NFT Sales Plunge to $129.6M as Pudgy Penguins Jump 63%

NFT Market Faces Decline The non-fungible token (NFT) market continued its downward trajectory, with sales volume dropping 8.53% to $129.6 million, according to CryptoSlam data. Despite the decline in sales, market activity rose, with buyers increasing 18.06% to 541,831 and sellers up 17.05% to 385,179. Total NFT transactions climbed 11.96% to 1,814,788. The slump reflects the broader crypto market’s weakness. Bitcoin slipped to $108,000, while Ethereum dropped to $4,300. The total global crypto market cap stands at $3.75 trillion, down from $3.98 trillion last week. Ethereum Leads, Polygon Surges Ethereum maintained its dominance with $54.5 million in sales, though this marked an 8.24% weekly drop. Wash trading on Ethereum spiked 42.68% to $20.1 million. Polygon secured second place with $18.9 million in sales, representing a 16.12% increase. BNB Chain followed with $13.4 million, suffering a 34.77% decline. Immutable registered $6.8 million in sales, down 4.95%, while Solana posted $5.7 million, a steep 20.44% fall. Buyers Surge Across Blockchains Despite lower volumes, the number of buyers surged across most blockchains. Solana led with 39.47% growth, followed by Polygon at 42.66% and Bitcoin at 31.55%. On the collection side, Courtyard on Polygon retained the top spot with $17.6 million in sales, rising 19.44%. CryptoPunks fell to second with $7.1 million, down 17.95%. Pudgy Penguins Shine Pudgy Penguins jumped into third place with $5.2 million in sales, a remarkable 63.39% surge. The collection showed growth across all metrics: transactions surged 89.66%, buyers rose 60%, and sellers increased 46.81%. Other top collections included DMarket with $5.1 million, Moonbirds at $4.4 million, and SpinNFTBox on BNB Chain at $4.2 million. Notable High-Value Sales This week saw several large NFT sales, particularly within the CryptoPunks collection: CryptoPunks #4619 sold for 96 ETH ($446,764) CryptoPunks #2400 sold for 73.5 ETH ($324,076) CryptoPunks #5273 sold for 65 ETH ($283,399) CryptoPunks #1721 sold for 60 ETH ($274,171) CryptoPunks #6373 sold for 55 ETH ($261,046)