Despite the modest crypto market recovery, the NFT market sales volume has dropped by 4.7% to $95.9 million.
Bitcoin (BTC) has recovered to the $85,000 level. At the same time, Ethereum (ETH) has shown a modest 2.4% recovery in the last seven days and is hovering at the $1,600 level. The global crypto market cap is now $2.69 trillion, up from last week’s $2.63 trillion.
Surprisingly, while sales are down, market participation has surged with NFT buyers increasing by 96.6% to 252,354. NFT sellers have also grown by 79.2% to 153,892.
NFT transactions have also risen by 10.4% during this period to 1,569,670.
You might also like: Bitcoin price stuck in a range: volatility drops as market awaits breakout
Ethereum maintains its dominant position
According to data from CryptoSlam, the Ethereum blockchain maintains its position as the leading platform for NFT sales. However, its volume has dropped by 38.7% to $21.6 million. Ethereum’s wash trading also decreased by 23% to $2.1 million.
Source: Blockchains by NFT Sales Volume (CryptoSlam)
Polygon (POL) has strengthened its second-place position with $21.1 million in sales, up 21.5% from the previous week. Bitcoin has climbed to third place with $17.2 million in sales, showing a 42.2% increase.
Mythos Chain now holds fourth position with $14.9 million in sales, a 5.4% improvement. Solana (SOL) rounds out the top five with $6.8 million and has recovered 7% from its previous performance.
The buyer count has increased across all major blockchains, with Solana seeing the largest growth at 133.7%, followed by Bitcoin at 128.9% and Polygon at 125%.
CryptoPunks sales plunge 80%
Courtyard on Polygon has maintained its first position in the collection rankings with $19.5 million in sales, up 24.6% from last week. DMarket holds second place with $9.7 million, which is an 8.8% increase.
Guild of Guardians Heroes has moved up to third place with $3.8 million in sales, a 3.6% rise. Bitcoin’s BRC-20 NFTs follow in fourth with $3.6 million and have surged by 42.1%.
The most notable change in the rankings includes CryptoPunks. Considered one of the most iconic NFT collections on the Ethereum blockchain, CryptoPunks has fallen to sixth place with just $1.7 million in sales. This is an 80.5% collapse from the previous week’s $9.1 million. This collection has also seen drops in transactions (51.2%), buyers (56.6%), and sellers (59.4%).
Despite CryptoPunks’ overall slump, individual sales from this collection still lead the top NFT transactions. Four of the top five highest-priced NFT sales were CryptoPunks. However, the top spot went to SuperRare #10093, which sold for 255 ETH ($419,772).
Other notable high-value sales include:
- CryptoPunks #3873 sold for 165 ETH ($259,514)
- CryptoPunks #1820 sold for 72.69 ETH ($118,299)
- CryptoPunks #1999 sold for 65 ETH ($103,110)
- CryptoPunks #7163 sold for 62.5 ETH ($99,167)
Read more: XRP price historical trends confirm it could still mint millionaires despite recent plunge to $1.64
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