The NFT market has experienced a sharp correction with sales volume dropping by 25.78% to $134 million. This reversal follows the previous week’s recovery.
Summary
- NFT sales fall 25% to $134M, but buyers and sellers both rise over 25%
- Polygon and BNB post strong gains while Ethereum sales drop 41%
- Courtyard leads collections with $14.7M sales, CryptoPunks plunge 59%
As per CryptoSlam data, despite the sales decline, market participation has continued to expand. NFT buyers have grown by 25.74% to 450,096, and NFT sellers have risen by 25.91% to 321,107. NFT transactions have increased by 6.26% to 1,652,284.
The market situation is also volatile as the Bitcoin (BTC) price has dropped to the $115,000 level. At the same time, Ethereum (ETH) has risen to $4,700. The global crypto market cap is now $3.98 trillion, up from last week’s market cap.
Ethereum maintains lead in sales
Ethereum has maintained its leading position with $60.7 million in sales, though declining 41.63% from the previous week. Ethereum’s wash trading has fallen by 55.47% to $13.5 million.
BNB (BNB) Chain has held second place with $20.6 million, rising 10.63%. Polygon (POL) has climbed back to third position with $16.1 million, surging 37.86%.
Mythos Chain remains in fourth with $9.7 million, up 3.17%. Solana (SOL) sits in fifth with $7.5 million and dropped 13.63%.
Immutable (IMX) holds sixth place with $7.2 million, down 10.70%. Cardano (ADA) has entered the top seven with
Go to Source to See Full Article
Author: Vignesh Karunanidhi
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
