NFT Market Posted Mixed Signals This Week as Trading Volume Declined While Buyer and Seller Numbers Surged

The past week revealed an intriguing paradox in the NFT market: while overall transaction volume contracted, the number of active participants expanded significantly. According to data from CryptoSlam shared by Crypto.news and reported by PANews on December 28th, NFT market trading volume declined 4.72% to $63.52 million over this seven-day period. However, the market witnessed robust growth in participation metrics, with buyer numbers climbing 27.24% to 303,404 and seller numbers increasing 25.91% to 213,831, marking notable week-over-week expansion in market participants despite the volume contraction.

Network Performance Diverges Across Major Blockchain Platforms

The week’s activity distribution revealed significant disparities across leading NFT blockchains. Ethereum network remained dominant but posted the largest decline, with transaction volume dropping 24.86% to $20.41 million. Bitcoin network demonstrated strength this week, surging 52.64% to $12.02 million in NFT transaction value. BNB Chain saw modest pressure with a 9.78% decline to $7.8 million, while Polygon network bucked the broader trend with a 16.18% weekly increase to $5.65 million. Overall NFT transaction counts decreased 7.36% during the period, suggesting fewer but potentially larger individual transactions.

Premium NFT Sales Continue to Drive Market Headlines This Week

High-value transactions underscored the number and quality of elite NFT trades occurring in the market. Notable sales during this week included the X@AI BRC-20 NFT selling for an impressive $1.92 million (equivalent to 21.7344 BTC), demonstrating significant demand for Bitcoin-based digital assets. In the Ethereum-based segment, CryptoPunk #8408 commanded $118,176.63 (39 ETH), while CryptoPunk #8476 fetched $110,904.23 (36.6 ETH), reinforcing the enduring collector interest in these iconic NFT collections within the week’s trading activity.