This week saw a significant decline in the non-fungible token (NFT) market, which saw sales decline by approximately 16% after a 17% surge the previous week.
for every CryptoSlamTotal sales reached $121.7 million, with more than 519,000 buyers and sellers actively trading.
Blockchain NFT Sales Collapse
The Ethereum (ETH) network led these sales with $39.28 million in sales, a notable increase of 14.48% from the previous week.
This rise was accompanied by a notable increase in the number of active buyers on Ethereum's NFT space, with the number rising by approximately 48% to 23,586. The network also saw an increase in wash trading, by 35.49% to over $34 million.
Bitcoin (BTC), which was the busiest network in terms of sales the previous week, fell to second place this week, with sales of about $26.5 million, representing a decrease of 45.60. Bitcoin recorded over 18,000 active buyers, which represents a massive 804% increase from last week. Wash trading on the network fell by about 53%, settling at $20,030.
After increasing sales by 22% the previous week, this week saw Polygon (MATIC) cut approximately 5.5% of its weekly sales volume to settle at $18.43 million. Solana (SOL) remained in fourth place with sales of $14,631 million, a decrease of 18.18%. For its part, Immutable
Highest NFT sales
The highest sales this week were from the Ethereum blockchain, where an NFT sold for $587,194. The Bitcoin Ordinal, Protoshroom #6, traded for $237,373, while Polygon TTAvatars #128003 sold for $100,500.
Solana's DeezNode #052 sold for $77,839, beating out BNB NFT, Ape Treasure Bill V2 V3 #12668, which sold for $31,516.
Among the groups, Immutable's Guild of Guardians Avatars had the highest sales volume in the past seven days, generating more than $8.1 million in 1,614 transactions.
Bitcoin's PIZZA NFTs followed, bringing in $7.3 million, representing a massive 60% decline from the previous week's numbers.
A new entrant into the top five groups ranked by sales volume was Ethereum Name Service (ENS), which claimed third place with over $5.3 million worth of NFTs sold. This number represents a staggering 1,022% jump, with funds coming from just 295 buyers.
DMarket's collection on Mythos generated $4.6 million from nearly 190,000 transactions, while Bitcoin Puppets from the Bitcoin Network took fifth place with sales of about $2.7 million.