NFT trading volume drop from $96M go $85M as buyers and sellers dem comot
Di NFT trade don dey drop for two weeks in a row, e fall by 30.7% to $95.8 million before e fall again by 9.2% to $85.3 million. This wan mean say collectors nor dey show as much interest as before. The number of buyer addresses first climb 22.8% to 626,234 but then e sharply drop 96.8% to 20,349. Seller numbers climb 13.5% to 469,316 before e crash down 95.1% to 23,241. Total NFT transactions gbe small 5.1% down to 1.46 million then drop another 4.2% to 1.405 million trades. Ethereum NFT volume first grow 12.9% to $40.3 million before e fall 15.0% to $33.4 million. Base network activity rise 8.7% to $10.1 million before e drop 27.4% to $7.25 million. Mythos Chain report $7 million trading volume, down by 11.3%. Big NFT sales include CryptoPunks #8407 at 100 ETH ($413K), #8295 at 54.69 ETH ($196K), Bored Ape Yacht Club #3105 at 90 ETH ($360K), Autoglyphs #256 at 59 WETH ($223K), and plenty other CryptoPunks sales.
Bearish
Di di NFT trading volume dey continue to fall, plus buyers and sellers activity sharply drop, e dey show say market demand and liquidity don reduce well well. Ethereum NFT sector wey at first dey grow, don reverse now, e mean say traders dey back off from high-value collectibles. The drop we dey see for layer-2 networks like Base and new chains like Mythos Chain dey show say the market don tire generally. For short term, dis trend go likely put pressure on NFT prices and reduce trading confidence. For long term, the steady low activity fit delay market recovery till new catalysts come, making this development generally bearish for NFT markets and related tokens like ETH.