The NFT market has risen despite the weak crypto price, with Bitcoin down 3% to $94,000 and Ethereum falling sharply by 9% to $3,200.
Although the broader cryptocurrency market cap has shrunk to $3.3 trillion from last week’s $3.5 trillion market cap, the NFT market has turned positive.
According to data from CryptoSlam, NFT sales volume increased 10.70% this week to $155.4 million. The increase in total turnover is accompanied by a notable decrease in the number of market participants, indicating larger transactions from fewer buyers.
The weekly statistics are as below:
- NFT sales volume rose to $155.4 million from $132.7 million last week
- NFT buyers fell 81.79% to 122,806
- NFT sellers fell 73.24% to 104,090
- The number of transactions increased by 0.16% to 1,483,044
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Blockchain networks show mixed results
Ethereum (ETH) NFT sales grew 13.09% to $61.9 million, although the number of buyers fell 65.62% to 24,836. Wash trading on the network rose 76.73% to $25.1 million.
Bitcoin (BTC) NFTs saw modest growth, with sales up 1.97% to $30.8 million. The number of buyers on the network fell by 87.15% to 8,665.
Source: Blockchains by NFT Sales Volume (CryptoSlam)
Solana (SOL) rose $20.1 million in revenue, an increase of 9.96%. Mythos Chain was in fourth place with $12.4 million, up 4.39%. Base entered the top five with $8.4 million, a 211.18% increase in revenue.
Pudy penguins bounce back
Pudgy Penguins achieved revenue of $9.2 million, an increase of 82.32%. The recovery saw more activity: the number of transactions increased by 50.70% and the number of buyers increased by 67.39%.
BRC-20 NFTs took second place with $8.2 million, a growth of 40.78%. DMarket held steady in third place with $7.2 million, up 8.06%, and maintained high volume with 282,071 transactions.
NFT Collection Rankings: Data from CryptoSlam
Guild of Guardians Heroes fell 11.17% to $5.1 million, while Azuki fell to fifth place with $4.0 million, down 56.58%.
This week’s top sales included:
- SuperRare #37380: $474,710 (474,710 USDC)
- CryptoPunks #4757: $453,894 (125 ETH)
- SuperRare #37380: $396,000 (108.7469 WETH)
- CryptoPunks #3698: $277,876 (82 ETH)
- Abstract Creature: $222,680 (2.3681 BTC)
The NFT market has found some stability with sales volume increasing, even if participation remains limited. Read last week’s NFT activity here.
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