NFT transaction volume plummeted 22.65% to $104.5 million this week, marking one of the largest weekly declines in recent months, according to CryptoSlam data. Despite the drop in volume, the number of NFT buyers rose by 14.89% to 622,535, and sellers increased by 16.25% to 447,821. However, the total number of transactions fell by 3.07% to 1,699,318.
Ethereum led the networks with a transaction volume of $37.7 million, a 29.88% decrease from the previous week. Other networks also saw declines: Polygon at $15.7 million (down 17.43%), Mythos Chain at $10.1 million (down 1.73%), BNB Chain at $9.5 million (down 23.59%), Bitcoin at $7.8 million (down 32.40%), and Solana at $5.1 million (down 6.81%). Notable sales included CryptoPunks #5898 for 100 ETH ($445,786) and Known Origin #88512 for 70 ETH ($307,384).
NFT Market Sees 22.65% Drop in Weekly Transaction Volume
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