cyrpto 132m, drop, loses, NFT, Penguins, Pudgy, sales, steam Mark January 6, 2025 0 Comments

NFT sales drop to $132m, Pudgy Penguins loses steam

The cooling of the NFT market continues as the overall crypto market capitalization increased to $3.6 trillion from last week’s $3.42 trillion, according to data from CoinMarketCap.

CryptoSlam data shows that NFT sales fell 17.54% to $132.7 million this week. This is considerably lower than last week’s $152 million in sales. However, the market saw greater trader participation, indicating continued interest at lower price levels.

Market activity shows mixed signals:

NFT sales volume fell to $132.7 million from last week’s $152.7 million.
The number of NFT buyers increased by 25.54% to 667,116
NFT sellers increased 23.96% to 382,754
Total transactions fell 16.96% to 1,326,111

Major Blockchain Networks See Mixed Results

Ethereum (ETH) NFT sales fell 25.72% to $56 million, although the number of buyers increased 14.35% to 72,241. Wash trading on Ethereum fell 42.38% to $13.5 million.

Bitcoin (BTC) NFTs moved against the tide, with sales up 8.38% to $30.3 million. The network attracted 67,423 buyers, an increase of 13.68% compared to the previous week.

NFT sales drop to $132 million, Pudgy Penguins run out of steam - 1 — Source: Blockchains by NFT sales volume (CryptoSlam)

Mythos Chain rose to third place with $11.8 million in sales, growing 3.63%. Solana (GROUND) fell to fourth position with sales down 57.91% to $9.4 million, despite having the highest number of buyers at 234,220.

Immutable (SMEs) rounds out the top five with $8.2 million in sales, up 2.67% with 18,350 buyers.

Collection rankings show major changes

Azuki took first place with $9.4 million in sales, growing 3.13% despite fewer buyers. DMarket follows with $6.7 million in sales, showing 7.72% growth and maintaining high trading volume with 240,918 transactions.

BRC-20 NFTs are in third place with $5.8 million despite a drop of 11.33%. Guardian Heroes Guild saw growth of 13.74% to $5.7 million, while Pudgy Penguins fell to fifth place with $5.3 million, down 57.64% with a sharp drop in buyers and transactions.