This week, the NFT market saw global sales decrease to $88 million, marking a 7.07% decline. Despite the dip in volume, trader participation remained strong, with 700,000 active collectors engaging in 1.6 million transactions across platforms.
Ethereum continues to lead with $30 million in NFT sales, while Solana shows impressive growth, reaching $19 million with a 24% weekly increase. Bitcoin-based NFTs ranked third at $13 million. Standout collections include Solana’s Froganas at $5.7 million and Ethereum’s Bored Ape Yacht Club at $2.9 million in weekly sales.
Industry projections indicate an expected market adjustment through 2024-2025, with sales forecasted to reach $608.6 million by the end of 2025, reflecting the market’s ongoing maturation and evolving dynamics.
NFT Market Weekly Update: Trading Volume Dips Amid Blockchain Shifts
