Ethereum-Based NFT Market Shows Resilience Amid Mixed Sector Performance
Despite a slight decline in unique buyers and sellers, DMarket on the Mythos blockchain led weekly NFT sales with $10.1 million, showcasing robust demand for digital assets. Meanwhile, Polygon’s Courtyard faced significant drops, highlighting the volatile nature of the NFT market.
DMarket Leads Weekly NFT Sales Amid Mixed Performance Across Collections
DMarket, operating on the Mythos blockchain, dominated NFT sales this week with $10.1 million traded across 278,553 transactions. Despite a 7.7% drop in unique buyers and 6.8% fewer sellers, the platform posted an 8.3% sales increase—a testament to resilient demand for its digital assets.
Polygon-based Courtyard claimed second place with $5.6 million in volume, though its metrics plummeted sharply. Sales cratered 72.4% week-over-week as transaction counts fell 68.4%, with buyer participation nearly halving at a 58.8% decline.
Ethereum’s CryptoPunks rounded out the top three, notching $4.3 million in sales. The blue-chip collection saw explosive growth—a 150% surge in both trading volume and transaction activity—signaling renewed institutional interest in legacy NFT projects.
Term Finance Recovers $1M After Oracle Bug Triggers Erroneous Liquidations
Ethereum-based lending platform Term Finance has clawed back nearly $1 million following a misconfigured price oracle that forced $1.6 million in faulty liquidations. The incident occurred in its Treehouse (tETH) market after a newly integrated ETH oracle fed incorrect pricing data into the system.
Term Finance clarified via social media that this was not a security breach—no smart contracts were exploited, and no users suffered attacks. The debacle stemmed purely from a technical misconfiguration. The event underscores the fragility of oracle dependencies in DeFi ecosystems, where minor errors can cascade into seven-figure losses.
While half the lost funds remain unrecovered, the swift response highlights the protocol’s risk management priorities. This episode joins a growing list of DeFi incidents demonstrating how infrastructure reliability remains crypto’s unsung battleground.
New Ethereum Proposal Could Boost Mainnet to 2,000 TPS, Says Researcher
Ethereum may soon undergo a transformative scaling upgrade. Dankrad Feist, a researcher at the Ethereum Foundation, introduced EIP 9698 on April 27, proposing a 100-fold increase in the network’s gas limit over the next two years. This structured approach could elevate Ethereum’s transaction capacity to 2,000 TPS, marking one of the most significant throughput enhancements since the Merge.
The deterministic growth schedule begins June 1 at epoch 369017, with tenfold increments phased across 164,250 epochs. Feist emphasizes this method ensures predictable scaling while maintaining network stability—a critical consideration as Ethereum competes with high-throughput chains like Solana.
Term Finance Recovers $1M After Oracle Error Triggers $1.6M Liquidation Loss
Ethereum-based fixed-rate lending platform Term Finance has clawed back $1 million of the $1.6 million lost due to a misconfigured oracle that forced erroneous liquidations in its Treehouse (tETH) market. The recovery includes 223.197 ETH ($400,000) recaptured internally and 333 ETH ($600,000) secured through negotiations.
The remaining deficit now stands at 362.03 ETH ($650,000), a sharp improvement from the initial 918 ETH impact. Term Finance emphasized the incident stemmed from a bug in an updated ETH oracle—not a security breach—dispelling concerns raised by analysts.
