The non-fungible token (NFT) market has continued its downward trend, with sales volume falling 8.53% to $129.6 million.

According to data from CryptoSlam, market participation has surged once again, with NFT buyers rising by 18.06% to 541,831, and NFT sellers increasing by 17.05% to 385,179. NFT transactions have grown by 11.96% to 1,814,788.

The slump is closely tied to the overall market situation. The Bitcoin (BTC) price has dropped to the $108,000 level.

At the same time, Ethereum (ETH) has dropped to $4,300. The global crypto market cap is now $3.75 trillion, down from last week’s market cap of $3.98 trillion.

Polygon sales jump 16%

Ethereum has maintained its leading position, with $54.5 million in sales, and has dropped 8.24% from the previous week. Ethereum’s wash trading has surged by 42.68% to $20.1 million.

Polygon (POL) has maintained second place with $18.9 million with a 16.12% surge. BNB (BNB) Chain holds third position with $13.4 million, falling 34.77%.

Mythos Chain sits in fourth with $10.2 million, up 4.71%. Bitcoin rounds out the top five with $7.7 million, declining 30.28%.

Immutable (IMX) holds sixth place with $6.8 million, a 4.95% decrease. Solana (SOL) occupies seventh with $5.7 million, falling 20.44%.

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Author: Vignesh Karunanidhi

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