The non-fungible token (NFT) market has experienced a significant surge in sales, with total volume reaching $196.2 million, marking a 34.23% increase from the previous week. This growth comes amidst Bitcoin’s historic breakthrough, surpassing $100,000, and the continued rise in cryptocurrency prices. Ethereum (ETH) has strengthened its position, climbing 3.5% in the last 24 hours to reach the $4,000 level.
According to data from CryptoSlam, the NFT market has seen expansion across all key indicators. The number of NFT buyers has increased to 693,833, showing a healthy 20.29% growth, while NFT sellers have grown to 402,069, with a 15.97% increase. Despite a slight decrease in NFT transactions by 1.92% to 1,405,054, the overall market metrics indicate a positive trend.
The Ethereum NFT blockchain has shown the highest performance, nearly doubling its sales volume to $100.9 million, representing a 97.33% increase in the last seven days. The network has attracted 61,020 buyers, indicating a 23.15% growth. Wash trading on the Ethereum network also increased by 52.79% to $18.2 million, signaling heightened market activity.
Bitcoin’s NFT ecosystem, while maintaining its second position, experienced a slight decline of 6.84% in sales volume, standing at $45.1 million. However, the network continues to show strong user engagement with 67,188 buyers, a 22.38% increase from the previous period. Solana (SOL) has maintained its third position with $16.2 million in sales, showing a modest 6.58% increase.
Pudgy Penguins has taken the top position in NFT sales with $21.6 million, following the announcement of their PENGU token launch, which saw a 384.26% increase in sales in the last seven days. CryptoPunks closely follows with $21.3 million in sales, showing impressive growth of 173.86%. Other top NFT collections include BRC-20 NFTs, Guild of Guardians Heroes, and Uncategorized Ordinals.
Notable individual sales this week include Uncategorized Ordinals #876 sold for $7,512,996, CryptoPunks #2202 sold for $455,287, MADinArt 18: iSteef #asset18 sold for $388,073, Azuki #5889 sold for $362,345, and Autoglyphs #328 sold for $328,314. This data reflects a maturing NFT market with significant growth in both established collections and new entrants.
Overall, the NFT market continues to show resilience and growth, with Ethereum leading the way in sales volume and market activity. As the cryptocurrency market continues to evolve, NFTs are becoming an increasingly popular investment and collectible asset class.