NFT Market Cools as Avalanche Defies Gravity with 200% Sales Surge

Digital collectibles hit a slowdown—global NFT sales slump to $129.8 million while ’blue chip’ chains like Ethereum flatline. Meanwhile, Avalanche NFTs stage a rebellion with triple-digit growth, proving crypto’s favorite pastime (irrational exuberance) is alive and well.

Wall Street analysts scramble to explain the anomaly—probably between martini lunches and golf-course dealmaking. One thing’s clear: when the herd zigzags, smart money bets on the chain that bypasses the traffic.

Ethereum leads with $29.6m in NFT sales

Ethereum maintains its dominant position with $29.6 million in sales. However, it has seen a 26.22% decline from the previous week and wash trading has decreased by 57.18% to $2 million.

Avalanche (AVAX) has made a dramatic entrance into second place with $22.3 million in sales and has seen a surge of 202.92%.

Polygon (POL) holds the third position with $21.3 million and has shown solid growth of 45.98%. Bitcoin has dropped to fourth place with $18.2 million. It has fallen 21.85% from last week.

Mythos Chain rounds out the top five with $13.9 million. Immutable (IMX) appears in sixth with $8.6 million, while Solana (SOL) sits in seventh with $6.4 million, with a 26.36% drop.

The buyer count has increased across most blockchains, with Avalanche leading at 79.08% growth. This is followed by Bitcoin at 72.98% and Solana at 71.09%.

A major change has happened in collection rankings, with XSY Deposit on Avalanche taking the top spot at $22.1 million in sales. However, this collection appears to be dominated by a single buyer and seller.

Courtyard on Polygon has moved to second place with $14.4 million and has rebounded with 23.23% growth. DMarket remains in third with $8.8 million, up 7.07%.

Bitcoin’s BRC-20 NFTs have fallen to fourth place with $6 million, dropping 15.78%. Guild of Guardians Heroes holds fifth with $5.9 million.

CryptoPunks has dropped to sixth place with $4.8 million in sales, with a 30.94% decline. The collection has seen decreases across all metrics including transactions (42.31%), buyers (37.84%), and sellers (45.24%).

Read last week’s NFT performance from here. Notable high-value sales from this week include:

• CryptoPunks #3609 sold for 440 ETH ($1,089,338)
• CryptoPunks #2537 sold for 80 ETH ($197,242)
• CryptoPunks #2542 sold for 59 ETH ($155,440)
• CryptoPunks #6479 sold for 58.4 ETH ($149,478)
• CryptoPunks #7161 sold for 53.69 ETH ($142,816)