The Non-Fungible Tokens (NFTs) market is facing a downturn, with sales dropping by over 13% this week.
This decline is part of a broader trend over the past month, contrasting with the impressive growth seen in other sectors. For instance, crypto trading volume hit a record high in March, surging by 108% to reach $2.94 trillion in spot trading volume.
The NFT market saw a decline of 13.72% in sales for the fourth consecutive week. While centralized crypto exchanges enjoyed a record-high trading volume of over $2 trillion in March, driven by Bitcoin’s bullish surge, NFT marketplaces struggled with weekly declines.
Despite the overall market boom, leading blockchains like Bitcoin and Ethereum experienced downturns in Non-Fungible Tokens sales, with Bitcoin-based NFT sales dropping by 18%. Ethereum, Solana, Mythos, and Polygon also faced declines in sales by 12.70%, 4.36%, and 19.7%, respectively. The crypto trading volume reached an all-time high (ATH) in March, with spot trading volume rising by 108% to $2.94 trillion.
It is worth noting that Bitcoin-based NFT sales fell by 17.99% last week, even though they reached over $66 million in seven days. Ethereum sales totaled $63.98 million for the week, dropping by 8.89%.
However, amidst the downturn, top Non-Fungible Tokens collections such as Uncategorized Ordinals and Bored Ape Yacht Club (BAYC) managed to maintain significant sales. In addition, Bitcoin ETFs saw impressive growth, surpassing $12.6 billion in total net inflows, with BlackRock’s IBIT leading with $14.77 billion.
In the last three months of the year, trading volumes for cryptocurrencies like Bitcoin and…
The Pi Network (PI) has plummeted over 75% in the past three months, collapsing from…
Sonora, California, 30th March 2025, ZEX PR WIRE, As humor continues to shape popular culture,…
Singapore, 30th March 2025, ZEX PR WIRE, Recently, the native token UBC issued by the…
Tether is weighing a crucial entry into the U.S. domestic stablecoin market as CEO Paolo…
Ripple has joined forces with African payments firm Chipper Cash to bolster crypto-enabled cross-border payments,…