Pudgy Penguins Thrive Amid NFT Sales Decline

In a time when the NFT (non-fungible token) market seems to be cooling off, both DX Terminal and Pudgy Penguins are standing out as bright spots. Recent data from CryptoSlam reveals a significant decrease in NFT sales volumes, dropping by 33.56% to $169.7 million, compared to last week's total of $256.9 million.

Key Takeaways

Pudgy Penguins and DX Terminal are performing well despite a significant downturn in the NFT market.
NFT sales volume declined by 33.56%, totaling $169.7 million.
Ethereum remains the top blockchain for NFT sales, followed by Base and Bitcoin.
Specific collections like Pudgy Penguins and DX Terminal have bucked the overall trend, showing sales increases.

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The downturn has heavily affected market participants, with the number of NFT buyers plummeting by 75.68% to 168,946 and sellers down by 73.94% to 152,283. However, certain collections, notably DX Terminal and Pudgy Penguins, have managed to resist this downward trend.

Additionally, Bitcoin's price has receded to around $112,000 after a recent rally, while Ethereum has dipped to $3,700 from its recent highs. The total global market cap for cryptocurrencies has fallen to $3.78 trillion, down from $4.2 trillion last week.

DX Terminal Leads the NFT Collections

DX Terminal, based on the Base blockchain, has emerged as the leader with sales totaling $13.03 million, a remarkable increase of 50.20%. This collection facilitated 570,066 transactions and attracted 169,973 buyers and 168,979 sellers.

CryptoPunks has slipped to the second position with sales of $11.06 million, down 36.92% from last week’s $17.33 million. The Ethereum collection recorded just 48 transactions with 26 buyers and 30 sellers.

In third place, DMarket reports $7.72 million in sales, seeing a slight decline of 3.33% from last week's $7.95 million, with 225,129 transactions recorded.

Pharaoh V3 Non Fungible on Avalanche has surged into fourth place with an impressive $7.34 million in sales, demonstrating a massive jump of 41,365.84%. This collection had 554 transactions with 101 buyers and 38 sellers.

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Moonbirds has fallen to fifth with $7.01 million, down 60.89% from $18.72 million last week, processing 512 transactions involving 205 buyers and 243 sellers.

Pudgy Penguins holds the sixth position with sales of $6.63 million, marking a 16.98% increase from $5.67 million last week, with 172 transactions involving 81 buyers and 97 sellers.

Wrapping up the top seven, Bored Ape Yacht Club recorded $5.30 million in sales, a rise of 90.38%, with 174 transactions executed by 103 buyers and 91 sellers.

Ethereum Holds Its Ground Despite Decline

Ethereum continues to be the leading blockchain for NFT sales, achieving $86.46 million despite a drop of 9.34% from the previous week’s $97.4 million. The network observed $12.46 million in wash trading, bringing its total to $98.92 million. Unfortunately, buyers fell sharply by 81.35% to 19,509.

Base has secured the second spot with $15.56 million in sales, up by 39.75% from last week's $10.92 million. This blockchain recorded $5.29 million in wash trading, but the number of buyers decreased by 66.63% to 95,027.

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Bitcoin has climbed to third place with sales reaching $14.04 million, a rise of 20.92% from $10.97 million last week. However, the number of buyers decreased significantly to 3,188, down 86.51%.

Mythos Chain has come in fourth at $12.86 million, experiencing a slight decline of 2.13% from last week’s $13.07 million. This blockchain attracted 9,568 buyers, down 79.07%.

Avalanche has jumped to fifth place with $10.63 million, demonstrating a remarkable increase of 373.13%. Nevertheless, the blockchain had just 280 buyers, reflecting an 88.49% drop.

Finally, Solana has secured the sixth position with $7.58 million in sales, a marginal increase of 0.81% from last week’s $7.74 million, but with 9,554 buyers, representing a decrease of 83.18%.