The NFT market just executed a textbook degen exit, with sales volume dumping 27.65% to $62.58 million for the week. It seems the only thing rarer than a 10k collection right now is an actual buyer.
CryptoSlam data confirms the carnage. Participation has absolutely cratered, with the number of NFT buyers plummeting by 82.75% to 60,985 and sellers collapsing by 77.69% to 56,228. Transactions also slid 23.64% to 690,550. While Bitcoin (BTC) held steady at $90,000 and Ethereum (ETH) lost the $3,100 level, the NFT floor looks like a ghost town.
Despite the broader market bleeding, CryptoPunks on Ethereum managed to flex, surging 33.58% to $3.59 million to claim the top collection spot. YES BOND on BNB held second at $2.75 million, while Panini America on the Panini blockchain exploded 176.41% to $2.51 million. Meanwhile, TokenVestingPlans on Ethereum posted a massive 3,779.55% surge to land in fifth place with $1.81 million.
On the blockchain leaderboard, Ethereum kept its crown with $26.76 million in sales, essentially flat despite a massive 86% drop in buyers. Bitcoin took the hardest hit, tumbling 65.16% to $10.43 million as buyers evaporated by 86%. Solana and Immutable were the rare exceptions showing green, surging 37.01% and 18.29% respectively.
In the high-stakes jpeg wars, a $X@AI BRC-20 NFT topped individual sales at $1.37 million (15.0069 BTC). However, that’s a drop in the bucket compared to last week’s $17.13 million record. CryptoPunks dominated the rest of the top five, with #7892 taking second place at $529,592.
