Mimay, a collection based on the Solana blockchain, topped the daily sales chart for non-fungible tokens (NFTs) on Sunday. According to CryptoSlam data, Mimay achieved an impressive daily sales total of $741,214. This surge in sales comes despite the broader cryptocurrency market experiencing significant declines.

Cryptocurrency Market Falls Below $2 Trillion

The overall cryptocurrency market capitalization fell below $2 trillion for the first time since February. This downturn has been felt across various cryptocurrencies, including Solana’s native cryptocurrency, SOL, which saw its value decrease by about 30% over the past week.

Bitcoin, the largest cryptocurrency by market cap, fell below $50,000 for the first time since February, trading at $54,363 as of 11:30 a.m. ET on Monday. Ethereum, the second-largest cryptocurrency, also faced substantial losses, dropping around 20% of its value. This plunge in prices coincides with a historic stock market crash in Japan, where the Nikkei 225 Index closed down 12.4%, marking its largest single-day points loss ever.

Jump Trading’s Impact on Ethereum

Blockchain data revealed that Jump Trading, a proprietary trading firm, recently sold off significant amounts of Ether and staked Ether holdings. These large transactions, primarily occurring over the weekend, have led to speculation that Jump Trading might be shutting down its crypto division due to regulatory issues.

On the Ethereum network, the Pudgy Penguins collection ranked second in daily NFT sales with a total of $642,585. Milady Maker, another Ethereum-based collection, claimed the third spot, generating $508,647 in sales. Both collections demonstrated strong performance despite the turbulent market conditions.

Notable NFT Collections on the Rise

CryptoPunks, an Ethereum-based pioneer in the NFT space, recorded $364,400 in daily sales from just five transactions, securing the fourth spot. Meanwhile, Solana’s DogeZuki Collection ranked fifth with daily sales reaching $358,730 across a staggering 8,407 transactions.

The significant activity in the NFT market highlights the continued interest and investment in digital assets, even as the broader cryptocurrency market faces considerable challenges.