NFTs in a Bit of a Slump

Whoa! Hold onto your digital wallets, folks! The NFT world is experiencing a bit of a tumble, with sales dropping by a whopping 28.42% this week, landing at around $98.18 million. Who knew non-fungible tokens could be so… fungible in their drops?

But Wait, There’s More!

While sales might be hitting the brakes, the number of NFT buyers is hitting the gas! We’ve seen a 22.86% increase in buyers, totaling 626,341! Sellers are also multiplying faster than rabbits, rising by 13.54% to hit 469,316. Talk about a marketplace party! 🎉

Transactions on the Decline

But it’s not all sunshine and rainbows—overall NFT transactions dipped 5.08%, clocking in at 1,458,311. It seems like the global crypto market cap is also feeling the heat, dropping to a mere $3.71 trillion from the previous week’s $3.75 trillion. Ouch!

Top NFT Players

Let’s see who’s making waves in the NFT ocean. DMarket, riding on the Mythos blockchain, is taking a hit, down 34.09% from last week, but still hangs onto the top spot with $5.92 million in sales. They managed to process 209,894 transactions with a solid crowd of buyers and sellers!

Next in line, DX Terminal on Base is feeling the chill with a sales drop to $5.62 million, down 18.23% from $7.56 million. But hey, they’ve logged 294,979 transactions like champs!

Now, let’s talk about the Bored Ape Yacht Club, which decided it’s time for a comeback tour! This iconic collection saw a surge of 108.47%, rocking $5.22 million in sales and tying with buyers and sellers at 115 apiece. Go, Apes!

Then we have the Pudgy Penguins waddling in with a solid performance at $4.85 million, up 21.07% from last week’s $3.80 million. They’re not flapping their fins too hard, but they are doing alright!

Also making their mark is the Guild of Guardians Heroes on Immutable-Zk, making a respectable $3.88 million, which is an 11.11% bump from last week. With 3,100 transactions, they’re definitely gaining some traction!

Ethereum and Friends

The Ethereum collection is still flexing its muscles with $41.72 million in sales, up 19.72% from last week’s $35.04 million. Tack on a tidy $3.59 million in wash trading, and you’ve got yourself quite the ether party! Buyers increased by 14.66%, totaling 54,401!

Let’s not forget about Bitcoin, holding its ground at second place with $11.55 million, despite a slight dip of 11.47% from last week. 18,316 lucky buyers joined the BTC bandwagon, a jump of 36.06%!

Base is clinging to third with $10.36 million, up 7.34% over last week. Meanwhile, Immutable climbed its way up with $6.56 million, showing off a 12.54% increase from the prior week. And Solana? Oh boy, they’ve secured fifth place with a surge of 30.28% to $6.16 million!

But poor Mythos Chain—showing a bit of wear and tear, dropping to sixth place at $6.09 million, down 33.27% from last week. They still managed to attract 46,981 buyers!

Bottom Line

Even with the sales dips and market shakiness, the NFT scene is far from boring. Whether you’re a buyer or seller, there’s still a lot happening in the wild world of digital collectibles. So buckle up and stay tuned for the rollercoaster that is the NFT market!