The latest data shows that non-fungible token (NFT) sales volume has increased by 22.5% to reach $93 million, a significant jump from the previous week’s $77.6 million. This surge in sales comes as the crypto market is slowly recovering, with the NFT market experiencing positive trends in volume and other metrics.
One noteworthy development is that the Ethereum (ETH) network has surpassed the Bitcoin (BTC) network in terms of sales volume. This shift in dominance highlights the growing popularity and adoption of NFTs on the Ethereum blockchain.
The number of NFT buyers has almost doubled from 263,804 to 494,666 in the past week, indicating a strong interest in NFTs among investors and collectors. Similarly, the number of NFT sellers has also increased by 108% to 252,401, reflecting a growing supply of NFTs in the market.
When comparing Ethereum and Bitcoin in terms of NFT sales volume, Ethereum has seen a significant increase from $26.6 million to $33.4 million, marking a growth of over 30% in sales. On the other hand, Bitcoin has also experienced a 36% surge in weekly sales volume, reaching $21.6 million.
It is worth noting that Ethereum had a higher volume of wash trading compared to Bitcoin, with $5.3 million attributed to wash trading on the Ethereum network, while Bitcoin had $902,000 in wash trading volume.
Solana (SOL) has maintained its third position in the NFT market with a weekly sales volume of $16.6 million. Mythos Chain (MYTH) and Polygon (POL) have secured the fourth and fifth positions with $5.5 million and $3.9 million in sales, respectively.
In terms of the number of NFT buyers, Solana has shown significant growth, with 192,543 buyers compared to 60,115 buyers in the previous week, representing a 220% increase.
DMarket continues to lead the NFT collection rankings for the third consecutive week, with sales totaling $5.2 million. However, this marks a decrease of nearly 30% from the previous week’s sales of $8.02 million. Uncategorized Ordinals has secured the second spot with $4.86 million in sales, showing an impressive 1,800% surge in sales over the last seven days.
The top NFT sales from the past week include Ordinal Maxi Biz (OMB) #882b65…a96ei0 selling for $109,079 (1.5942 BTC), Ordinal Maxi Biz (OMB) #32b13f…6c26i0 selling for $91,085.87 (1.3371 BTC), and Ordinal Maxi Biz (OMB) #591165…c718i0 selling for $87,895.17 (1.2857 BTC). Additionally, CryptoPunks #6409 was sold for $79,237.16 (29.99 ETH), and CryptoPunks #8135 was sold for $78,503.09 (29.75 ETH).
Overall, the NFT market is experiencing significant growth in sales volume and activity, with Ethereum leading the way in terms of network activity and adoption. Investors and collectors are showing increased interest in NFTs, driving up both buying and selling activities across various blockchain platforms.
