Nfts
Bitcoin Dominates NFT Markets as Average Price Hits Highest Level Since May 2022
Bitcoin saw $9.8 million in non-fungible token (NFT) sales in the 24 hours leading up to 12:30 p.m. ET on Monday, the most in the industry, according to data from CryptoSlam.
Bitcoin closed March with $514 million in total NFT sales, its best month since last December and a 70% increase from the previous month.
Data from CryptoSlam shows that NFT prices are rising across all blockchains, with the average sale price reaching the highest level in nearly two years.
In March, the average sale price of NFTs was $175, the highest price for these assets since May 2022.
Last month, Bitcoin NFTs recorded the highest average sale price since March 2023, at $1,918.
Bitcoin’s historical sales volume now exceeds $3 billion, a milestone reached last week.
Meanwhile, Ethereum, which had the second-highest sales volume on Monday at just over $9 million, saw its monthly volume drop 11% in March to $489 million.
The average price of Ethereum NFTs last month, $754, is the highest since May 2022, when they had an average price of $2,222.
Solana took third place on Monday despite daily sales dropping 14.72% to $5.5 million.
Solana also had its most successful month for NFTs in March, with $216 million in monthly sales, a 12.4% increase from February.
The average sale price of Solana-based NFTs has surpassed $100 for the first time since April 2023.
Mythos, the fourth-ranked blockchain of the day, showed a notable increase in sales of 27.08%, reaching US$1.21 million.
DMarket, a collection that represents NFTs and in-game items on Mythos, topped the NFT collection chart of the day with $1.18 million USD.
DMarket and Ethereum-based Bored Ape Yacht Club were the only two projects to achieve at least $1 million in sales on Monday.