NFT Market Experiences Slight Decline Amid Increased Participation

According to PANews, recent data from CryptoSlam indicates a slight decline in the NFT market over the past week, with transaction volumes decreasing by 0.05% to $129.8 million. Despite this, market participation has increased, with the number of NFT buyers rising by 61.18% to 443,548, and sellers increasing by 31.87% to 199,129. Additionally, the number of NFT transactions grew by 15.39%, reaching 1,697,343. The Ethereum network maintained its lead with $29.6 million in sales, although this represents a 26.22% decrease from the previous week. The Avalanche network surged to second place with $22.3 million in transactions, marking a 202.92% increase. The Polygon network followed in third place with $21.3 million, achieving a 45.98% growth. Meanwhile, the Bitcoin network fell to fourth place with $18.2 million in sales, a 21.85% decline from the prior week. Notable high-value transactions this week included the sale of CryptoPunks #3609 for 440 ETH ($1,089,338), CryptoPunks #2537 for 80 ETH ($197,242), CryptoPunks #2542 for 59 ETH ($155,440), CryptoPunks #6479 for 58.4 ETH ($149,478), and CryptoPunks #7161 for 53.69 ETH ($142,816).