Are obese penguins declining?

The NFT market turned higher despite weak cryptocurrency prices, with Bitcoin falling 3% to $94,000, and Ethereum falling sharply 9% to $3,200.

Although the broader cryptocurrency market cap has shrunk to $3.3 trillion from a market capitalization of $3.5 trillion last week, the NFT market is turning positive.

according to CryptoSlam According to the data, NFT sales volume rose 10.70% to $155.4 million this week. The rise in total sales comes alongside a noticeable decline in market participants, indicating larger deals from fewer buyers.

The weekly metrics are as follows:

NFT sales volume rose to $155.4 million from $132.7 million last week
NFT buyers fell 81.79% to 122,806
NFT sellers fell 73.24% to 104,090
Transactions increased by 0.16% to 1,483,044

Blockchain networks are showing mixed results

Ethereum (Ethereum) NFT sales grew 13.09% to $61.9 million, despite the number of buyers falling 65.62% to 24,836. Wash trading on the network increased by 76.73% to $25.1 million.

Bitcoin (Bitcoin) NFTs saw modest growth, with sales up 1.97% to $30.8 million. The number of network buyers decreased by 87.15% to 8,665.

NFT sales rise to $155 million, Pudgy Penguins decline 82% - 1 — Source: Blockchains by NFT Sales Volume (CryptoSlam)

Solana (Sol) sales rose to $20.1 million, up 9.96%. Mythos Chain took fourth place with $12.4 million, up 4.39%. Base entered the top five with $8.4 million, as sales jumped 211.18%.

Pudy Penguins bounce back

Pudgy Penguins had $9.2 million in sales, up 82.32%. The recovery brought more activity, as transactions rose by 50.70% and buyers increased by 67.39%.

BRC-20 NFTs took second place with $8.2 million, an increase of 40.78%. DMarket held steady in third place with $7.2 million, up 8.06%, and maintained high volume with 282,071 transactions.