The NFT market is seeing some signs of recovery, with sales volume climbing by 1.95% to $106.2 million. This increase hints at a stabilization after last week’s downturn, sparking hope among investors and collectors alike.
At the same time, Bitcoin (BTC) has reached a notable milestone, climbing to the $105,000 mark. In contrast, Ethereum (ETH) has remained relatively stable with little movement over the past week. The global cryptocurrency market cap has also seen a slight uptick, growing to $3.28 trillion from last week’s $3.25 trillion, painting a picture of cautious optimism in the digital currency space.
Data from CryptoSlam reveals an interesting trend in market participation. The number of NFT buyers has surged by 55.08%, reaching 826,992, while the number of NFT sellers increased by 18.12% to 257,017. However, the total number of NFT transactions has dipped significantly, down 24.94% to 1,651,758. This indicates shifting dynamics in the market where more people are looking to buy, but fewer transactions are occurring.
Ethereum NFT Sales Drop 15%
Despite its downturn, Ethereum continues to dominate the NFT landscape with $30.3 million in sales, though this figure reflects a decrease of 15.57% from the previous week. Interestingly, wash trading for Ethereum NFTs has risen by 11.33%, amounting to $1.8 million, hinting at potential market manipulation or speculatory practices that often accompany NFT transactions.
In the race for NFT sales, Immutable (IMX) has made significant strides, securing second place with $16.4 million in sales, showcasing remarkable growth of 123.21%. Bitcoin follows closely, placing third with $15.1 million in sales, marking a 17.81% increase. The Mythos Chain holds fourth position with $14 million, rising by 3.26%, while Polygon (POL) rounds out the top five with $13.9 million, experiencing a drop of 7.72%.
Solana (SOL) also appears in the mix, finishing sixth with $6.1 million and a decline of 13.31%. Notably, the buyer count has increased across all major blockchains. Polygon leads with a spectacular 54.25% growth in buyers, while Solana and Bitcoin follow with increases of 34.99% and 33% respectively, showcasing a burgeoning interest in the NFT space.
When examining collections, Polygon’s Courtyard maintains its top position with $12.5 million in sales. However, this collection has suffered a remarkable decline in sellers, dropping 77.08%. In a surprising twist, the Guild of Guardians Heroes has soared to second place, boasting $10.6 million in sales, which represents an impressive 108.92% growth. DMarket holds third place with $8.9 million, up 6.11%, while Guild of Guardians Avatars has entered the fray in fourth with $5 million and a remarkable increase of 129.32%.
Rounding out the top five is Bitcoin’s BRC-20 NFTs, which have garnered $4.8 million in sales. This collection is demonstrating growth across various metrics, including transactions (up 10.07%), buyers (up 4.74%), and sellers (up 2.96%). Meanwhile, the once-dominant CryptoPunks collection has slid to sixth place with sales of $3.5 million, marking a significant drop of 22.23%. This slump is accompanied by decreases in both transactions (down 13.79%) and sellers (down 36.36%), while the number of buyers has remained stable.
Highlighted sales from the past week reflect the ongoing high-value transactions in the NFT world, with some notable sales including:
- CryptoPunks #1831 sold for 150 ETH ($389,846)
- CryptoPunks #9778 sold for 150 ETH ($377,958)
- CryptoPunks #4868 sold for 76.5 ETH ($201,933)
- CryptoPunks #5586 sold for 70.07 ETH ($185,292)
- CryptoPunks #7516 sold for 60 ETH ($158,378)
