Key Highlights:
- NFT buyers surge by 138.96% to 259,264, and sellers grow by 98.69% to 137,347.
- Overall NFT transactions dip slightly by 1.14% to 1.5 million.
- Ethereum leads NFT sales with $41.3 million, up 21.5%, while Bitcoin sales jump 53.5% to $22.6 million.
- Polygon sales drop by 22.85%, despite a staggering 49,260% increase in wash trading.
- Solana rebounds with a 17.3% increase in sales to $8.9 million.
- Top NFT collections show mixed performance; newcomer XSY Deposit on Avalanche posts a massive 470% sales growth.
NFT Market Participation Soars
Data from CryptoSlam reveals a strong rebound in NFT market activity this week. The number of buyers jumped nearly 139%, while sellers also rose significantly by almost 99%. However, total NFT transactions slightly decreased by just over 1%, indicating a market that’s expanding its participant base but with more measured trading activity.
Crypto Prices: Bitcoin Dips, Ethereum Recovers
According to CoinMarketCap, Bitcoin experienced a slight pullback, falling below $103,000 after briefly touching $105,000. Meanwhile, Ethereum has bounced back with a 7% recovery over the past week, stabilizing around $2,500. The overall crypto market cap declined marginally from $3.33 trillion to $3.29 trillion.
Source: Blockchains by NFT Sales Volume (CryptoSlam)
Ethereum Remains the NFT Powerhouse
Ethereum continues to dominate the NFT landscape, accounting for $41.3 million in sales—a 21.5% increase from last week. Importantly, Ethereum’s wash trading activity has dropped by nearly 15%, suggesting a healthier and more organic trading environment.
Bitcoin and Polygon Show Divergent Trends
Bitcoin’s NFT sales surged 53.5%, landing it solidly in second place with $22.6 million. Polygon, however, saw a 22.85% decline in sales to $14.5 million, despite an explosive 49,260% spike in wash trading—indicating potential market manipulation or trading irregularities.
Solana and Mythos Chain Hold Strong
Solana’s NFT sales climbed 17.3% to $8.9 million, maintaining its position in the top five blockchains. Mythos Chain, despite a 19.6% sales dip to $13.3 million, still holds fourth place.
Top NFT Collections: Mixed Performances
- Courtyard on Polygon remains number one, though sales dropped 31%, with decreases in buyers, sellers, and transactions.
- DMarket follows but with a 28% decline.
- Bitcoin’s BRC-20 NFTs soared 108% to $7.1 million.
- CryptoPunks doubled sales to $7 million with impressive growth in all metrics.
- Newcomer XSY Deposit on Avalanche made a stunning debut with 470% sales growth.
High-Value NFT Sales This Week
- Known Origin #30101 sold for $410,532
- CryptoPunks #3281 fetched 148 ETH (~$384,286)
- CryptoPunks #1507 and #9460 sold for over $200,000 each
- Mutant Ape Yacht Club #30001 sold for nearly $195,000
Final Thoughts
The NFT market is clearly rebounding with strong buyer interest and rising sales in key blockchains like Ethereum and Bitcoin, even as some platforms face volatility and wash trading concerns. This dynamic growth, coupled with record-breaking high-value sales, signals a maturing market that continues to captivate collectors and investors alike.