NFT Sales Surge 29% to $159.6M: Pudgy Penguins Skyrocket 247%
NFT Market Experiences Resurgence Amid Crypto Bull Run
Weekly NFT Sales Surge 29% to $159.6 Million
The NFT market is witnessing a significant revival, coinciding with a bullish trend in cryptocurrencies, as sales soar and participation increases. Recent data indicates that weekly NFT transactions have risen by 29%, reaching a total of $159.6 million, driven by the upward momentum of Ethereum (ETH) and Bitcoin (BTC). Ethereum continues to dominate the NFT landscape, while Bitcoin is gaining traction, particularly with a remarkable 3,000% increase in Ordinals activity.
Collections such as Pudgy Penguins and CryptoPunks are at the forefront of this resurgence, attracting high-value investors and revitalizing trading activity across various platforms. The number of active buyers and sellers has nearly doubled, suggesting that the NFT sector may be on the brink of its most significant comeback yet.
Ethereum Maintains Dominance in NFT Sales
Market engagement has seen a notable rebound, with NFT buyers increasing by 89.32% to 176,807, while sellers have risen by 86.08% to 112,430. The total number of NFT transactions has also grown by 20.61%, reaching 1,627,841.
Ethereum has solidified its leading position with sales amounting to $79.7 million, marking a 61.83% increase from the previous week. Notably, wash trading on Ethereum has surged by 134.47%, totaling $11.8 million. Bitcoin remains in second place with $24.8 million in sales, reflecting a 60.58% increase. Polygon (POL) holds the third spot with $16.8 million, although it has experienced a 9.44% decline. Wash trading on Polygon has drastically decreased by 80.84%, now at $175,171.
Mythos Chain ranks fourth with $11.1 million in sales, down 20.71%, while BNB Chain (BNB) follows in fifth with $7.2 million, a decrease of 8.25%. Immutable (IMX) has climbed to sixth place with $6.5 million, up 2.82%, and Solana (SOL) rounds out the top seven with $6.4 million, reflecting a 12.75% increase. Across all blockchains, the buyer count has seen substantial growth, with Bitcoin leading at 137.56%, followed closely by Polygon at 104.21% and Mythos Chain at 104.01%.
Pudgy Penguins Sees Remarkable 250% Sales Increase
The Courtyard collection on Polygon continues to lead in sales with $14.1 million, despite a 13.07% decline. This collection has experienced significant growth in both buyers (445.76%) and sellers (1,135.16%).
Pudgy Penguins has surged to second place with $9.3 million in sales, an impressive increase of 247.32%. This collection has more than doubled its transaction volume (up 115.31%) and has seen substantial growth in both buyers (45%) and sellers (51.72%).
Uncategorized Ordinals on Bitcoin has climbed to third place with $8.6 million, showcasing an extraordinary growth rate of 3,095.72%, benefiting from Bitcoin’s strong performance. DMarket has slipped to fourth place with $6 million, down 32.25%, while f(x) wstETH position holds fifth with $5.9 million, a decline of 62.27%. Bitcoin’s BRC-20 NFTs rank sixth with $5.8 million, up 33.41%, and CryptoPunks has entered the top seven with $4.8 million, surging by 118.16%.
Noteworthy High-Value NFT Sales This Week
Several high-value NFT transactions have caught attention this week, including:
- Uncategorized Ordinals sold for 68.9989 BTC (approximately $8,193,864)
- V1 CryptoPunks Wrapped #5822 sold for 200 ETH (around $725,130)
- Autoglyphs #157 sold for 380,000 USDC (approximately $380,000)
- Autoglyphs #480 sold for 75 WETH (about $252,448)
- Pudgy Penguins #4039 sold for 65 ETH (around $201,661)
As of Saturday, Bitcoin’s price hovered just below $118,000 after reaching an all-time high of $123,000. Ethereum has also seen a 21% increase over the past week, now priced at $3,581. The global cryptocurrency market capitalization currently stands at $3.93 trillion, up from $3.68 trillion last week.
