Based on statistics collected between August 17 and 24, 2024, the non-fungible token (NFT) market saw a vibrant 24.33% increase in sales compared to the previous week. Revenue reached an impressive $99.05 million, with Ethereum-based NFTs leading the charge with $36.62 million.
NFT market is booming with Ethereum at the helm, reaching $99 million in sales
This week, stats from cryptoslam.io show that the NFT scene saw a healthy increase of 24.33% from the week before. Not only that, but the number of NFT buyers skyrocketed by 42.96%, and sellers weren’t far behind, up 41.53%. Ethereum took the crown as the top blockchain for NFT sales, raising $36.62 million. Solana followed closely behind, generating $18.43 million, representing a 14.4% increase in revenue.
Polygon secured the third spot, racking up $12.52 million in NFT sales, while Bitcoin-focused NFTs came in just below with $12.14 million. Mythos rounded out the top five chains, raising just over $5 million. Among collections, Ethereum’s Cryptopunks led the pack with total revenue of $7.65 million.
Mythos’ Dmarket claimed second place with $4.99 million, followed by Ethereum’s Bored Ape Yacht Club (BAYC), which raked in $3.59 million this week. This week’s most expensive NFTs weren’t as extravagant as in previous weeks. The top sale was Arbitrum’s GETH Locked Deposit, which raised $256,000. An Ethereum NFT called Zoth Nibiru sold for $250,000, and Solana’s Boogle #061 changed hands just five days ago for $200,000.
The rise in NFT sales, coupled with the significant increase in buyers and sellers, signals a renewed enthusiasm for digital collectibles on various blockchains. While Ethereum continues to dominate, other chains such as Solana, Polygon and Bitcoin are making progress, indicating a more diverse market. The relatively muted prices of the top NFTs this week could signal a more cautious approach from investors.