NFT Market Volume Drops 28.93% to $107.1M, Despite Growing Buyers

In Brief

NFT trading volume fell 28.93% week-on-week to $107.1 million.

Ethereum NFT sales dropped 67.86%, while Bitcoin-based NFTs surged 16.73% to $24.3 million.

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The NFT market experienced a significant decline in trading volume, dropping 28.93% in the past seven days, according to Crypto.news. Despite the downturn, the number of NFT buyers increased by 36.02% (456,874), while sellers rose 32.81% (314,871), indicating sustained user activity.

Network Breakdown

• Ethereum: Sales plummeted 67.86% to $25.3 million, despite a 20.27% increase in buyers.
• Bitcoin: Sales rose 16.73% to $24.3 million, with buyers up 30.71%.
• Mythos Chain: Declined 4.79% to $14.7 million, maintaining third place.
• Polygon: Surged 45.35% to $14.2 million, securing fourth place.
• Solana: Increased 12.41% to $12.1 million, ranking fifth.

While overall NFT market volume has dropped, the rising participation of buyers and sellers suggests continued demand, with Bitcoin and Polygon seeing notable gains.

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