NFT Market Soars 10.44% to $136.5M as Bitcoin and Ethereum Rally
NFT Market Sees Significant Growth Amid Rising Crypto Prices
Surge in NFT Sales Volume
The non-fungible token (NFT) sector has witnessed a remarkable increase, with sales volume rising by 10.44% to reach $136.5 million. This marks the second consecutive week of growth, signaling a strong upward trend in the NFT landscape. This surge in sales aligns with a notable rise in Bitcoin (BTC), which has reached the $108,000 mark, alongside a 3.6% increase in Ethereum (ETH) over the past week. Additionally, the total market capitalization of cryptocurrencies has expanded to $3.33 trillion, up from $3.21 trillion the previous week.
Market Participation Metrics
Despite the increase in sales, market participation metrics reveal a stable number of NFT buyers, which remains at 1,061,348, reflecting a 50.56% growth rate. Conversely, the number of NFT sellers has risen by 8.09% to 38,494, while NFT transactions have seen a decline of 19.72%, totaling 1,357,295. This indicates a growing interest in NFTs, although the frequency of transactions has decreased.
Leading Platforms in NFT Sales
Immutable (IMX) continues to dominate the NFT market, achieving $43.9 million in sales, a 30.27% increase from the prior week. Polygon (POL) has surged to the second position with $25 million in sales, marking a significant 51.53% rise. Ethereum follows in third place with $22.5 million, although this represents an 8.63% decrease. Mythos Chain holds the fourth spot with $14.4 million, up by 2.16%, while BNB Chain (BNB) remains fifth with $9.1 million, showing a slight decline of 0.13%. Bitcoin ranks sixth with $8.7 million, reflecting a growth of 12.70%.
Buyer Growth Across Blockchains
The number of buyers has increased across most blockchain platforms, with Polygon leading at a growth rate of 35.63%. Bitcoin follows with a 23.22% increase, and Mythos Chain shows a 19.32% rise. This trend indicates a strong interest in these blockchains among NFT enthusiasts.
Top NFT Collections
In the rankings of NFT collections, Guild of Guardians Heroes retains the top position with $26.8 million in sales, representing a 37.72% increase. This gaming collection benefits from the strength of Immutable. The Courtyard on Polygon has moved up to second place with $18.9 million, a 22.53% increase, showing growth in buyers (16.22%) while the number of sellers has decreased by 6.65%. The Guild of Guardians Avatars holds the third position with $9.7 million, reflecting a 24.19% increase. DMarket is in fourth place with $9.2 million, up by 3.61%, and Gods Unchained Cards rounds out the top five with $7.2 million, growing by 15.19%. Notably, this marks the third Immutable-based gaming collection in the top rankings.
CryptoPunks’ Notable Performance
CryptoPunks has climbed to ninth place with $2 million in sales, achieving a 26.36% increase. The collection has experienced growth across all metrics, including a 25% rise in transactions, a 12.50% increase in buyers, and a 14.29% rise in sellers. High-value sales this week include CryptoPunks #1831 sold for 150 ETH ($389,846), CryptoPunks #9778 for 150 ETH ($377,958), CryptoPunks #4868 for 76.5 ETH ($201,933), CryptoPunks #5586 for 70.07 ETH ($185,292), and CryptoPunks #7516 for 60 ETH ($158,378). These transactions underscore the ongoing interest and investment in high-value NFTs, particularly within the CryptoPunks collection.
