NFT sales have nosedived this week, plunging by 42.42% to $93.18 million, down from $161.7 million the previous week, according to the latest CryptoSlam data. Despite the sharp fall in total volume, participation across the market actually increased, with more buyers and sellers entering the space.
Buyers Up 33%, Sellers Up 21%
While sales fell dramatically, the number of NFT buyers surged 33.09% to 509,668, and sellers climbed 21.04% to 413,225, suggesting that retail and smaller-scale participation remains healthy.
Overall NFT transactions dropped slightly — down 7.63% to 1.54 million — but the data indicates a broader base of active users even amid declining volumes.
Meanwhile, the broader crypto market saw renewed strength, with Bitcoin rebounding to around $111,000 and Ethereum reclaiming $3,900. The global crypto market cap rose to $3.75 trillion, up from $3.62 trillion last week.
Top NFT Collections: DMarket Leads, Pudgy Penguins Tumble
On the collections leaderboard, DMarket on the Mythos blockchain claimed the top spot with $9.05 million in weekly sales — a 12.11% increase from $8.07 million last week. DMarket recorded 286,645 transactions, with 19,577 buyers and 15,873 sellers.
DX Terminal on Base ranked second, generating $7.56 million, down 20.58% week-over-week.
However, the biggest shock came from Pudgy Penguins, which plunged 76.27% to $3.8 million, compared with $15.61 million the previous week. The Ethereum-based collection logged only 128 transactions, reflecting a steep drop in investor activity and liquidity.
Other top performers included:
- Guild of Guardians Heroes (Immutable-Zk) — $3.45 million, up 41.06%
- $ATMC (BRC-20 NFTs) — $3.21 million, up 38.3%
- Unnamed BRC-20 NFTs — $2.9 million, up 57.5%
Ethereum Retains Lead, But Volume Collapses
By blockchain, Ethereum remained the market leader, recording $35.04 million in NFT sales — a 65.64% decline from the prior week’s $102.67 million. Including $4.06 million in wash trading, Ethereum’s total reached $39.10 million.
Even so, the number of Ethereum NFT buyers jumped 41.05% to 47,352, signaling continued engagement from collectors despite the slump in high-value trades.
Bitcoin NFTs rose to second place with $13.17 million in sales — an 11.14% increase from $10.11 million — supported by 13,462 buyers, up 60.49%.
Other chains ranked as follows:
- Base: $10.19 million (down 19.8%), with $4.9 million in wash trading.
- Mythos Chain: $9.27 million (up 13.52%), buyers up 42.9%.
- Immutable (IMX): $5.73 million (up 41.05%), buyers up 40.96%.
- BNB Chain: $5.33 million (down 19.62%), buyers up 52.26%.
- Solana: $4.92 million (down 6.23%), buyers up 40.36%.
Record-Breaking ‘Good Deed’ NFT Sale Shocks Market
Despite the overall downturn, one sale stood out: a Good Deed NFT shattered records with a $44.89 million transaction (70.2 million ADA) just one day ago — one of the largest NFT sales in months.
Other notable high-value trades included:
- Known Origin #264609 — sold for $246,984 (63.8 ETH)
- CryptoPunk #7839 — sold for $174,846 (44.99 ETH)
- CryptoPunk #7378 — sold for $173,119 (45 ETH)
- CryptoPunk #7461 — sold for $167,646 (42 ETH)
Market Outlook: Activity Up, Value Down
Analysts suggest that while transaction volume is falling, the rising number of participants indicates renewed grassroots interest — possibly driven by lower prices, easier access, and cross-chain expansion.
However, the steep drop in Ethereum-based blue-chip collections like Pudgy Penguins points to a maturing market struggling to sustain speculative momentum.
Still, the NFT ecosystem continues to evolve, with Bitcoin and Mythos showing unexpected resilience and record-setting single-item sales proving that top-tier digital art remains in high demand.
