The NFT market continues its downward trajectory despite modest gains in the broader cryptocurrency market. Recent data from CryptoSlam shows NFT sales volume declined to $100.9 million, representing a 5.34% decrease from the previous week.
Bitcoin NFTs experienced the sharpest decline, with sales plummeting 30.69% to $16.3 million. Ethereum NFTs also struggled, dropping 13.03% to $27.7 million. Meanwhile, Mythos Chain bucked the trend with a slight 3.12% increase to $15.6 million.
Despite falling sales volumes, market participation metrics paint a more optimistic picture. The number of NFT buyers surged 70.97% to 350,146, while sellers increased 68.57% to 225,465. Total transactions also rose 16.90% to nearly 1.7 million.
In the project rankings, Courtyard maintained its leading position with $11.5 million in sales, though experiencing a 6.95% decline. DMarket claimed second place with $10.4 million, posting a 4.44% gain. The notable performer was Guild of Guardians Heroes, securing third place with $5.6 million - a remarkable 159.46% increase.
The week's highest-value sale was CryptoPunks #6634, fetching $431,243. Other notable transactions included Azuki #641 at $209,021 and several Autoglyphs selling for approximately $190,000 each.
This market downturn occurs against the backdrop of a relatively stable crypto market, with Bitcoin trading near $84,000 and Ethereum holding around $1,900, while the global crypto market cap inches up to $2.77 trillion.