In a week marked by fluctuations, the NFT market experienced a 4.3% drop in sales, totaling $90,678,150. However, the market also saw a notable increase in participation, with the number of NFT buyers rising by 31.48% and sellers by 25.86%. This mixed performance underscores the evolving dynamics within the NFT ecosystem.
Ethereum, Solana, and Bitcoin Lead the NFT Market
Ethereum-based NFTs continued to dominate the market, generating $32,195,968 in sales, though this figure reflects an 8.26% decrease from the previous week. Solana followed with $19.4 million in sales, marking a 6.39% increase, while Bitcoin NFTs saw a significant 12.39% boost, reaching $13.7 million in sales.
Top NFT Collections and Notable Sales
Ethereum’s Cryptopunks collection led the week with $5.43 million in sales, despite a 29.01% decline. Solana’s Monkey NFTs secured second place with $3.36 million in sales, up by 52.16%. Immutable X’s Guild of Guardians (GoG) rounded out the top three, posting $3.31 million in sales, a 6.62% increase from the previous week.
The most expensive NFT transaction of the week was Bored Ape Yacht Club #7,398, which sold for $325,387. Other high-profile sales included an Arbitrum GUSDC Locked Deposit at $184,956 and a Bitcoin-based Ordinal Maxi Biz NFT at $82,819.
Market Outlook
This week’s NFT market activity highlights a landscape that remains dynamic and resilient, despite a slight dip in overall sales. The increase in buyer and seller participation suggests continued interest and engagement in the NFT space, with varied performance across different platforms and collections indicating a market still in the process of maturation.
