The NFT Market’s Soggy May: More Buyers, Less Bucks & a Surprise Rocket 🚀

Hold onto your digital wallets, folks! In a baffling twist of fate, May saw NFT sales nosedive by a hefty 21.25%, totaling just $474 million. That’s about the same as a small mountain of avocado toast, if you’re into that sort of thing.

NFT Market Declines in May

Despite a charming 16.45% increase in buyers and a slight 1.57% bump in sellers, the total dollars spent on NFTs decided to take a scenic route southward. According to the ever-reliable cryptoslam.io, last month’s sales just couldn’t keep up with April’s lofty expectations, falling short by almost $128 million. cryptoslam.io reports Ethereum NFTs led the charge with $140.39 million—roughly 30% of the total pie. Who knew Ethereum could go from a rockstar to a bit of a mope so quickly?

Ethereum’s glamour flickered slightly, dropping nearly 21% from April, but it’s still holding on tight. Bitcoin, that old faithful, came in second place with $74.51 million, actually gaining about 20%—which is like a lottery win for the crypto world. Polygon, meanwhile, managed to stay in third, just over $73 million—but it’s a little worse for wear, down 47.38%, as if it ate a bad taco. Naturally, Avalanche was the Cinderella story of May, soaring an astronomical 1208.40% to hit just over $31 million, thanks to the launch of XSY Deposit. Now that’s what I call a literal rocket ride!​

Polygon’s Courtyard collection was the belle of the ball, raking in nearly $60 million—probably by bribing collectors with virtual glitter. Dmarket from the Polkadot-based Mythos project pulled in about $39.32 million, while XSY Deposit claimed third place with $30.25 million. Among the top ten, Doodles made a dramatic splash, leaping 226.54% and netting $8.68 million—proof that sometimes, even NFTs can have a good hair day.

Ethereum remains the reigning heavyweight champion in the NFT world with a staggering lifetime total of $45.77 billion. Solana is chipping away with $6.34 billion, and Bitcoin lingers close behind at $5.4 billion. Interestingly, Bitcoin’s shiny new NFT scene might just outshine Solana if trends keep up, sitting a mere $940 million behind. Still, it’s a long haul to catch up with Ethereum’s yawning lead of over $40 billion—time to bring the chain-saw!​

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2025-06-02 22:31