The NFT market has witnessed a 14.97% fall in sales over the past week, marking the third consecutive week of downturns, yet the ecosystem's resilience is under the microscope as participation numbers climb.
Bitcoin (CRYPTO:BTC) NFTs led the sales value despite a 3.8% drop, with the overall market seeing a notable increase in both buyers and sellers, suggesting a growing interest amid declining sales figures.
Ethereum (CRYPTO:ETH) and Solana (CRYPTO:SOL) experienced significant sales drops of 26.39% and an undisclosed percentage, respectively, while Mythos Chain bucked the trend with a slight increase, showcasing the varied impact across different blockchains.
The market dynamics saw Uncategorized Ordinals as the top-selling NFT collection, despite a sharp 43% sales decline, and an Ethereum-based NFT fetching the highest sale price of the week at $346,089.
The current state of the NFT market reflects a complex landscape of adaptation and evolution, with certain collections and blockchains demonstrating resilience and growth potential amid broader sales declines.