NFTs are feeling the effects of a sluggish crypto market, with sales sliding to $94.7 million, down from $102.8M a week prior. Participation has also slumped—buyers and sellers each fell by over 75%, and transaction counts dropped 6.3%.

Chain Breakdown: Ethereum Resilient, Solana Weakens

Ethereum NFTs saw a surprising 41.3% rise, totaling $36.1M, even as ETH’s price dipped. But Solana struggled, shedding 33.4%, with just $6.5M in sales.

Other top performers:

• Polygon: $17.4M
  
• Mythos Chain: $14.1M
  
• Immutable: $5.5M
  

Polygon also led wash trades at $2.6M, leaping past Ethereum’s $2.5M.

Top Collections: Courtyard Beats CryptoPunks

Courtyard claimed the top spot with $15.6M in sales, while CryptoPunks rebounded to second place at $9.1M, up 168%.

Other notable collections:

• DMarket: $8.9M
  
• f(x) wstETH Position: $5.8M
  
• Guild of Guardians Heroes: $3.7M
  

A huge sale this week saw CryptoPunks #3100 sell for 4,000 ETH ($6M+), leading a string of six-figure NFT deals.

OpenSea’s SEC Appeal: “We’re Discovery Tools, Not Exchanges”

OpenSea is asking the SEC to formally state that NFT platforms are not subject to stock exchange rules. The company argues that NFTs don’t function like securities and that its marketplace only facilitates peer-to-peer, on-chain transfers.

Their request follows the SEC’s decision to drop a prior investigation, aligning with the Trump administration’s shift away from aggressive crypto regulation.