The non-fungible token (NFT) market has experienced a sharp rise, with weekly sales volume surging by 22.5% to reach $93 million, according to the latest data. This growth reflects positive signs of recovery in the broader crypto market, while the NFT space continues to thrive.
Key Highlights:
- NFT sales volume rose from $77.6 million last week to $93 million.
- The Ethereum network has overtaken Bitcoin in terms of NFT sales volume.
- The number of NFT buyers nearly doubled, increasing from 263,804 to 494,666.
- NFT sellers also saw a 108% jump, reaching 252,401.
Ethereum vs. Bitcoin in NFT Sales
For a long time, Bitcoin held the top position in NFT sales volume, but Ethereum has now claimed the lead over the past week. Ethereum’s NFT sales volume climbed from $26.6 million to $33.4 million, a 30% increase. On the other hand, Bitcoin posted a 36% rise, with weekly sales volume reaching $21.6 million.
However, Ethereum saw a significant amount of wash trading, with $5.3 million of its sales attributed to this practice, compared to Bitcoin’s $902,000 in wash trading.
Other Blockchains in NFT Sales
Solana maintained its third-place position, recording $16.6 million in weekly NFT sales. The Mythos Chain followed with $5.5 million, and Polygon (POL) (formerly MATIC) ranked next with $3.9 million in sales.
When it comes to the number of NFT buyers, Solana took the lead with 192,543 buyers, a massive 220% jump from last week’s 60,115.
Top NFT Collections
For the third consecutive week, DMarket has led the market, although its sales dipped by nearly 30%, dropping from $8.02 million to $5.2 million. Uncategorized Ordinals followed with $4.86 million in sales, seeing an impressive 1,800% increase in the last seven days.
Top NFT Sales from the Past Week
According to CryptoSlam, here are the most valuable NFT sales over the past seven days:
- Ordinal Maxi Biz (OMB) #882b65…a96ei0 sold for $109,079 (1.5942 BTC).
- Ordinal Maxi Biz (OMB) #32b13f…6c26i0 sold for $91,085.87 (1.3371 BTC).
- Ordinal Maxi Biz (OMB) #591165…c718i0 sold for $87,895.17 (1.2857 BTC).
- CryptoPunks #6409 sold for $79,237.16 (29.99 ETH).
- CryptoPunks #8135 sold for $78,503.09 (29.75 ETH).
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