NFT Market Experiences Significant Decline in Weekly Trading Volume

According to PANews, the NFT market has experienced a notable decline over the past week, with trading volumes dropping by 18.43% to $116.9 million, as reported by Crypto.news. Despite this decrease, the number of NFT buyers remained steady at 1,061,348, maintaining a growth rate of 50.56%. Meanwhile, the number of NFT sellers increased by 8.09%, reaching 38,494. The total number of NFT transactions saw a slight decrease of 0.63%, totaling 1,709,086. The Immutable network's trading volume fell to $28.3 million, marking a 32.23% decrease from the previous week. In contrast, the Polygon network's trading volume rose by 24.98% to $23.3 million, surpassing Ethereum, which dropped to third place with a trading volume of $20.4 million, a decline of 32.06%. The Mythos Chain network maintained its fourth position with a trading volume of $14.1 million, experiencing a marginal decrease of 0.03%. Solana network climbed to fifth place with a trading volume of $8.7 million, reflecting a significant increase of 42.74%. Notable high-value transactions for the week included the sale of CryptoPunks #1831 for 150 ETH ($389,846), CryptoPunks #9778 for 150 ETH ($377,958), CryptoPunks #4868 for 76.5 ETH ($201,933), CryptoPunks #5586 for 70.07 ETH ($185,292), and CryptoPunks #7516 for 60 ETH ($158,378).