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The NFT market has turned upward despite crypto price weakness, with Bitcoin falling 3% to $94,000 and Ethereum dropping sharply by 9% to $3,200. Even though the broader crypto market cap has contracted to $3.3 trillion from last week’s $3.5 trillion market cap, the NFT market has turned positive. According to CryptoSlam data, NFT sales volume has climbed 10.70% to $155.4 million this week. The rise in total sales comes alongside a notable drop in market participants, suggesting larger trades from fewer buyers. The weekly metrics are as below: NFT sales volume rose to $155.4 million from $132.7 million last week NFT buyers fell 81.79% to 122,806 NFT sellers dropped 73.24% to 104,090 Transactions inched up 0.16% to 1,483,044 Blockchain networks show mixed results Ethereum (ETH) NFT sales grew 13.09% to $61.9 million, though buyer numbers fell 65.62% to 24,836. Wash trading on the network increased 76.73% to $25.1 million. Bitcoin (BTC) NFTs saw modest growth, with sales up 1.97% to $30.8 million. The network’s buyer count dropped 87.15% to 8,665. Source: Blockchains by NFT Sales Volume (CryptoSlam) Solana (SOL) moved up with $20.1 million in sales, rising 9.96%. Mythos Chain held fourth place with $12.4 million, up 4.39%. Base entered the top five with $8.4 million, jumping 211.18% in sales. Pudy Penguins bounce back Pudgy Penguins enjoyed $9.2 million in sales, up 82.32%. The recovery brought more activity, with transactions up 50.70% and buyers increasing 67.39%. BRC-20 NFTs took second place with $8.2 million, growing 40.78%. DMarket kept steady in third with $7.2 million, up 8.06%, and maintaining high volume with 282,071 transactions. NFT collection rankings: Data from CryptoSlam Guild of Guardians Heroes fell 11.17% to $5.1 million, while Azuki dropped to fifth place with $4.0 million, down 56.58%. Top sales this week included: SuperRare #37380: $474,710 (474,710 USDC) CryptoPunks…

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Filed under: News - @ January 11, 2025 2:25 pm