The previous week saw a significant 16% decrease in sales volume. Ethereum experienced a notable surge in wash trading, with a nearly 9.5% increase in activity, resulting in $37.69 million earned.
Wash trading on Ethereum’s platform has continued to rise, and during the prior week, Polygon saw a 37.58% increase in wash trading, which further grew by 46% to $14.9 million this past week. Although wash trading on Zora and Panini went up by more than 50% and 22% respectively, the sales volume of CryptoPunks jumped by a massive 155%, making it the top-selling NFT collection of the week with $5.26 million in earnings.
DMarket, despite a 9.21% decrease in sales, still managed to earn north of $4 million, representing a 73.66% growth over the previous week. Ethereum’s Pudgy Penguins and Solana’s DogeZuki Collection performed well, earning $3.69 million and $2.43 million, respectively.
However, the latter’s performance was overshadowed by the previous week’s winner selling for $587,194, compared to its $204,066 price tag. Fan token sales surged drastically due to two major international soccer tournaments taking place in Europe and the Americas.
The Galatasaray (GAL) fan token recorded the highest sales volume, jumping a remarkable 70,149% to $280.5 million, and the token’s price saw a 2,542% increase, currently priced at $2.87 per unit.