NFTs are like embellishments; when the market is good, people have extra money to spend and buy NFTs indiscriminately, but when the market is bad, they are cast aside.

In the past week, NFT trading volume dropped by about 50%, with Pudgy Penguins experiencing a 76.65% decline.

According to CryptoSlam data, the NFT market saw a significant correction over the past week, with total sales down 49.77% to $152.7 million. However, market participation indicators show continued interest from both new and old traders:

-NFT buyers increased by 50.97%, reaching 531,208;

-NFT sellers increased by 47.14%, reaching 308,666;

-The number of NFT transactions decreased by 13.26%, totaling 1,477,340;

-NFT sales significantly declined from last week's $302.2 million.

Ethereum NFT sales fell by 62% to $75.3 million; buyers reached 63,054, an increase of 42.91%; Bitcoin NFTs followed a similar trend, with sales down 30% to $28 million. However, the network saw strong user growth, with the number of buyers at 59,311, an increase of 52.13% compared to the previous period.

Solana NFT sales decreased by 58.71% to $13.9 million, still maintaining third place, with the number of buyers at 180,111, an increase of 68.43%.

Pudgy Penguins sales plummeted by 76.65% to $12.6 million, with the number of transactions decreasing by 71.82% and buyer engagement dropping by 69.92%; Azuki sales fell by 41.94% to $9.3 million, ranking second; BRC-20 NFT sales dropped to third place at $6.5 million, a decline of 30.68%.