In the past 24 hours, the broader non-fungible token market has been struggling, indicating a decrease in user interest. The same phenomenon currently happens in the digital asset market, which today saw a significant decline triggered by macroeconomic instability and fear among investors.

However, according to data shared by Phoenix Group today, NFT collections like Pudgy Penguins, the Band Bears, CryptoPunks, and others recorded outstanding performance, suggesting optimism in the market.

NFT market registers decreased volumes

The wider non-fungible token market witnessed a 5.7% decrease in market valuation and a 6.7% decline in transaction volume, suggesting a declined user demand. Most major NFT collections recorded decreased performances.

Despite the declines, Pudgy Penguins gained the spotlight with its best trading volume of $1.93 million over the past 24 hours. It was followed by the Band Bears, which recorded a $1.32 million transaction volume over the same period.

While CryptoPunks took the third position with a $994,410 trading volume, Azuki secured the fourth spot with a $909,830 transaction volume. They were followed closely by Milady Maker, which registered a $903,740 trading volume.

Lil Pudgy settled on position 6 with a transaction volume of $533,550.  Others like Doodies, Courtyard, Bond Bears, and the Baby Bears also gained visibility with their transaction volumes of $443,110, $440,030, $391,020, and $384,600 respectively.

Top 5 NFT collections with sales

Data collected by Phoenix Group also spotted that the wider NFT market witnessed decreased trading sales volume and floor price values. The market registered total daily sales of $17.69 million, down by 2.36% over the previous day.

According to the metrics, here are the best 5 non-fungible token collectibles with the highest sales over the same period. CryptoPunk 8868 emerged the best with total sales of $554,960 in the past 24 hours. It was followed by Bond Bear with $391,020 in sales.

Boo Bears took the third position with $143,400 in sales. CryptoPunk 4550 secured position four with a sales volume of $123,440. CryptoPunk 6788 followed with $113,060 in sales.

Top 5 NFT marketplaces by volume

Lastly, the data spotted the top 5 NFT marketplaces by transaction volumes.

Blur emerged as the best non-fungible token market platform after recording a trading volume of $8.33 million. It was followed by OpenSea with a $6.57 million transaction volume.

CryptoPunks took the third position with an $899,000 trading volume. Element secured the fourth position with a $519,000 trading volume. Magi Eden closed the list with a trading volume of $449,000.