The NFT space has seen another dip this week, with total sales volume down 4.7% to $94.7 million. This drop marks a continuation of the bearish trend affecting digital collectibles and the larger crypto market.
Meanwhile, NFT participation plunged:
- Buyers: -77.9%
- Sellers: -75.2%
- Transactions: -6.3%
Major cryptos like Bitcoin and Ethereum are also under pressure, dragging the global crypto market cap to $2.63 trillion.
Ethereum Tops Chain Sales Despite Price Dip
Ethereum posted $36.1 million in NFT sales—a 41.3% rise, even as ETH hovered at $1,500.
Other chains:
- Polygon: $17.4M
- Mythos Chain: $14.1M
- Solana: $6.5M
- Immutable: $5.5M
Polygon also topped wash trading charts with $2.6M, a 232% surge, overtaking Ethereum’s $2.5M.
NFT Leaderboard: Courtyard Surges
- Courtyard (Polygon): $15.6M
- CryptoPunks: $9.1M
- DMarket: $8.9M
- f(x) wstETH (Ethereum): $5.8M
- Guild of Guardians Heroes: $3.7M
Standout sale: CryptoPunks #3100 fetched 4,000 ETH ($6.04M), leading the week’s premium trades.
OpenSea to SEC: Clarify NFT Rules
OpenSea wants the SEC to clarify that NFT platforms aren’t exchanges. In a letter to Commissioner Hester Peirce, OpenSea argued that NFT trades occur directly on-chain, without platform custody or brokerage roles.
This move follows the SEC dropping an earlier investigation under new guidance from the Trump administration urging a pause on crypto enforcement.
