NFT Market Sees Decline In Trading Volume But Rise In Participants

The NFT market is experiencing an interesting shift—trading volume is down, but participation is up. According to CryptoSlam (via PANews), NFT trading volume dropped 35.15% over the past week to $112.7 million, yet the number of buyers skyrocketed 624.41% to 203,994, and sellers increased 519.61% to 158,805. This suggests that while high-value transactions have slowed, more people are entering the space.

📉 Ethereum: Trading volume down 41.25% to $56 million, but buyers surged 81.43% to 30,598.
📈 Mythos Chain: Ranked second, with $13.9 million, marking a 4.66% increase.
📉 Solana: Held third place with $11 million, despite a 32.56% decline.
📈 Polygon: Ranked fourth at $8.1 million, up 10.76%.
📉 Bitcoin: Dropped to fifth place, with $6.7 million, a massive 71.42% drop.

Despite the lower total transaction volume, the rise in market participation could signal renewed retail interest, potentially setting the stage for a rebound in NFT demand.

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