Bitcoin network NFT sales increased significantly by 50.33%, totaling US$47.74 million. Wash trades also increased by 15.39% to over $39,000. However, active buyers decreased by nearly 96%, with 2,056 addresses engaged in trading activity.
Ethereum sales trail $35M
Ethereum NFT sales followed closely behind with $35 million, down 0.31% from the previous week. Ethereum has a higher number of active buyers compared to Bitcoin, albeit down 59.67% from the previous week.
Polygon’s sales grew by 22%, with NFT sales of $19.63 million, while Solana ranked fourth with $18.225 million. After doing so, Immutable X’s sales grew by 13.15%.
Source: CryptoSlam
The recent surge in NFT market activity demonstrates the breadth of investor and collector interest beyond the major players. The broad recovery of the community shows the potential for continued expansion in the NFT field.
Top NFT Sales Highlights
An NFT on the Cardano (ADA) blockchain sold for $219,102, making it the largest NFT sale of the week. Ethereum’s Cryptopunk #1002 follows closely behind at $193,372. The top seller was Polygon, with the Matr1x Fire Weapon NFT trading at $97,685.
Leading platforms such as Polygon, Solana, and Bitcoin are experiencing varying growth rates, indicating that the market is becoming more diverse. Strong sales of collectibles like the Bitcoin PIZZA NFT indicate renewed interest among collectors. The recent market decline has created buying opportunities, and the increasing utility of NFTs in other areas, attracting different types of investors, may be factors contributing to this recovery.
Source: CryptoSlam
NFTs generally benefit from the general expansion of the cryptocurrency market. Major cryptocurrencies such as Ethereum and Bitcoin typically experience linear growth in value, as do the NFT markets that support them.
