After a sudden decline in participation for several weeks, the inappropriate token (NFT) market shows early signs of stabilization supported by wider crypto rebounds.
While overall buyer and seller activity has plummeted by nearly 70%, the volume of transactions is creeping up, with certain blockchains and collections erupting with double-digit growth.
In its final check on Saturday, Bitcoin (BTC) rose 5.2% to $115,800 over the past seven days, while Ethereum (ETH) rose 9.1% over the week.
summary
- NFT sales recorded a modest 4.7% recovery at $106.6 million
- Market participation collapsed when buyers and sellers fell by about 70%
- Game collection dominated performance, and the Mythos chain surged to second place
According to Cryptoslam data, this indicates the first positive growth in weeks after a series of declines.
Market participation has been contracted rapidly, with NFT buyers down 69.84% to 180,693, and NFT sellers down 70.87% to 123,713. NFT transactions increased by 2.60% to 1,754,295.
Ethereum has skyrocketed to the $4,700 level. Global crypto market capitalization is $4.07 trillion from $3.81 trillion last week’s market capitalization.
Mythos chain sales jumps above 40%
Buyer count has declined across all blockchains, with the BNB chain achieving a growth rate of 84.35% as the only platform post. At the same time, others saw drops ranging from 65% to 80%.
- Ethereum maintained its lead with $34.1 million sales, down 7.45% from the previous week. Ethereum’s wash trade fell 52.47% to $3.1 million.
- Mythos Chain ranks second with $14.3 million at 41.63%.
- Polygon (POL) fell to third place at $13.6 million, down 13.82%.
- The BNB chain (BNB) holds fourth at $10.3 million, up 7.96%.
- Bitcoin sits fifth at $9.4 million, up 19.49%.
- Immutable (IMX) is the sixth highest at $8.7 million, with a surge of 69.41%.
- Solana (Sol) closed the top seven at $5.5 million, up 12.06%.
Source: Blockchain based on NFT sales volume (Cryptoslam)
Pudgy Penguins sales jump 110%
- Polygon courtyards retain the top spot in the collection rankings, with sales down 13.81% at $12.6 million. This collection has experienced a decline in both buyers (54.79%) and sellers (88.32%).
- DMARKET was second at $8.9 million, with 83.55% jumping. The Game Marketplace benefits from the powerful performance of Mythos Chain.
- The Guild of Guardian heroes will climb to third position at $4.8 million, up 67.68%. In the game collection, it has grown across transactions (44.65%) and buyers (29.18%).
- Panini America ranked fourth at $4.6 million, up 47.89%.
- The BNB chain’s DKTNFT is the fifth largest, at $4.3 million, up 8.94%.
- Pudgy Penguins entered the top six at $3.2 million, surged by 110.52%. The collection has more than doubled transactions (111.43%) and has seen significant growth in both buyers (20%) and sellers (93.10%).
- Sorare completed the top seven for $3 million, surged by 64.07%. The fantasy sports platform is growing by buyers (25.52%) and sellers (5.24%).
Here are some notable high value sales this week:
- Cryptopunks #2368 is for sale at 89 ETH ($408,599)
- Cryptopunks #5702 is for sale at 57.95 ETH ($264,994)
- Cryptopunks #8464 is for sale at 48.5 ETH ($225,753)
- Cryptopunks #6557 is for sale for 50 ETH ($220,923)
- cryptotopunks #5935 is for sale at 46.5 ETH ($216,444)