After weeks of steep declines in participation, the non-fungible token (NFT) market is showing early signs of stabilization, buoyed by a broader crypto rebound.
While overall buyer and seller activity has plunged nearly 70%, transaction volumes are creeping higher, and specific blockchains and collections are breaking out with double-digit growth.
At last check on Saturday, Bitcoin (BTC) topped $115,800 — up 5.2% over the past seven days — and Ethereum (ETH) hovered above $4,600, up 9.1% for the week.
According to data from CryptoSlam, this marks the first positive growth in several weeks following a series of declines.
Market participation has contracted sharply, with NFT buyers falling by 69.84% to 180,693, and NFT sellers declining by 70.87% to 123,713. NFT transactions have increased by 2.60% to 1,754,295.
Ethereum has surged to the $4,700 level. The global crypto market cap is now $4.07 trillion, up from last week’s market cap of $3.81 trillion.
The buyer count declined across all blockchains, with BNB Chain leading at 84.35% growth as the only platform posting gains. At the same time, others saw drops ranging from 65% to 80%.
