5 Minutes
NFT Market Posts Third Straight Week of Growth
The NFT market registered an 8.13% increase in sales volume this week, climbing to $129.1 million despite broader crypto weakness. Data from CryptoSlam shows that this marks the third consecutive week of gains for NFT trading activity, driven primarily by a surge in market participation even as overall transaction counts dipped.
Buyers and Sellers Surge While Transactions Fall
Market participation expanded sharply: NFT buyers jumped 112.37% to 587,381, while NFT sellers rose 140.76% to 496,112. At the same time, total NFT transactions decreased by 7.99% to 2,088,311. The divergence between active market participants and transaction volume suggests more wallets are entering the NFT ecosystem, even if individual transaction frequency slowed.
Blockchain Rankings: BNB Chain Climbs to Second
Ethereum retained the top spot by sales volume with $45.2 million, but saw only modest growth of 1.49%. Notably, wash trading on Ethereum declined by 10.26% to $8.9 million, indicating slightly cleaner trading activity on the network.
BNB Chain surged into second place with $25.5 million in NFT sales, a dramatic 197.21% increase week-over-week. Base moved into third with $13.7 million (down marginally by 0.02%), while Mythos Chain held fourth at $11.0 million (down 11.11%). Bitcoin-based NFTs came in fifth with $7.8 million, down 25.73%.
Other blockchains in the top eight included Immutable at $6.3 million, Solana at $5.2 million, and Polygon with $4.1 million. Buyer counts rose across many chains, led by Ethereum (129.93% growth), Solana (38.59%), and BNB Chain (10.49%).
What This Means for NFT Investors and Collectors
The increase in unique buyers and sellers is a bullish signal for long-term NFT interest, even if short-term price action in major cryptocurrencies remains volatile. With Bitcoin and Ethereum prices softening — Bitcoin near $119,000 and Ethereum around $4,000 — some collectors appear to be reallocating capital into NFTs or entering the market for the first time.
Top Collections and Notable Sales
Vesting NFT on BNB Chain led collection rankings with $17.9 million in sales, largely driven by concentrated activity from a single seller interacting with 22 buyers. Other top collections included DX Terminal on Base ($8.6 million), DMarket ($5.9 million), and Moonbirds ($5.5 million), which saw a healthy 30.44% increase.
Pudgy Penguins returned to the top eight with $3.4 million in sales, a modest recovery of 15.21% week-over-week. Panini America reported a strong rise of 40.19% to reach sixth place.
High-Value Transactions This Week
The week’s high-ticket NFT sales included several CryptoPunks and other blue-chip assets:
- CryptoPunks #9286 — 48.97 ETH (~$220,299)
- CryptoPunks #6482 — 48.89 ETH (~$218,454)
- CryptoPunks #2406 — 48.85 ETH (~$217,892)
- BOOGLE — 950 SOL (~$205,400)
- CryptoPunks #3091 — 48 ETH (~$201,125)
These headline sales underscore that demand for rare digital collectibles and legacy blue-chip NFTs remains robust, helping lift overall market sentiment.
Macro Context: Crypto Market Cap and Price Pressure
The broader crypto market cap has eased to roughly $3.78 trillion from $4.04 trillion last week, reflecting downward pressure on major coins. Despite the pullback in Bitcoin and Ethereum prices, NFTs continue to attract new participants and meaningful capital, particularly across alternative chains like BNB Chain and Base.
Outlook for NFT Market
Short-term volatility in token prices may continue, but the expanding buyer and seller base is a positive structural sign for the NFT ecosystem. Investors and collectors should monitor chain-specific volume trends, collection concentration, and wash trading indicators when evaluating market health. As cross-chain activity grows, NFT marketplaces and collections on non-Ethereum chains will be important areas to watch for liquidity and new trading opportunities.
Overall, the weekly rise to $129.1 million in NFT sales shows the market’s resilience and evolving landscape — with BNB Chain’s breakout performance and Pudgy Penguins’ modest rebound among the notable developments this period.
Source: crypto
Comments