NFT sales drop to $89.4m, CryptoPunks sales jump 106%

Despite the broader crypto market’s upward movement, the NFT market is struggling, with sales volume dropping by 6.15% to $89.4 million.

At press time, Bitcoin (BTC) is above the $94,000 level. Ethereum (ETH) is up 0.4% and just below the $1,800 level.

The global crypto market cap is now $2.97 trillion, up from last week’s $2.69 trillion.

According to data from CryptoSlam, the NFT buyer count has increased by 54.33% to 391,498, while NFT sellers have grown by 45.06% to 223,311. However, NFT transactions have decreased by 10.25% to 1,404,451.

Ethereum remains leading blockchain

Ethereum remains the leading blockchain for NFT sales with $25.1 million. This is a 22.07% increase from the previous week. Ethereum’s wash trading has surged by 57.01% to $3.4 million.

Source: Blockchains by NFT Sales Volume (CryptoSlam)Mythos Chain has climbed to second place with $15.1 million in sales, a slight 1.21% improvement. Bitcoin has slipped to third position with $14.7 million which is a 14.18% decrease from last week.

Polygon (POL) dropped to fourth place with $9.9 million in sales, a 53.63% plunge. Solana (SOL) rounds out the top five with $9.2 million and rebounded with a 40.70% increase.

The buyer count has grown across most blockchains, with Solana leading with an 83.66% growth rate, followed by Polygon with 57.77% and Bitcoin with 52.82%.

A major shift has occurred in the collection rankings, with DMarket reclaiming the top spot with $9.9 million in sales. Courtyard on Polygon has fallen to second place with $8.8 million, a steep 55.39% drop.

The most surprising development is CryptoPunks’ resurgence to third place with $3.6 million in sales. This is a 106.19% increase after its previous decline. The collection has seen across-the-board growth with transactions up 90%, buyers up 107.14%, and sellers doubling.

Guild of Guardians Heroes is fourth with $3.6 million, though sales are down 7.05%. Bitcoin’s BRC-20 NFTs are fifth with $2.9 million and have fallen 21.87%.

New entrants in the top collections include Guild of Guardians Avatars, which is sixth with $1.5 million, and Pudgy Penguins, which is seventh with $1.5 million.

Notable high-value sales from this week include:

• Uncategorized Ordinals NFT sold for 6 BTC ($558,754)
• CryptoPunks #741 sold for 317 ETH ($500,944)
• CryptoPunks #2301 sold for 134 ETH ($233,817)
• SuperRare #10093 sold for 173,700 USDC ($173,700)
• BoredApeYachtClub #6669 sold for 99 ETH ($162,584)