NFT Market Experiences Significant Decline in Weekly Trading Volume

According to PANews, the NFT market witnessed a notable decrease in trading volume this week, dropping by 25.78% to $134 million, as reported by Crypto.news based on CryptoSlam data. Despite the decline in trading volume, the number of NFT buyers increased by 25.74% to 450,096, while sellers grew by 25.91% to 321,107. The total number of NFT transactions rose by 6.26%, reaching 1,652,284. The Ethereum network saw a trading volume of $60.7 million, marking a 41.63% decrease from the previous week. In contrast, the BNB Chain network experienced a 10.63% increase, reaching $20.6 million. Polygon network's trading volume rose by 37.86% to $16.1 million, while Mythos Chain saw a modest increase of 3.17%, totaling $9.7 million. Solana network's trading volume fell by 13.63%, amounting to $7.5 million. Among the high-value sales this week were several CryptoPunks NFTs: CryptoPunks #1082 sold for 80 ETH ($350,969), CryptoPunks #2596 for 72.99 ETH ($315,628), CryptoPunks #5477 for 66 ETH ($285,187), CryptoPunks #3704 for 63 ETH ($271,922), and CryptoPunks #8864 for 56.5 ETH ($269,994).