NFT Market Experiences Weekly Decline in Trading Volume

The NFT market witnessed a notable decrease in trading volume this week, dropping by 25.78% to $134 million, as per Crypto.news and data from CryptoSlam. Despite the decline, the number of buyers increased by 25.74%, reaching 450,096, while sellers rose by 25.91% to 321,107. Total NFT transactions also saw growth, rising by 6.26% to reach 1,652,284. The Ethereum network experienced a significant drop in trading volume, falling by 41.63% from the previous week, reaching $60.7 million. In contrast, the BNB Chain witnessed an increase of 10.63%, hitting $20.6 million. The Polygon network’s trading volume rose by 37.86%, reaching $16.1 million, while Mythos Chain saw a modest increase of 3.17%, amounting to $9.7 million. Lastly, the Solana network’s trading volume fell by 13.63% to $7.5 million. Notable high-value sales this week included several CryptoPunks NFTs: CryptoPunks #1082 sold for 80 ETH ($350,969), CryptoPunks #2596 for 72.99 ETH ($315,628), CryptoPunks #5477 for 66 ETH ($285,187), CryptoPunks #3704 for 63 ETH ($271,922), and CryptoPunks #8864 for 56.5 ETH ($269,994).