Nfts
Bitcoin leads with 50% increase in sales
This week saw a positive turning point for the non-fungible token (NFT) market, with sales up more than 17% after a period of decline.
Total sales reached $145.3 million, involving nearly 230,000 active buyers and sellers.
Blockchains by NFT sales volume
Bitcoin (BTC) the network led the charge NFT sales among blockchains reached $47.74 million, a notable increase of 50.33% from last week.
The network also recorded over $39,000 in wash transactions, 15.39% higher than last week’s numbers.
Despite the improvement in sales volume, the Bitcoin NFT space saw a nearly 96% decline in active buyers. Only 2,056 addresses actively participated in the week’s exchanges.
Ethereum (ETH) blockchain, which, according to data by CryptoSlam, recorded over $35 million in sales between June 2 and 8.
The previous week, like reported According to crypto.news, Ethereum had the highest NFT sales volume, with total sales of $37.43 million. This week’s numbers fell slightly by 0.31% and relegated the Ethereum blockchain to second place in terms of the number of NFT sales.
The network’s wash transaction figures also decreased by approximately 6.87% to $24.7 million. In terms of buyers, Ethereum has been much more active than Bitcoin over the past seven days, with over 15,000 buyers participating in NFT transactions. However, the number remains down 59.67% from last week, according to data from CryptoSlam.
Polygon (MATIC) NFT sales also saw a significant jump, increasing over 22% to $19.63 million. Solana (GROUND) ranks fourth with $18.225 million in sales, down 4.53%. X immutable (IMX) followed, with sales up 13.15%.
Top 5 blockchains by NFT sales volume | Source: CryptoSlam
This recent increase in activity is notable because it shows that interest in NFTs is not just coming from a few major players but from a broad base of collectors and investors. This is a community-wide resurgence, suggesting potential for sustainable growth.
NFT Collective Best Sellers
The highest NFT sale of the week came from Cardano (ADA) blockchain, with an NFT selling for $219,102 just three days ago. Closely following was an Ethereum-based Cryptopunk #1002, which brought in $193,372 two days ago. Polygon was also represented among the top NFT collectibles sellers, with a Matr1x Fire Weapon NFT exchanging hands for $97,685.
The fourth most expensive NFT sold last week was DeezNode #033 from the Solana blockchain, which cost $76,029. This price was only $2,690 more than the fifth most expensive NFT of the week, a Bitcoin Ordinal priced at $73,339.
In terms of top-performing NFT collections, Bitcoin’s PIZZA NFTs were first, generating $17.932 million over the past seven days. The Immutable X Guardians Guild, which generated $7.014 million, an increase of 23.90%, came in second place. Polygon’s Moongirl NFTs secured third place with $5.799 million in sales, representing a whopping 643.51% increase from the previous week.
Are NFTs making a comeback?
Data this week shows varying growth rates among major platforms such as Bitcoin, Solana and Polygon, indicating a diversifying market. The upward trend, highlighted by impressive sales of collections like PIZZA NFT, suggests renewed interest from collectors.
What is driving this renewed interest in NFTs? Several factors may be at play. First, the recent market decline likely provided a buying opportunity for savvy investors looking to take advantage of falling prices. Second, the growing utility of NFTs across various industries, from gaming to digital art, could attract a diverse group of investors.
Additionally, the overall growth of the crypto market tends to have a positive impact on NFTs. As major cryptocurrencies like Bitcoin and Ethereum increase in value, their associated NFT markets often benefit as well.