Pudgy Penguins waddle higher despite overall NFT sales slump
According to CryptoSlam data, NFT sales volume has dropped by 33.56% to $169.7 million, down from last week’s $256.9 million.
The pullback has been more severe for market participants, with NFT buyers plummeting by 75.68% to 168,946 and sellers falling by 73.94% to 152,283. Specific NFT collections (i.e. DX Terminal and Pudgy Penguins) bucked the trend.
Bitcoin’s btc-1.72%Bitcoin price has retreated to the $112,000 level following last week’s rally. Ethereum eth-1.84%Ethereum has also pulled back to $3,700 from its recent highs. The global cryptocurrency market cap has dropped to $3.78 trillion, down from last week’s $4.2 trillion valuation.