Recent weeks have seen a significant increase in sales of leading NFTs held by their owners for more than one year, with Azuki being the biggest victim. About 4.63% of all Azuki collections held by diamond hands were sold off, accounting for nearly 1.88% of the total Azuki NFTs present in the market.

Bored Ape Yacht Club (BAYC) also witnessed a fall in demand, with nearly 2% of their holdings being offloaded by diamond hands. The NFT market has been going through a difficult phase since its peak in March, with daily sales volume and the number of unique buyers dipping considerably.