NFT sales plunge 20% to $58.3 million as Bitcoin price struggles at $70,000
The NFT market recorded $58.34 million in sales volume over the past week, falling 20.34% from the previous period.
NFT buyers climbed 21.97% to 296,018, while sellers jumped 24.63% to 270,495. Transaction volume decreased 4.33% to 660,674.
The overall crypto market has taken a notable hit as Bitcoin has dropped to the $70,000 level, while Ethereum hovers around $2,000.
The global crypto market cap now stands at $2.41 trillion, down from last week’s $2.83 trillion. This market downturn continues to pressure the NFT sector, with weekly sales volume falling for the second consecutive week.
Ethereum leads with $34.9 million despite decline
Ethereum continued to dominate all blockchains with $34.97 million in NFT sales, dropping 23.63% over the seven-day period.
The network drew 33,663 buyers, up 20.44% from the prior week. Wash trading on Ethereum totaled $2.91 million during this timeframe.
Bitcoin secured second place among blockchains with $4.66 million in sales, falling 32.81% week-over-week. The network attracted 12,770 buyers, up 17.10% despite the sales decline.
Base claimed third position at $4.14 million in sales, climbing 8.46% and drawing 83,552 buyers who rose 6.09%.
BNB Chain ranked fourth with $3.93 million in sales, declining 20.62% while seeing 39,715 buyers who increased by 21.37%.
Solana rounded out the top five with $2.61 million in sales, posting a modest 1.14% gain and drawing 80,610 buyers who surged 56.69% from last week.
Immutable dropped to sixth position at $2.34 million, down 29.10%.
Flying Tulip PUT retains lead, CryptoPunks surge
Flying Tulip PUT on Ethereum maintained its dominance in the collection rankings with $11.41 million in sales, plummeting 49.06% from last week’s performance. The collection processed 530 transactions from 259 buyers.
CryptoPunks on Ethereum claimed second place with $4.71 million in sales, surging 146.56% over the week after last week’s 52.35% decline.
The blue-chip collection completed 69 transactions from 44 buyers, with both metrics more than doubling week-over-week.
A Base collection took third position with $2.11 million in sales, climbing 15.82%. Pudgy Penguins posted $2.09 million in sales, down 6.96%, while Bored Ape Yacht Club recorded $1.90 million with a 59.79% surge.
TokenVestingPlans on Ethereum landed in sixth with $1.65 million, climbing 67.85%, while Guild of Guardians Heroes rounded out the top seven with $1.50 million, down 22.82%.
