NFT Market Sees Sales Drop Nearly 8 Percent
The non-fungible token market has experienced a noticeable cooling period, recording a sales slide of nearly 8 percent over a one week tracking window. According to data published by CoinGape, citing metrics from DappRadar, total NFT sales reached $74.86 million during the period, reflecting a 7.91 percent decline compared to the previous week’s figures.
Ethereum maintained its position at the top of the blockchain sales volume rankings, bringing in $27.25 million. However, Ethereum-based NFT sales still suffered a 9.73 percent drop. Bitcoin secured the second position with $14.89 million in sales, representing a contrasting 31.01 percent increase. Meanwhile, Solana captured the third spot with $12.47 million, marking a 12.31 percent decrease in volume.
Among individual collections, Cryptopunks emerged as the top market performer for the week. The prominent project generated $5.39 million in sales, representing a 9.45 percent increase in its weekly volume despite the broader market downturn. Market analysts observing the sector note that the overall contraction coincides with a general plunge in active buyer participation across multiple leading networks, pointing to shifting sentiment within the digital collectible space.
Based on reporting by coingape.com.
