NFT Sales Plummet Despite Rising Buyer and Seller Numbers

NFT sales volume plummeted by 44.7% to $63.33 million over the past week, despite an increase in buyer and seller addresses on the market.

The decline in NFT transactions was even more pronounced, falling by 14.1%, indicating that activity spread across a larger number of participants but with less trading per address.

Ethereum led sales with $35.56 million, despite experiencing a significant drop of 49%, while Bitcoin followed closely behind with $8.68 million in sales.