NFT Sales Plunge 28% as Market Participation Collapses

According to CryptoSlam data, NFT sales volume has plunged by 27.65% to $62.58 million, down from last week’s $88.29 million.

Summary

• NFT volume fell nearly 28% as buyer and seller counts dropped more than 75% week over week.
• Ethereum held top chain spot while Bitcoin NFT sales crashed over 65% in the past week.
• CryptoPunks led collections even as overall NFT activity hit multi-week lows.

Market participation has crashed, with NFT buyers plummeting by 82.75% to 60,985 and sellers collapsing by 77.69% to 56,228. NFT transactions fell by 23.64% to 690,550.

This bearish performance is happening as Bitcoin (BTC) price has held steady at the $90,000 level following last week’s recovery.

Ethereum (ETH) has lost the $3,100 level, dropping back below this key threshold. The global crypto market cap now stands at $3.09 trillion, up marginally from last week’s $3.08 trillion.

CryptoPunks claims top spot as Bitcoin BRC-20 fades

CryptoPunks on Ethereum has surged to first place with $3.59 million in sales, up 33.58% from last week’s $2.69 million. The collection processed 31 transactions with 21 buyers and 17 sellers.

YES BOND on BNB held second position at $2.75 million, posting minimal growth at 1.34% from last week’s $2.72 million. The collection recorded 2,277 transactions with 1,836 buyers and just 1 seller.

Panini America on the Panini blockchain exploded to third with $2.51 million, surging 176.41%. The collection saw 19,194 transactions with 934 buyers and 1,765 sellers.

Source: Top collections by NFT Sales Volume (CryptoSlam)Pudgy Penguins dropped to fourth at $2.15 million, down 8.80% from last week’s $2.39 million. The Ethereum collection had 134 transactions with 74 buyers and 81 sellers.

TokenVestingPlans on Ethereum secured fifth place with $1.81 million, posting a 3,779.55% surge. The collection processed 44 transactions with just 1 buyer and 14 sellers.

Guild of Guardians Heroes on Immutable-Zk secured sixth position with $1.77 million, down 22.72% from last week. The collection recorded 1,279 transactions.

Ethereum maintains lead as Bitcoin collapses

Ethereum held first position with $26.76 million in sales, essentially flat with a 0.10% decline from last week’s $27.57 million.

The network recorded $3.97 million in wash trading, bringing its total to $30.73 million. Buyers collapsed by 86.03% to 3,338.

Bitcoin tumbled to second place with $10.43 million, crashing 65.16% from last week’s $29.95 million. The blockchain recorded $97,394 in wash trading, with buyers plummeting 86.01% to 1,713.

BNB Chain (BNB) held third position at $7.00 million, essentially flat with a 0.62% decline from last week. The blockchain had $8,217 in wash trading, with buyers collapsing 94.36% to 2,820.

Source: Blockchains by NFT Sales Volume (CryptoSlam)Immutable (IMX) secured fourth at $3.91 million, up 18.29% from last week’s $3.26 million. Buyers dropped 85.68% to 886.

Solana (SOL) climbed to fifth with $3.73 million, surging 37.01% from last week’s $2.89 million. The blockchain recorded $379,310 in wash trading, with buyers falling 86.81% to 5,098.

Panini placed sixth with $2.51 million, exploding 173.06%. The blockchain had 934 buyers, up just 2.08%.

Base landed in seventh at $2.09 million, down 23.14% from last week’s $3.11 million. The blockchain recorded $4.83 million in wash trading, with buyers dropping 58.33% to 36,212.

Bitcoin BRC-20 NFT leads despite collection decline

A $X@AI BRC-20 NFT topped individual sales at $1.37 million (15.0069 BTC), sold six days ago, down from last week’s record-breaking $17.13 million sale.

CryptoPunks #7892 placed second at $529,592.56 (169 ETH), sold six days ago.

Bored Ape Yacht Club #3112 secured third at $214,970.88 (69 ETH), sold a day ago.

Two CryptoPunks completed the top five:

• CryptoPunks #1831 sold for $185,473.78 (60 ETH) a day ago
• CryptoPunks #8691 sold for $138,524.39 (45 ETH) nine hours ago