Weekly NFT sales climbed from $65.58 million to $88.29 million. This rise was not limited to volume alone. The number of buyers increased by %22.90 to 342,044, while sellers grew by %24.17 to 242,004. Total transactions also expanded by %10.54, reaching 937,495. The data suggests a broader participation recovery rather than isolated activity.

As Capital Shifts Toward Bitcoin, Market Balance Changes

The most striking development of the week was Bitcoin overtaking Ethereum in NFT sales volume. Bitcoin-based NFT transactions reached $29.95 million, marking a sharp %144.41 increase week over week. Buyer participation on the network also rose by %25.29, indicating that the move was not driven by a single outlier alone.

Ethereum continued to grow, with sales volume rising by %39.08 to $27.57 million. However, this increase lagged behind Bitcoin’s acceleration. From a timing perspective, the divergence points to a short-term shift in risk preference among NFT participants.

$X@AI BRC-20 NFTs Redefined the Weekly Narrative

Bitcoin-based $X@AI BRC-20 NFTs became the dominant force behind the surge. The collection generated $23.14 million in weekly sales, reflecting an extraordinary %1,099.81 increase. Yet this figure masks a highly concentrated structure.

Only 12 transactions occurred, involving 12 buyers and 12 sellers. A single sale worth $17.13 million, completed four days ago, stood out as the largest NFT transaction of the week. This concentration raises questions about whether the spike reflects sustainable demand or a temporary liquidity event.

Established Collections Hold Ground but Lose Momentum

DMarket on the Mythos chain ranked second with $6.04 million in volume. Despite strong buyer and transaction counts, its growth pace remained limited. On BNB Chain, YES BOND climbed to $2.72 million, securing a top-three position, though activity was driven by just two sellers.

Ethereum-based CryptoPunks recorded $2.69 million in sales, while Pudgy Penguins returned to the top five with a %52 increase. In contrast, Polygon’s Courtyard collection fell sharply, posting a %56 decline and losing momentum.

Why It Matters

At first glance, the weekly jump suggests a renewed NFT market recovery. However, the distribution of activity tells a more cautious story. Bitcoin’s dominance was largely fueled by a small number of high-value trades, pointing to selective capital deployment rather than a broad-based bull phase.

Whether this concentration evolves into sustained demand or fades as a short-lived spike will become clearer in the coming weeks. For now, volume has risen—but the market’s true direction remains unresolved.

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Sharp Drop in Solana DEX Users 

According to Dune Analytics, daily Solana DEX users numbered over 8 million last October, but now they fall below 1 million. Charts indicate an almost 90% drop over a year. This suggests investors left the network due to lack of profit opportunities. Investor Qwerty commented, “Everyone left the casino or lost it all. wild chart.” 

Logically, fewer investors should lead to lower trading volume. However, DefiLlama data shows daily volume still ranges from $3 to $5 billion. This inconsistency fuels doubts about bot dominance. Investor NoCapMat.eth said, “Knowing how many farming and volume bots operate 24/7, the drop in active users is shocking.” 

According to CoinGecko, Solana’s most popular tokens performed negatively since the start of the year. Tokens like TRUMP, MELANIA, LIBRA, and YZY initially attracted high interest but later caused distrust. Retail users shifted to other chains or exited completely. 

Bullish Perspective and On-Chain Health 

Optimistic analysts argue the sharp drop may signal a market bottom. Some claim the seven-million wallet decline reflects bot removal rather than real user exit. With bot addresses no longer profitable, the environment becomes fairer for regular users. Analysts view this as a healthy development for long-term growth. 

Messari analyst Matthew Nay questioned the shocking data but noted Solana’s on-chain health remains stable. Nay said, “Transactions, fee payers, and signers remain steady. The decline is not as severe as charts suggest.” 

Debates around Solana’s on-chain metrics reflect the network’s complexity. Meanwhile, SOL rose over 35% in August, trading above $210. The altcoin still shows bullish trends, sustaining investor interest. 

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