drop 35% to $112.7M despite buyer growth
Pudgy Penguins fall as DMarket rises
While the cryptocurrency market saw a slight recovery this week, with its total market capitalization increasing to $3.24 trillion from $3.13 trillion, the NFT market experienced a 35% weekly decline, dropping to $112.7 million.
The good news amidst this decline was the return of interest from sellers and buyers, whose numbers grew to 158,805 and 203,994, respectively.
Ethereum retained its leadership position, but sales on its blockchain fell by 41% to $56 million. Wash trading volume on Ethereum decreased by 78% to $12 million, though the number of buyers surged by 81% to 30,598.
Blockchains by NFT sales volume. Source: CryptoSlam
Mythos Chain secured second place with $13.9 million in sales, reflecting a 5% increase. Solana ranked third with $11 million in sales, despite a near 30% decline.
Pudgy Penguins fall as DMarket rises
This week saw Pudgy Penguins sales drop by 55% to $5.1 million, pushing the former leaders to fourth place.
DMarket claimed the top spot with $8.7 million in sales, marking an 8% increase. Courtyard followed with $7.3 million, up by 26%. CryptoPunks ranked third with $5.2 million, despite a 30% decline. Azuki rounded out the top five with a 79% drop to $5 million.
Top sales of the week
Ordinals #8912771: $7,749,449 (80.1296 BTC)
CryptoPunks #2550: $331,955 (125 ETH)
CryptoPunks #793: $146,683 (53.5 ETH)
CryptoPunks #9634: $128,988 (47.5 ETH)
CryptoPunks #9701: $122,883 (45 ETH)
As we wrote, Donald Trump, the elected President of the United States, has launched a new collection of non-fungible tokens (NFTs) titled "Trump Bitcoin Digital Trading Cards" on the Bitcoin blockchain, utilizing the Ordinals protocol.
