The NFT market continues to experience a decline, with sales dropping 12% last week.
Recall sales plunged 16% during the previous week.
According to CryptoSlam, total sales for the last seven days stood at just below $100 million and involved over $785,000 buyers and sellers in 1.4 million transactions.
Ethereum (ETH) was once again the most active blockchain for NFT sales, leading the pack with $38.4 million worth of transactions.
Notably, Ethereum experienced a surge in wash trading last week, with money earned from the activity going up nearly 9.5% to $37.69 million.
Polygon (MATIC) was one of the biggest winners last week. Sales jumped 11.2% to push it past the Bitcoin (BTC) network and into second place.
Interestingly, wash trading on the platform has kept on rising. During the prior week, Polygon registered a 37.58% increase in wash trading. This past week, it went up 46% to $14.9 million, almost double the amount recorded previously. 1 reply
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