NFT Bubble Bursting? Sales Crash 33% to $119 Million
The NFT market experienced a significant downturn this week, with sales plummeting 33% to $119.49 million, according to cryptoslam.io.
Buyer and seller numbers decreased by over 94%, though transaction volume remained relatively stable at 1.44 million NFTs. Ethereum NFTs led the decline, dropping 38% to $62.71 million, despite a single Ethereum NFT, f(x) wstETH position #373, selling for over $800,000.
While Solana and Bitcoin NFT sales also decreased substantially, Polkadot’s Mythos bucked the trend, achieving the second-highest sales volume at nearly $14 million. Pudgy Penguins remained the top collection, despite a 37% drop in sales, followed by Mythos’ Dmarket.
Clever Robot News Desk 11th February 2025
