NFT sales have experienced a 16% decline, reaching just below $122 million this week. This drop comes after a 17% increase in sales the previous week. According to CryptoSlam, there were over 519,000 active buyers and sellers participating in the market.
Leading the sales on the Ethereum network, there was a noteworthy 14.48% increase to reach $39.28 million. Additionally, the number of active buyers in Ethereum’s NFT space rose by almost 48% to 23,586. However, wash trading on the network saw a 35.49% increase to over $34 million.
Bitcoin, which had the highest sales volume in the previous week, dropped to second place with approximately $26.5 million in sales, representing a 45.60% decrease. However, the number of active buyers on Bitcoin increased by a staggering 804% to over 18,000. Wash trading on the network decreased by about 53% to $20,030.
Polygon experienced a 5.5% decrease in weekly sales, settling at $18.43 million after a 22% boost in the previous week. Solana remained in fourth place with $14.631 million in sales, down by 18.18%. On the other hand, Immutable X saw a 9.40% surge in sales.
In terms of top NFT sales, Ethereum took the lead with an NFT selling for $587,194. A Bitcoin Ordinal, Protoshroom #6, was sold for $237,373, while a Polygon TTAvatars #128003 fetched $100,500. Solana’s DeezNode #052 was sold for $77,839, surpassing a BNB NFT, Ape Treasury Bill V2 V3 #12668, which fetched $31,516.
Among collections, Immutable’s Guild of Guardians Avatars had the highest sales volume, generating over $8.1 million from 1,614 transactions. Bitcoin’s PIZZA NFTs followed, generating $7.3 million, which was a significant 60% decrease from the previous week. The Ethereum Name Service (ENS) emerged as a new entrant in the top five collections, securing the third spot with more than $5.3 million in NFTs sold. This represented a remarkable 1022% increase, with the money coming from just 295 buyers. The DMarket collection on Mythos earned $4.6 million from nearly 190,000 transactions, while Bitcoin Puppets from the Bitcoin network ranked fifth with approximately $2.7 million in sales.