NFT sales drop to $132m, Pudgy Penguins loses steam

The NFT market cooling continues as the overall crypto market cap has grown to $3.6 trillion from last week’s $3.42 trillion, per CoinMarketCap data.

CryptoSlam data shows that NFT sales have fallen 17.54% to $132.7 million this week. This is considerably lower than last week’s $152 million in sales. However, the market has seen greater participation from traders, pointing to sustained interest at lower price levels.

Market activity shows mixed signals:

• NFT sales volume dropped to $132.7 million from last week’s $152.7 million
• The number of NFT buyers rose 25.54% to 667,116
• NFT sellers increased 23.96% to 382,754
• Total transactions fell 16.96% to 1,326,111

Major blockchain networks see mixed results

Ethereum (ETH) NFT sales fell 25.72% to $56 million, though buyer numbers grew 14.35% to 72,241. Wash trading…