Ethereum leads as Polygon surges NFT sales decrease by 12

The NFT market is in a state of decline, with sales dropping by 12% in the past week, and 16% the week before that. According to CryptoSlam, over the last seven days, total sales amounted to just under $100 million, involving more than 785,000 buyers and sellers in 1.4 million transactions. Ethereum remains the leading blockchain for NFT sales, with transactions valued at $38.4 million. Ethereum experienced a notable surge in wash trading last week, seeing an increase of almost 9.5% to $37.69 million. Meanwhile, Polygon’s sales increased by 11.2%, surpassing the Bitcoin network and securing the second position. Wash trading on Polygon saw a significant rise of 46% to $14.9 million, almost double the amount recorded previously. Bitcoin dropped to third place in sales volume, experiencing a 40% decrease in sales, with wash trading increasing by almost 200%. Solana maintained its position as the fourth-highest sales volume blockchain, while Immutable dropped to #6 after Mythos Chain overtook it with nearly $4.5 million in sales. Notable performances were seen from Zora, BNB Chain, and Panini, with sales volume on Zora increasing by more than 50%, and Panini recording a 22% jump to earn $135,000. Among NFT collections, CryptoPunks made a comeback and became the top-selling NFT collection of the week with a 155% increase in sales volume, followed by DMarket and Bored Ape Yacht Club (BAYC). In terms of individual pieces, the most expensive NFT of the week came from Ethereum, with a price tag of $204,066. Fan token sales surged with the ongoing international soccer tournaments in Europe and the Americas. Galatasaray’s fan token recorded the highest sales volume, jumping an incredible 70,149% to $280.5 million, with the token price also up 2,542%. Sales of FC Barcelona, PSG, and Juventus fan tokens also saw significant increases.