NFT sales drop to $132m, Pudgy Penguins loses steam

The NFT market cooling continues as the overall crypto market cap has grown to $3.6 trillion from last week’s $3.42 trillion, per CoinMarketCap data.

CryptoSlam data shows that NFT sales have fallen 17.54% to $132.7 million this week. This is considerably lower than last week’s $152 million in sales. However, the market has seen greater participation from traders, pointing to sustained interest at lower price levels.

Market activity shows mixed signals:

NFT sales volume dropped to $132.7 million from last week’s $152.7 million
The number of NFT buyers rose 25.54% to 667,116
NFT sellers increased 23.96% to 382,754
Total transactions fell 16.96% to 1,326,111

Major blockchain networks see mixed results

Ethereum (ETH) NFT sales fell 25.72% to $56 million, though buyer numbers grew 14.35% to 72,241. Wash trading on Ethereum dropped 42.38% to $13.5 million.

Bitcoin (BTC) NFTs moved against the trend, with sales rising 8.38% to $30.3 million. The network attracted 67,423 buyers, a 13.68% increase from the previous week.

NFT sales drop to $132m, Pudgy Penguins loses steam - 1 — Source: Blockchains by NFT Sales Volume (CryptoSlam)

Mythos Chain climbed to third place with $11.8 million in sales, growing 3.63%. Solana (SOL) dropped to fourth position with sales falling 57.91% to $9.4 million, despite having the highest buyer count at 234,220.

Immutable (IMX) rounded out the top five with $8.2 million in sales, up 2.67% with 18,350 buyers.

Collection rankings show major shifts

Azuki has taken the top spot with $9.4 million in sales, growing 3.13% despite lower buyer numbers. DMarket follows with $6.7 million in sales, showing 7.72% growth and maintaining high transaction volume with 240,918 trades.

BRC-20 NFTs hold third place at $5.8 million despite an 11.33% drop. The Guild of Guardians Heroes saw 13.74% growth to $5.7 million, while Pudgy Penguins fell to fifth place with $5.3 million, dropping 57.64% with steep declines in buyers and transactions.