NFT Market Sees Decline in Volume Despite Rising Buyer Activity

According to Cryptoslam, NFT market sales volume dropped by 15,69% over the past 7 days, falling to $120.921 million. Despite the overall decline, the number of buyers increased by 50,56%, reaching 1.061 million. The number of sellers also rose by 8,09%, while total transactions hit 1.319 million.

Demand for Collectible NFTs Remains Steady

Meanwhile, the CryptoPunks collection continues to lead in floor price at 38.99 ETH, equivalent to $100.334. Over the past week, the floor price rose by 5,54%. Notable sales include CryptoPunk #5213 at 50 ETH ($125.133) and CryptoPunk #314 at 48.3 ETH ($125.407). Several other tokens from the same collection also sold for between 39.5 and 47.5 ETH.

The Bored Ape Yacht Club collection holds second place with a floor price of 10.7 ETH ($27.566), posting a 6,09% increase. Pudgy Penguins ranked third, with a minimum price of 9.5 ETH ($24.463), though the collection slipped slightly by 0,53% during the week.

Polygon and Bitcoin Climb as Ethereum Loses Ground

Among blockchains by sales volume, Immutable leads with $28.018 million, though it saw a 46,05% weekly drop. Polygon posted a sharp increase of 27,56%, reaching $24.448 million. Ethereum fell to third place with $20.656 million in sales and a 24,32% decline.

Mythos and Bitcoin, in contrast, recorded growth. Bitcoin ranked fifth with $11.902 million, gaining 37,40% over the week.

Polygon Sees Surge in Wash Trading

Polygon also showed a sharp rise in wash trading volume, jumping by 1601,94% over the week. Ethereum recorded a significant portion of such transactions as well, totaling $1.446 million, a 30,25% increase. In other networks, the level of wash trading remained stable or declined.

Previously: NFT Market Drops 15% in a Week

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