Key Highlights:
- Buyers leapt 138.96% to 259,264, and those on the sell side rose by 98.69% to 137,347.
- In aggregate, NFT transactions declined by 1.14%, finishing at roughly 1.5 million.
- With total sales of $41.3 million, Ethereum retains its number-one position (up 21.5%) as Bitcoin rises an even stronger 53.5% to $22.6 million.
- Polygon sales declined by 22.85% even as wash trading exploded by a staggering 49,260%.
- Solana rebounded, registering a 17.3% hike in sales to $8.9 million.
- Leading NFT collections record mixed results, with rising star XSY Deposit on Avalanche registering an enormous 470% rise in sales.
NFT Market Participation Hits Soaring Levels
CryptoSlam data shows that NFT market activity has rebounded markedly this week. Buyers surged by 138.8%, while sellers experienced an equally pronounced rise of roughly 99% as well. Yet the overall volume of NFT trades fell by less than 1%, signifying a market whose participant base is broadening yet conducting activity with a tempered pace.
Bitcoin snuck beneath $103,000 after breaching $105,000, whereas Ethereum managed a 7% rebound from recent lows.
CoinMarketCap records Bitcoin dipping below $103,000 after it had peaked above $105,000. At the same time, Ethereum staged a 7% rebound over the last week, settling roughly around $2,500.
Total crypto market capitalization Georgia Alexandria
Source: Blockchains排名（CryptoSlam）
Ethereum Continues to Reign as the NFT Powerhouse
Ethereum still commands the NFT market, generating $41.3 million in sales—marking a 21.5% rise from the prior week. Crucially, wash trading on Ethereum has declined by close to 15%, signaling a more healthy and authentic trading landscape.
Bitcoin and Polygon Present Sharply Opposing Trends
Sales on the Bitcoin chain leapt 53.5%, ensuring a solid second-place performance of $22.6 million. Polygon, by contrast, registered a 22.85% slide in sales to $14.5 million, despite a spectacular 49,260% surge in wash trading that likely signifies market manipulation or other trading anomalies.
Solana and Mythos Chain Remain Solid
Driven by a 17.3% spike in revenues to $8.9 million, Solana clung to its spot among the leading five blockchains. Although the chain logged a 19.6% sales drop to $13.3 million, it still maintains fourth place.
Notable NFT Collections: Mixed Performances
- Though sales fell by 31%, Courtyard on Polygon still holds the top spot, accompanied by drops in both buyers and sellers, along with a reduction in the number of transactions.
- DMarket trails next with a 28% reduction.
- Bitcoin’s BRC-20 NFTs surged 108% to reach $7.1 million.
- Sales of CryptoPunks doubled to $7 million, accompanied by commendable gains across every metric.
- Avalanche’s new release XSY Deposit stunned the market by ringing up 470% growth in its very first sale.
Final Thoughts
A rebound in the NFT market is unmistakable, as strong buyer appetite and soaring sales on leading blockchains like Ethereum and Bitcoin persist, despite wash-trading concerns on certain platforms. However, this robust growth, paired with blockbuster high-value transactions, portends a maturing market that remains enticing to collectors and investors alike.