Non-fungible token (NFT) sales have witnessed a significant increase following a downward curve between August 25 and 29.
According to CryptoSlam, NFT’s revenue is up 36.5% in the past 24 hours to around $14.25 million. According to the data aggregator, total transactions are still 19% lower than the local high of $17.61 million on Aug. 17.
In addition, the total number of transactions and average sales also increased by 9.05% and 32.33%. According to CryptoSlam, the number of transactions has reached 277,997, while the average value of a sale grew to $51.
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On the other hand, the total number of wash trades has also increased with the NFT uptrend. According to the data provider, NFT wash volume increased 4.45% to $4.51 million in 28,207 wash transactions.
According to CryptoSlam, Ethereum (ETH) remains the preferred blockchain for NFT transactions, with a total sales volume of $8.4 million. Polygon (MATIC) ranks second with a remarkable share of $1.2 million.
The increase comes as the number of wash trades on the Ethereum network is down 4% in the past 24 hours to $3.1 million.
According to an Aug. 24 crypto.news report, rock bottom prices of the top NFT collections — BAYC, MAYC, CryptoPunks, and Azuki, to name a few — fell significantly in the third week of August.
In addition, a report on August 28 revealed that the NFT market had a low sales volume of just $8.9 million for two years.
Read more: The top NFT floor prices are falling while sales are rising slightly