In the dusty corners of the digital bazaar, the NFT market finds itself in a slow, agonizing descent, much like a weary traveler trudging through the parched fields of California. Bitcoin, that old rascal, has managed to inch its way up to $97,000, while Ethereum clings to its $2,688 like a barnacle on a ship’s hull (see below).
Meanwhile, the broader crypto market has seen a modest recovery, with the total market cap rising to $3.24 trillion from last weekâs $3.13 trillion. A small victory, perhaps, but one that feels like a drop of water in a drought.
New traders show interest despite lower volumes
According to the wise sages at CryptoSlam, NFT sales volume has plummeted to $112.7 millionâa staggering 35.15% decline from the previous week. Yet, like weeds in a garden, new traders are sprouting up, suggesting a curious interest in this digital folly despite the lower overall values.
The market data reveals a curious juxtaposition between volume and participation:
- NFT sales volume dropped to $112.7 million from $119.5 million, like a balloon losing air.
- NFT buyers surged 624.41% to 203,994âperhaps theyâre hoping to catch a falling knife?
- NFT sellers increased 519.61% to 158,805, proving that misery loves company.
- NFT transactions declined slightly by 1.41% to 1,443,007, a minor hiccup in the grand scheme of things.
Ethereum NFT sales volume drops 41.25%
- Ethereum (ETH), the once-mighty leader, saw its sales fall 41.25% to $56.0 million. The networkâs wash trading dropped 78.20% to $12.0 million, though buyer numbers rose 81.43% to 30,598âperhaps theyâre just looking for a bargain.
- Mythos Chain held second place with $13.9 million in sales, up 4.66%. A small triumph in a sea of despair.
- Solana (SOL) maintained the third position with $11 million despite a 32.56% decrease, proving that even the strong can falter.
- Polygon (POL) showed strength in fourth place with $8.1 million, growing 10.76%, like a stubborn weed in a garden.
- Bitcoin (BTC) dropped to fifth with $6.7 million, falling 71.42%. Ouch!
DMarket leads the NFT sales
DMarket has taken the lead with $8.7 million in sales, up 7.98%. The collection maintained strong activity with 322,241 transactions and 24,413 buyers. Courtyard followed with $7.3 million, rising 25.78% and seeing buyer numbers jump 122.44%. Talk about a comeback!
CryptoPunks held third place with $5.2 million despite a 30.01% drop. Pudgy Penguins, once the darlings of the digital world, fell to fourth position with $5.1 million, declining 55.29%. Azuki rounded out the top five with $5 million, down 79.17%. The irony is rich, like a good pie.
The weekâs top sales included:
- Uncategorized Ordinals #8912771: $7,749,449 (80.1296 BTC)
- CryptoPunks #2550: $331,955 (125 ETH)
- CryptoPunks #793: $146,683 (53.5 ETH)
- CryptoPunks #9634: $128,988 (47.5 ETH)
- CryptoPunks #9701: $122,883 (45 ETH)
What happened?
Ah, the glory days of NFTs in 2021 seem like a distant memory, now that the market has become as saturated
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2025-02-15 20:25