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I just reviewed last week's data and there's something interesting happening in the NFT market. Buyers surged nearly 92%, reaching over 103,000, but total sales only increased by 12%. That's unusual, isn't it?
Ethereum took the largest share with $21.9 million in sales, a jump of 43.51%, while Bitcoin saw its numbers drop by 23%, but interestingly attracted 110% more buyers. Courtyard remains the strongest collection with $7.82 million, although it decreased compared to a week ago.
What catches my attention is that we're seeing a lot of new people entering NFTs but with smaller amounts. It's not the massive institutional movement we expected. It seems more like a slow stabilization, with people cautiously testing the waters. The NFT market is recovering, but unevenly. Bitcoin and Polygon are still in the game, but the pace varies across each blockchain.