The NFT market has experienced a sharp drop, with sales volume falling by 18.43% to $116.9 million.
According to data from CryptoSlam, this marks a reversal from the previous week’s strong performance.
Bitcoin (BTC) price has dropped to $103,000. At the same time, Ethereum (ETH) has dropped 4% in the last seven days. The global crypto market cap is now $3.21 trillion, down from last week’s $3.29 trillion.
Despite the sales decline, market participation metrics show mixed results. NFT buyers remain flat at 1,061,348 (50.56% growth maintained), and NFT sellers rise by 8.09% to 38,494. NFT transactions have decreased slightly by 0.63% to 1,709,086.
Immutable retains its top position
Immutable (IMX) has retained its top position but with reduced sales of $28.3 million, falling 32.23% from the previous week. The blockchain’s wash trading has nearly disappeared, dropping 81.19% to just $3.
