Global NFT sales volume shrank 15.28% to $37.54 million over the past seven days. Data from CryptoSlam as of September 19, 2026, highlights an unusual market dynamic: total dollar volume continues to contract, yet the number of market participants is rising.
The number of buyer addresses surged 174.04% to 114,977 wallets, while seller addresses rose 151.72% to 108,037 wallets. However, this influx of new participants was not accompanied by a rise in transaction counts. Total NFT transactions slipped 9.08% to 808,432, indicating that trading activity is dispersing across more wallets with lower average ticket sizes.
Ethereum Leads, Bitcoin Drops by Half
Amid broader market weakness, the Ethereum network retained its top position. Ethereum recorded $15.32 million in organic sales, down a modest 2.66% from the previous week. Trading activity on the network remained relatively clean from manipulation, with wash trading volume logging just $443,802.
Bitcoin followed in third place under heavier pressure. NFT sales on the network plunged 53.99% to $4.33 million. A similar market paradox unfolded here: despite volume falling by more than half, the number of Bitcoin NFT buyer addresses climbed 141.29% to 5,441 wallets. This sharp rise in participants alongside sliding volume is a strong signal that average prices per Bitcoin NFT transaction have shrunk significantly.
Polygon Volume Overshadowed by Wash Trading
Polygon took second place, generating $7.09 million in organic sales. However, beneath that ranking lies wash trading activity that vastly exceeded genuine volume. Data shows wash trading volume on Polygon topped $18.07 million, substantially higher than its actual organic transaction value.
In fact, Polygon’s total inflated volume with wash trading reached $25.15 million. These artificial transaction numbers serve as a reminder that wash trading volume should not simply be lumped together with organic volume, as doing so creates a misleading illusion of ecosystem size.
Shift Toward Lower-Priced Assets
The influx of tens of thousands of active wallets alongside shrinking dollar volumes highlights a shift in how market participants value NFTs. The community continues to collect digital assets, but collectors are opting for lower-priced items rather than rotating capital into high-value projects. The NFT market has not lost interest - it has simply lost purchasing power.
Reported via crypto.news.
Read also: What Are NFTs and How Do They Work?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
