NFT Sales Experience Modest Rebound as Pudgy Penguins Soar 110%

Following an extended period of notable declines in participation, the non-fungible token (NFT) market is starting to exhibit tentative signs of rejuvenation, buoyed by a general increase in the cryptocurrency sector.

While total buyer and seller engagement has plummeted nearly 70%, transaction volumes are slowly rising, with specific blockchains and collections seeing impressive double-digit growth.

As of Saturday, Bitcoin (BTC) reached $115,800, marking a 5.2% increase over the last week, while Ethereum (ETH) stayed above $4,600, reflecting a 9.1% gain for the week.

According to data from CryptoSlam, this marks the first sign of positive growth in weeks, reversing a streak of downturns.

The market has tightened considerably, with NFT buyers decreasing by 69.84% to 180,693 and NFT sellers falling by 70.87% to 123,713. However, NFT transactions have increased by 2.60% to 1,754,295.

Ethereum has surged to around the $4,700 level. The global cryptocurrency market cap has risen to $4.07 trillion, up from $3.81 trillion the previous week.

Mythos Chain Sales Surge Over 40%

The number of buyers has dropped across most blockchains, except for BNB Chain, which recorded an impressive growth of 84.35% as the only platform to show gains. In contrast, other chains have seen declines ranging from 65% to 80%.

• Ethereum leads with $34.1 million in sales, down 7.45% from last week. Wash trading on Ethereum has fallen by 52.47% to $3.1 million.
• Mythos Chain moves to second place with $14.3 million, marking a growth of 41.63%.
• Polygon (POL) drops to third place with $13.6 million, down by 13.82%.
• BNB Chain (BNB) retains fourth place with $10.3 million, up by 7.96%.
• Bitcoin secures fifth position with $9.4 million, increasing by 19.49%.
• Immutable (IMX) climbs to sixth place with $8.7 million, soaring by 69.41%.
• Solana (SOL) rounds out the top seven with $5.5 million, up 12.06%.

Pudgy Penguins Sales Soar 110%

• Courtyard on Polygon maintains the top position in collection rankings with $12.6 million in sales, down 13.81%. This collection has witnessed declines in both buyers (54.79%) and sellers (88.32%).
• DMarket secures second place with $8.9 million, increasing by 83.55%. The gaming marketplace has capitalized on Mythos Chain’s robust performance.
• Guild of Guardians Heroes jumps to third place with $4.8 million, up by 67.68%. The gaming collection has experienced growth in transactions (44.65%) and buyers (29.18%).
• Panini America holds fourth place with $4.6 million, reflecting a 47.89% increase.
• DKTNFT on BNB Chain ranks fifth with $4.3 million, up 8.94%.
• Pudgy Penguins breaks into the top six with $3.2 million, surging 110.52%. The collection has more than doubled its transactions (111.43%) and shown substantial growth in both buyers (20%) and sellers (93.10%).
• Sorare completes the top seven with $3 million, rising by 64.07%. The fantasy sports platform has noted increases in buyers (25.52%) and sellers (5.24%).

This week saw notable high-value sales, including:

• CryptoPunks #2368 sold for 89 ETH ($408,599)
• CryptoPunks #5702 sold for 57.95 ETH ($264,994)
• CryptoPunks #8464 sold for 48.5 ETH ($225,753)
• CryptoPunks #6557 sold for 50 ETH ($220,923)
• CryptoPunks #5935 sold for 46.5 ETH ($216,444)