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Memecoins
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The number of NFT buyers and sellers in the last seven days has significantly increased, but the sales volume has barely changed to reflect the momentum. NFT buyers rose by 45% to 493,545 while sellers increased by 25% to 257,853, with the sales volume only rising by a mere 2% on the last day of the 7-day period. The Ethereum blockchain leads in NFT sales volume, while other chains like Solana and Ethereum layer 2 Polygon had the most NFT buyers in the last seven days.
According to CryptoSlam, the number of NFT transactions has also not increased to reflect the rise in buyers and sellers. In the last week, for example, there were 1.5 million transactions, which was a 4.6% increase from the previous week.
Collections with the highest 7-day sales volume include Courtyard, DMarket, DKTNFT, Guild of Guardians Heroes, Pudgy Penguins, and CryptoPunks. Pudgy Penguins, for example, has a volume of $2.8 million, a 168% increase from the previous week.
The collection’s buyers and sellers have also doubled compared to the previous week. CryptoPunks NFTs, on the other hand, saw their sale volume plummet by over 34% within the same period. The number of buyers and sellers also dropped by 41% and 38%, respectively.
Extrapolating the values to the last 30 days, the NFT market is yet to recover. In April, the NFT sales volume dropped by 40% to $388.6 million. The number of buyers, sellers, and transactions also declined by 48%, 38%, and 54%, respectively.
The drop is reflected on top chains like Ethereum, Polygon, Bitcoin, Solana, Immutable, and BNB Chain. According to a DappRadar report, NFT trading volume has plummeted by more than 90% since 2021.
With the NFT sales volume not reflecting an increase in buyers and sellers, it’s likely that NFT collectors are focusing more on cheap collectibles that don’t have an impact on the volume.
Coin market cap
Updated May 1, 2025, 4:14 p.m. Published May 1, 2025, 10:55 a.m.
Swiss asset manager 21Shares has filed a S-1 registration form for a SUI exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC).
SUI is currently trading at $3.68, rising by 10.9% over the past 24 hours and 5% after the filing went live on the SEC’s website.
“Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out,” said Duncan Moir, President of 21Shares, speaking at Sui’s annual Basecamp conference.
SUI is a layer-1 blockchain developed by former Meta engineers. The network’s native token has a market cap of $11.8 billion, leaving it just outside the top 10 largest cryptocurrencies.
21Shares’ filing comes six weeks after Canary Capital filed paperwork to launch a SUI ETF.
The Sui Foundation also announced on Thursday that it signed a deal with Fireblocks to enhance institutional-grade infrastructure across the network.
The integration will allow institutions to engage with Sui using native SUI custody and access to DeFi protocols on the network.
UPDATE (May 1,2025, 13:41 UTC): Adds details on Fireblocks deal in sixth and seventh graf.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
