Bitcoin NFTs grow significantly
Last week, the NFT market on different blockchains saw a series of gains and losses. Bitcoin NFT sales increased by 29.36%, a significant increase. As a result of this strong growth, total sales of Bitcoin NFTs reached $16.78 million. Despite the difficulties facing the larger NFT business, the growth of Bitcoin-based NFTs demonstrates continued interest in the space. On the other hand, the overall market performed poorly, with revenue of $77.46 million, down 8.78%. Differences in cross-platform performance reflect varying interest in different blockchain ecosystems.
Sales of Ethereum-based NFTs reached $27 million, regaining the lead. Ethereum Sales growth of 4.95% shows that it is still the dominant force in the NFT field. Despite the difficulties facing the market as a whole, Ethereum’s position appears to be solid due to its longevity and committed users. Even if the market conditions are not ideal, it is still a reliable platform for digital collectibles. at the same time, Solana NFT followed closely, ranking third with sales of $11.38 million, a slight increase of 1.95%. Compared to the larger gains for Bitcoin-based NFTs, this slowdown in growth may mark a plateau for Solana’s NFT ecosystem.
Mythos’ Dmarket became the highest-selling NFT series this week, with sales exceeding $5 million. However, despite its leadership position, Dmarket’s sales fell 64.26% from the previous week, indicating that even the best-performing series faces challenges. Followed by Bitcoin Puppets, which ranked second with sales of $3.46 million. Sales of Bitcoin Puppets surged by 78.52%, demonstrating growing interest in Bitcoin-based NFTs. Immutable X’s Guild of Guardians rounded out the top three, with sales of $2.94 million, but overall performance fell 6%.
Source: Bored Ape Yacht Club
Some high-value NFT sales continue to attract attention. Leading the way is Bored Ape Yacht Club (BAYC), whose NFT #7940 sold for $1.43 million just 24 hours ago, making it the most expensive NFT auction this week. BAYC’s strong brand and reputation in the NFT industry is reflected in its ability to continue to attract large amounts of capital. Other notable sales include the Axie Infinity NFT from Ronin Blockchain, which sold for $90,107, and the Ordinal Maxi Biz digital collectible, which sold for $83,627. These high-value sales are a reminder that while the overall market is struggling, certain collectibles continue to generate significant interest from collectors.
Despite individual successes, the NFT market as a whole still faces significant headwinds. The sharp decline in buyers and sellers suggests that interest in the broader NFT space may be waning. While there remains strong interest in specific projects and series, the market’s ability to maintain overall growth momentum appears to be waning. As trends shift across different platforms, the digital collectibles market is entering a period of adjustment. This decline reflects changing conditions, with many investors and collectors taking a more cautious approach as they navigate this changing market.
