NFT Market Sees Sharp Decline in Dollar Volume Amid Increased Trading Activity

The NFT market experienced a sharp decline in dollar volume over the past week, dropping by 23.48% to $40.88 million.

This downturn was accompanied by an increase in buyer and transaction counts, indicating smaller, more frequent trades rather than a broad retreat from the space.

Ethereum led all blockchains with $17.08 million in sales despite a 42.01% weekly decline, while Polygon grew 12.89% to $8.21 million.

Panini America's NFT sales surged by an impressive 557.53% to $1.87 million, propelling it into the top eight blockchain rankings.