NFT Volume Rebounds to $106M Amid 70% Drop in Participants
In the past two weeks, NFT trading volume has shown marked volatility. In Week 1, volume fell 22.7% to $104.5 million as total transactions dipped 3.1% to 1.7 million. Despite the slump, active buyers rose 14.9% to 622,535 and sellers increased 16.3% to 447,821. Ethereum-led trading declined 29.9% to $37.7 million, with Polygon, Mythos Chain, BNB Chain, Bitcoin network and Solana all posting weekly drops. Top high-value sales included CryptoPunks #5898 for 100 ETH ($446k). Last week, NFT trading volume rebounded 5.7% to $106 million even as buyers and sellers plunged nearly 70%, highlighting a divergence between value traded and market participation. Total NFT transactions edged up 2.6% to 1.75 million. Ethereum volume softened 4.95% to $34.02 million, whereas Mythos Chain surged 61.1% to $15.5 million and Polygon eased 14.4% to $13.37 million. CryptoPunks remained popular with #2368 at 89 ETH and several other sales above 46 ETH.
Neutral
The mixed signals from consecutive weeks point to a neutral market impact on NFT trading. The initial 22.7% drop in NFT trading volume and declines across major chains signaled weakening demand. However, the 5.7% rebound to $106 million suggests that high-value collectors remain active, even as overall buyer and seller counts plunged. In the short term, traders may see temporary volatility as large drops in participation could widen bid-ask spreads and limit liquidity. Over the long term, the return of volume—especially the surge on Mythos Chain—indicates persistent institutional or whale interest, which may stabilize prices but is unlikely to spark a broad bullish rally without renewed retail engagement.