NFT Market Stumbles While Ethereum Defies Gravity—Traders Flock to ’Digital Oil’ as JPEGs Sink

Another brutal month for NFT speculators as the market bleeds out—$105.7 million in sales marks a 16.7% nosedive. Meanwhile, Ethereum sales rocket 30% higher, proving once again that crypto’s smart money prefers infrastructure over monkey pictures.

Funny how the ’future of art’ keeps trading like a meme stock while the blockchain beneath it prints serious returns. Maybe those VC-funded NFT platforms should’ve spent less on influencer marketing and more on, you know, actual utility.

Ethereum NFT sales jump 30%

Ethereum strengthened its position with $36.5 million in sales, which jumped 28.43% from the previous week. However, Ethereum’s wash trading decreased by 23.31% to $1.6 million.

Polygon (POL) maintains second place with $15 million in sales, though it experienced a 25.88% decline. Mythos Chain holds the third position with $13.5 million, down 3.39%.

Bitcoin sits in fourth place with $13.2 million and fell 27.10% from last week. Immutable (IMX) has entered the top five with $7.3 million and dropped 15.93%. Solana (SOL) rounds out the top six with $7.2 million and showed growth of 17.78%.

The buyer count has increased across most blockchains, with Polygon leading at 43.72% growth, followed by Solana at 37.39% and Bitcoin at 33.34%.

Courtyard on Polygon retains the top position in collection rankings with $12.4 million in sales. However, it saw a 13.91% drop. The collection has seen a surge increase in sellers, up 1,196.53%.

DMarket is second with $8.3 million, down 5.33%. Guild of Guardians Heroes is third with $5 million, down 14.58%.

A notable newcomer, STRAT Option on Ethereum, has entered the fourth-place rankings with $4.7 million. The collection has experienced notable growth of 18,945,794.34% in sales, with transactions up 2,300% and buyers up 1,900%.

Bitcoin’s BRC-20 NFTs complete the top five with $4.6 million and dropped 24.06%. The collection has seen decreases across all metrics including transactions (17.56%), buyers (24.93%), and sellers (33.22%). Read last week’s NFT sales breakdown.

Notable high-value sales from this week include:

• CryptoPunks #1831 sold for 150 ETH ($389,846)
• CryptoPunks #4868 sold for 76.5 ETH ($201,933)
• CryptoPunks #5586 sold for 70.07 ETH ($185,292)
• CryptoPunks #308 sold for 69 ETH ($174,683)
• CryptoPunks #9494 sold for 66 ETH ($169,021)