NFT trading volume fell by approximately 50% in the past week, with Pudgy Penguins trading volume falling by 76.65%

PANews reported on December 29 that according to Crypto.news, CryptoSlam data showed that the NFT market experienced a sharp correction in the past week, with the total transaction volume plummeting 49.77% to US$152.7 million. Despite the sharp decline in trading volumes, market participation indicators show continued interest from new and existing traders. The number of NFT buyers increased by 50.97% to 531,208, and the number of NFT sellers increased by 47.14% to 308,666.

Ethereum network NFT transaction volume fell 62% to $75.3 million. Despite the decline in transaction volume, the network still had 63,054 buyers, an increase of 42.91%. Bitcoin network NFTs also showed a similar trend, with transaction volume falling by 30% to $28 million. However, the network experienced strong user growth, with the number of buyers reaching 59,311, an increase of 52.13% compared to the previous period. Solana Network NFT maintained its third position despite a 58.71% decline in transaction volume to $13.9 million. The network continues to show strong user engagement, with the number of buyers reaching 180,111, an increase of 68.43%.

Pudgy Penguins trading volume plummeted 76.65% to $12.6 million. All indicators of the project declined, with transaction volume falling by 71.82% and buyer participation falling by 69.92%. Despite a 41.94% decline in transaction volume, Azuki jumped to second place with a transaction volume of $9.3 million. The transaction volume of BRC-20 NFT dropped by 30.68% to third place at $6.5 million.

Notable deals this week include:

• Azuki #3535 sold for $427,000 (125 ETH)
• CryptoPunks #6797 sold for $159,792 (49 ETH)
• CryptoPunks #3017 sold for $156,815 (47 ETH)
• CryptoPunks #704 sold for $156,488 (46 ETH)
• CryptoPunks #5792 sold for $155,949 (45.9849 ETH)