Weekly NFT Trading Volume Drops 18.4% as Immutable Falls 32%
NFT market activity slowed significantly last week, with total trading volume falling 18.43% to $116.9 million. Buyer count held steady at 1,061,348, while seller numbers rose 8.09% to 38,494. Overall transaction count dipped slightly by 0.63% to 1.709 million trades. Immutable’s network volume slid 32.23% to $28.3 million, losing ground as Polygon surged 24.98% to $23.3 million and overtook Ethereum’s $20.4 million (down 32.06%). Mythos Chain remained fourth with $14.1 million (−0.03%), and Solana climbed 42.74% to $8.7 million. Top high-value NFT sales included CryptoPunks #1831 at 150 ETH ($389,846) and #9778 at 150 ETH ($377,958).
Bearish
A broad 18.4% drop in NFT trading volume signals reduced market interest and liquidity, typical of bearish phases. Immutable’s 32% slide and Ethereum’s 32% decline underscore headwinds across major platforms. Although Polygon and Solana saw gains, they were insufficient to offset overall contraction. Historically, similar volume pullbacks have preceded further price and confidence declines among NFT assets, suggesting continued caution in the short term. Long term, emerging networks may benefit if innovation drives renewed demand, but current metrics point to a bearish outlook.