The NFT market had a rough week, with total sales volume sliding to $74.88 million — a sharp 38.25% drop compared to the previous seven days. The downturn comes as the wider crypto market also moved lower, putting pressure on digital collectibles across major blockchains.
Despite the fall in sales, activity in the NFT space actually picked up. The number of buyers climbed nearly 30% to 242,824, while sellers rose 32.02% to 217,181. Total transactions increased 8.29% to 726,723, suggesting more users are still engaging with NFTs even as prices and volumes cool off.
The broader crypto market has been under pressure. Bitcoin slipped to around the $83,000 level, while Ethereum fell below $2,700. As a result, the global crypto market cap dropped to $2.83 trillion from $3.02 trillion last week, adding to the cautious mood across digital asset markets.
Ethereum remained the dominant chain for NFTs, even as its weekly sales fell 38.78% to $46.92 million. The network continued to attract strong interest, with 28,096 buyers — up 18.26% from the previous week. Wash trading activity on Ethereum reached $4.94 million during the same period.
Bitcoin-based NFTs, however, saw the steepest decline among major blockchains. Sales on Bitcoin plunged 71.12% to $6.46 million, even though the number of buyers rose nearly 31% to 10,905. This suggests that while interest remains, high-value transactions on Bitcoin NFTs slowed significantly over the week.
BNB Chain ranked third with $4.95 million in NFT sales, down 34.99%, but saw a healthy jump in participation, with buyers increasing 32.03% to 32,721. Base stood out as one of the few bright spots, posting $4.24 million in sales — up 34.54% — alongside an 18.90% rise in buyers to 78,759. Immutable followed with $3.26 million in sales, down 12.05%, while Solana rounded out the top six with $2.77 million, slipping 11.30% week over week.
Among collections, Flying Tulip PUT on Ethereum stayed in the top spot with $22.39 million in sales, though that figure marked a steep 56.59% drop from last week. The collection recorded 898 transactions from 432 buyers, while the number of sellers jumped sharply. Moonbirds surged into second place with $3.89 million in sales, more than doubling its weekly volume. Pudgy Penguins took third with $2.28 million, up 23.11%.
High-value trades still made headlines. The biggest single sale of the week was Meld Bank Manager v on Cardano, which sold for $2.01 million in a single transaction, accounting for the collection’s entire weekly volume. A BRC-20 NFT on Bitcoin followed with a $1.36 million sale, while several CryptoPunks and a Known Origin piece also ranked among the top individual transactions.
Overall, the latest numbers point to a cooling NFT market in terms of dollar value, even as user participation continues to grow — a sign that interest in NFTs isn’t disappearing, but trading behavior is shifting in a softer crypto market.
Also Read: Crypto Micro-Caps Rally as Bitcoin and Ethereum Stall
