• NFT sales fell 18.43% to $116.9M, per CryptoSlam data.
• Polygon outpaced Ethereum with $23.3M in NFT sales.
• Courtyard on Polygon led with $17.4M, driven by seller surge.

Sales of NFTs dropped 18.43 percent to 116.9 million, with data provided by CryptoSlam showing that the sales were significantly lower compared to the previous week, which had recorded a resounding performance. Notwithstanding the market retraction, Polygon performed better than Ethereum, netting the second position with 24.98 percent growth, having sold $23.3 million worth of shares. Ethereum, on the other hand, saw a decline of 32.23 percent, bringing it down to third place. This change demonstrates the increased interest in blockchain networks that are efficient in terms of cost.

Courtyard, real-life assets, is a project that pumped MATIC and contributed to the rise of Polygon by selling 17.4 million dollars. There was a 1,264.81 rise in the number of sellers on the platform, which indicates high involvement of the market. The number of buyers also increased, with Polygon taking the top position of 35.63% and Solana coming second at 27.41%. Immutable still was in first place with total sales of $28.3 million, but its sales declined by 32.23 percent. The cumulative volume of transactions in the market fell by a small margin of 0.63 percent to a figure of 1,709,086.

Bitcoin went down to $103,000 and Ethereum lost 4 percent in the last week, which signals the overall crypto market weakness. The low transaction cost and scalability that Polygon offers also help it to gain users and question the historical role of Ethereum in buying and selling NFTs. CryptoSlam provides detailed blockchain sales data for further insights.

Broader Crypto Market Faces Challenges

There was a bearish mindset as the crypto global cap was reduced to 3.28 to 3.42 trillion. The wash trading of Ethereum almost disappeared, with the wash trading volume reduced by 81.19 percent to 3 USD, whereas the efficiency of Polygon attracted attention. Solana moved to fifth place, having sold $8.7 million, an increase of 42.74 percent, and Mythos Chain remained in sixth position with sales of $14.1 million.

As a result of Courtyard’s domination over Polygon, real-world asset-backed non-fungible tokens (NFTs) have become more popular. Minimal 0.56% sales growth of the project contradicts its tremendous seller rise, and this fact implies good liquidity. On the other hand, the challenges of Ethereum are consistent with its known expensive costs and slow trading volume.

The continued growth of buyers on Polygon and Solana indicates that the market concern will be maintained, even though the sales are declining. The infrastructure provided by Polygon, which is an Ethereum layer-2 solution, is fast and cheap, therefore making it a popular alternative of choice among NFT traders