The NFT market cools down this week, total sales down 11%

This week, the NFT market recorded a cooling down with total sales down 11% compared to last week, reaching 159.6 million USD. Ethereum still dominates NFT sales, but also recorded a decrease of 24.9% with sales of 50.3 million USD, while Bitcoin ranked second with sales of 44.4 million USD and a decrease of 26.1%. Solana also witnessed a slight decrease of 4.6% with sales of 24.53 million USD. Notably, NFT sales on the Polygon platform increased by 347%, reaching 14.77 million USD, indicating a divergence in performance among different blockchains.

The prominent NFT collections this week include “Uncategorized BRC20” of Bitcoin with revenue of 16 million USD, followed by “MGGA Hat” on Polygon with 11 million USD. The highest-priced NFT of the week is “Uncategorized Ordinal”, sold for 3.79 million USD. This sales volatility reflects the adjustment of the NFT market in the context of the positive recovery of the crypto market, but also indicates a change in preferences and investment trends among buyers.