NFT Market Experiences Decline in Weekly Trading Volume

According to PANews, the NFT market witnessed a decrease in trading volume over the past week, dropping by 8.53% to $129.6 million, as reported by Crypto.news. Despite the decline in trading volume, the number of NFT buyers increased by 18.06% to 541,831, while sellers grew by 17.05% to 385,179. Additionally, the number of NFT transactions rose by 11.96%, reaching 1,814,788. In terms of network-specific trading volumes, Ethereum recorded $54.5 million, marking an 8.24% decrease from the previous week. Polygon's trading volume increased by 16.12% to $18.9 million. BNB Chain experienced a significant drop of 34.77%, with a trading volume of $13.4 million. Mythos Chain saw a rise of 4.71%, reaching $10.2 million, while Bitcoin's trading volume fell by 30.28% to $7.7 million. High-value transactions during the week included several CryptoPunks sales: CryptoPunks #4619 sold for 96 ETH ($446,764), CryptoPunks #2400 for 73.5 ETH ($324,076), CryptoPunks #5273 for 65 ETH ($283,399), CryptoPunks #1721 for 60 ETH ($274,171), and CryptoPunks #6373 for 55 ETH ($261,046).