NFT Market Takes a Dive: Who Knew Pixels Could Plummet?

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In a week that felt like the proverbial rollercoaster, the NFT market, with all its glimmer and glamour, recorded a staggering $74.88 million in sales volume. That’s a drop of 38.25%, as if someone had pulled the rug out from under it while it was busy doing the cha-cha.

  • The weekly sales of NFTs took a nosedive of 38% to hit a mere $74.88M, even as more folks decided to join the party.
  • Ethereum, the belle of the blockchain ball, managed to rake in $46.9M, despite stumbling down a steep hill.
  • Bitcoin NFTs? Well, they collapsed by a whopping 71%, as if they were trying to dive deeper than the ocean floor.

As fate would have it, NFT buyers decided to show up in droves, climbing 29.75% to a robust crowd of 242,824, while sellers decided to flex their muscles, jumping 32.02% to 217,181. Transaction volume? Oh, it increased by 8.29%, reaching a staggering 726,723-like throwing a party with no one left to dance.

Meanwhile, Bitcoin (BTC) has taken a tumble to the $83,000 level, while Ethereum (ETH) has slipped beneath the $2,700 mark. The global crypto market cap now stands at $2.83 trillion, down from last week’s lofty $3.02 trillion, like a balloon losing air on a hot summer day.

Ethereum Holds On for Dear Life Despite a 38% Slide

Ethereum, bless its digital heart, continued to hold the crown among blockchains, boasting $46.92 million in NFT sales-though that number saw a sharp 38.78% decline over the past week. It drew in 28,096 buyers, an increase of 18.26% from the prior week, as if people were clinging to their last penny at a yard sale.

Bitcoin, on the other hand, suffered the steepest drop of all major blockchains, securing a second-place finish with $6.46 million in sales-down a staggering 71.12% week-over-week. Yet, the network attracted 10,905 buyers, up a miraculous 30.87% despite the chaos. Talk about perseverance!

BNB Chain (BNB) took home the bronze with $4.95 million in sales, a slip of 34.99%. Meanwhile, Base claimed fourth with $4.24 million, climbing 34.54% and attracting 78,759 buyers-perhaps they thought it was a clearance sale. Immutable (IMX) limped to fifth with $3.26 million, down 12.05%, and Solana (SOL) rounded out the top six with $2.77 million, witnessing a drop of 11.30% compared to last week.

Flying Tulip PUT Keeps Its Crown

In a twist that could rival any plot twist in a Steinbeck novel, Flying Tulip PUT on Ethereum maintained its dominance in the collection rankings, ringing up $22.39 million in sales, despite a plummet of 56.59% from the previous week. It processed 898 transactions from 432 buyers, while sellers surged a whopping 292.31% to 51-because why not?

Moonbirds on Ethereum soared to second place with $3.89 million in sales, exploding 108.91% over the week like popcorn in a hot pan.

With 1,737 transactions, up 538.60%, and 412 buyers increasing by 219.38%, Moonbirds certainly took flight! Pudgy Penguins waddled into third place with $2.28 million in sales, climbing 23.11%. Meld Bank Manager v on Cardano landed in fourth with $2.01 million, thanks to a single transaction-talk about a windfall!

Guild of Guardians Heroes posted $1.93 million in sales, down 16.21%, while CryptoPunks wrapped up the top six with $1.91 million, plummeting 52.35% after last week’s modest recovery.

Cardano NFT Leads High-value Sales

In the week’s most eye-popping sale, Meld Bank Manager v on Cardano snagged a cool $2.01 million (5,907,801.2774 ADA) in a single transaction, which was the entire weekly volume of the collection-impressive, huh?

  • A $X@AI BRC-20 NFT on Bitcoin followed closely with $1.36 million (15.3783 BTC)-the stuff of legends, really.
  • Known Origin #88517 sold for $199,771 (69 ETH), proving that some pixels are worth more than others.

CryptoPunks just couldn’t resist the spotlight, claiming two spots in the top five individual sales.

  • CryptoPunks #8804 sold for $186,431 (63 ETH) just six days ago.
  • CryptoPunks #5405 brought in $185,602 (63.99 ETH) four days back. Talk about a vintage investment!

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2026-01-31 12:49