Despite a significant drop in overall NFT market volume, some collections are defying the trend with unexpected gains. According to the latest figures from CryptoSlam, the total sales volume across the NFT market fell by 28.42% over the week, landing at $98.18 million. This marks a steep decline compared to the previous week’s total. Yet, amidst the downturn, notable collections like Bored Ape Yacht Club (BAYC) are experiencing a robust resurgence, with BAYC sales skyrocketing by an impressive 108.47%, reaching $5.22 million.
Interestingly, while monetary volume dipped, user engagement in the market actually rose. The number of active NFT buyers surged 22.86% to 626,341, while sellers increased by 13.54%, totaling 469,316. However, the total number of transactions dropped slightly by 5.08%, now standing at 1,458,311.
Among NFT collections, DMarket, which operates on the Mythos blockchain, remains the top performer in terms of sales despite a 34.09% weekly decrease. It recorded $5.92 million across 209,894 transactions, with 17,852 buyers and 13,838 sellers. Following closely is DX Terminal on the Base blockchain, reporting $5.62 million in sales — down 18.23% from the previous week — and conducting nearly 295,000 transactions.
Bored Ape Yacht Club’s remarkable recovery has pushed it to the third spot in the rankings. The Ethereum-based collection saw a total of 180 transactions involving 115 distinct buyers and sellers, more than doubling its sales volume from the prior week.
Other collections also posted gains. Pudgy Penguins climbed to fourth place with $4.85 million in sales, marking a 21.07% increase, while Guild of Guardians Heroes on Immutable-Zk took fifth place with $3.88 million, up 11.11%. CryptoPunks made a strong return to the top six, jumping 49.48% to $3.79 million despite only 21 transactions, highlighting its high average transaction value.
On the blockchain level, Ethereum continues to dominate the NFT ecosystem. Sales on the Ethereum network climbed 19.72% to $41.72 million, excluding $3.59 million in wash trading, which brings its total volume to $45.31 million. The number of buyers on Ethereum rose by 14.66% to 54,401, reinforcing its leading position.
Bitcoin held its place as the second-largest blockchain by NFT sales, although it experienced a decline of 11.47%, ending the week at $11.55 million. Interestingly, the number of buyers on the Bitcoin network jumped 36.06% to 18,316, suggesting growing interest despite the monetary drop.
Base blockchain ranked third with $10.36 million in sales, a modest 7.34% increase. However, it also reported $4.93 million in wash trading. Its buyer base expanded by 7.92%, reaching 277,561 users. Immutable (IMX) followed in fourth with $6.56 million, up 12.54%, and saw a 32.75% surge in buyers to 7,981.
Solana continued its upward trajectory, securing fifth place with $6.16 million in sales — a 30.28% increase. It attracted 40,011 buyers, a 30.29% gain week-over-week. Meanwhile, Mythos Chain fell to sixth place after a significant 33.27% drop, totaling $6.09 million. Nevertheless, its user base expanded by 39.03% to 46,981 buyers.
BNB Chain wrapped up the top seven with $5.25 million in sales, a slight 3.76% decline. However, the number of buyers jumped 33.18% to 43,642, indicating rising participation despite the drop in overall volume.
The divergence between declining overall sales and growing user engagement suggests a shift in market dynamics. Rather than high-value, low-frequency trades, the NFT space may be experiencing a democratization with more users entering the space at lower price points. This could reflect increased accessibility or a growing interest in niche or emerging collections.
BAYC’s dramatic comeback is particularly noteworthy, especially considering its past dominance and recent slump. The rebound may indicate renewed investor confidence or internal developments such as community initiatives, upcoming events, or ecosystem updates that have reignited interest.
Another key insight is the continued strength of Ethereum as the primary infrastructure for high-value collections like BAYC and CryptoPunks. Despite rising gas fees and competition from faster, cheaper chains like Solana and Base, Ethereum’s prestige and established user base continue to anchor its dominance.
The data also highlights the growing importance of wash trading metrics for understanding true market value. With several blockchains showing millions in artificial volume, analyzing net sales versus wash trades becomes essential for accurate market assessment.
Moreover, the increase in buyers across most major blockchains suggests that NFTs may still be attracting new participants, possibly due to innovative use cases such as gaming, digital identity, and collectibles tied to real-world benefits.
Looking ahead, the NFT market appears to be transitioning from a speculative bubble into a more utility-driven phase. While headline figures like total volume may fluctuate, the underlying growth in user numbers points to long-term adoption trends.
In summary, although NFT sales volume has contracted sharply this week, the ecosystem continues to evolve. Bored Ape Yacht Club’s resurgence, Ethereum’s strengthened lead, and rising buyer participation on multiple blockchains all paint a complex but cautiously optimistic picture of the current NFT landscape.