NFT Market Sees Significant Decline in Weekly Trading Volume

According to PANews, the NFT market experienced a notable decrease in trading volume over the past week, with a 30.73% drop to $95.8 million, as reported by Crypto.news. Despite this decline, the number of NFT buyers increased by 22.82%, reaching 626,234, while the number of sellers rose by 13.54% to 469,316. However, the total number of NFT transactions fell by 5.08%, totaling 1,458,311. In terms of network-specific performance, the Ethereum network saw a 12.94% increase in trading volume, reaching $40.28 million. Conversely, the Bitcoin network experienced a 12.12% decrease, with trading volume falling to $11.52 million. The Base network recorded an 8.73% increase, with a trading volume of $10.09 million. This week, several high-value NFT transactions were noted. CryptoPunks #8407 was sold for $413,469.94 (100 ETH), Bored Ape Yacht Club #3105 fetched $359,769.63 (90 ETH), and V1 Cryptopunks Wrapped #4350 was sold for $248,839.14 (62.9 ETH). Additionally, Autoglyphs #256 sold for $222,558.91 (59 WETH), and CryptoPunks #7378 was purchased for $212,360.44 (51 ETH).