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NFT market experiences a significant rise in sales in a week

TL;DR

  • Sales in the NFT market have skyrocketed to over 11.62% over the last week.
  • Ethereum’s strong presence in the Non-fungible token sector.

Sales of non-fungible tokens experienced a significant uptick over the past week, with transactions totaling $442.02 million, marking an 11.62% increase compared to the previous seven days. Leading the surge were Bitcoin-based NFTs, which claimed the top spot in sales volume across 22 different blockchains.

NFT market sales hit 11.62% in a week

The standout transaction of the week was the sale of the ‘Alien’ Cryptopunk #3,100, featuring a distinctive headband, fetching a staggering $16 million. Bitcoin-based collectibles transactions led the charge, amassing $166,090,817 in sales. This represents a notable 14.26% increase from the previous week, according to data from cryptoslam.io.

Collections such as Uncategorized Ordinals and Nodemonkes on the Bitcoin blockchain made significant contributions, with sales reaching $41.46 million and $37.02 million, respectively. The Natcats Tap collection also made an impact, generating $11,227,067 in sales. Ethereum-based collectibles transactions closely followed, registering the second-highest sales at $165,264,274.

Cryptopunks emerged as the top collection on the Ethereum blockchain, with weekly sales totaling $27,041,685. Additionally, Bored Ape Yacht Club (BAYC) and Pudgy Penguins made substantial contributions to Ethereum’s success, with sales ranging between $11,210,023 and $10,978,077. Overall, Ethereum sales saw an 11.72% increase from the preceding week.

Ethereum’s strong presence in the Non-fungible token sector

Other blockchains, including Solana, BNB Chain, and Mythos Chain, also witnessed notable activity in NFT sales. The Blast blockchain experienced the most substantial weekly growth, surging by 196.64% to reach $5,306,912 in sales. The ‘Alien’ Cryptopunk #3,100 sale for $16 million marked the apex of the week’s transactions.

Notable sales on Solana included Boogle #071, which sold for $355,368, and an Uncategorized Ordinal NFT, which fetched $353,833. Furthermore, a significant auction took place on Friday, with the largest Ordinal inscription, the Runestone, fetching 8 BTC ($544,713). Leonidas, the creator of Runestop, announced that all proceeds from the auction would support the network fees for the Runestone airdrop initiative.

The past week witnessed a surge in NFT transactions, with Bitcoin-based NFTs leading in sales volume. Ethereum-based NFTs are closely followed, with collections like Cryptopunks and Bored Ape Yacht Club driving sales on the Ethereum blockchain.

As interest in NFTs continues to grow, various blockchains are seeing increased activity, underscoring the expanding landscape of digital collectibles and unique assets in the cryptocurrency space. The sale of the ‘Alien’ Cryptopunk #3,100 for $16 million serves as a testament to the growing value and popularity of NFTs in the digital marketplace.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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