NFT sales surge to $93m, Ethereum network dethrones Bitcoin

Weekly non-fungible token (NFT) sales volume has experienced a notable surge of 22.5%, reaching $93 million, according to the latest data.

As the broader crypto market shows early signs of recovery, the NFT sector is seeing positive momentum, with several key metrics on the rise. Here’s a quick snapshot:

• NFT sales volume increased to $93 million, up from $77.6 million the previous week.
• The Ethereum network has surpassed the Bitcoin network in terms of NFT sales volume.
• NFT buyers nearly doubled, rising from 263,804 last week to 494,666.
• The number of NFT sellers also surged by 108%, reaching 252,401.

These figures highlight a robust uptick in NFT market activity as interest in digital collectibles and assets continues to grow.

Ethereum vs. Bitcoin

Bitcoin, which has been maintaining its top position, has been dethroned by Ethereum in terms of sales volume in the last seven days.

Ethereum NFT sales volume has risen significantly, jumping over 30% from last week’s $26.6 million to $33.4 million at the time of writing.

Bitcoin has also seen a strong increase in its NFT sales, surging by 36%, with the weekly sales volume reaching $21.6 million.

However, a significant portion of Ethereum’s sales volume—$5.3 million—was attributed to wash trading, a practice of artificially inflating trading volume. This figure is notably higher than Bitcoin’s wash trading, which amounted to $902,000.

According to CryptoSlam data, Solana has remained solid in third place, with weekly NFT sales totaling $16.6 million, maintaining its position from the previous week.

The next spots on the leaderboard went to Mythos Chain (MYTH) and Polygon (POL), which generated $5.5 million and $3.9 million in sales, respectively.

When it comes to the number of NFT buyers, Solana has seen impressive growth, with its buyer count reaching 192,543—a remarkable 220% increase from last week’s 60,115. This surge underscores the growing demand for Solana-based NFTs.

DMarket maintains its first position for over three weeks

For the third consecutive week, DMarket holds the top spot in NFT sales with $5.2 million in transactions. However, this represents a nearly 30% decline from last week’s $8.02 million.

In second place is the Uncategorized Ordinals collection, which has experienced an extraordinary surge of 1,800% in sales, reaching $4.86 million over the past week.

According to CryptoSlam, here are the top NFT sales from the past seven days:

• Ordinal Maxi Biz (OMB) #882b65…a96ei0 sold for $109,079 (1.5942 BTC).
• Ordinal Maxi Biz (OMB) #32b13f…6c26i0 sold for $91,085.87 (1.3371 BTC).
• Ordinal Maxi Biz (OMB) #591165…c718i0 sold for $87,895.17 (1.2857 BTC).
• CryptoPunks #6409 sold for $79,237.16 (29.99 ETH).
• CryptoPunks #8135 sold for $78,503.09 (29.75 ETH).

These figures underscore the ongoing demand for high-value NFT assets, particularly within the Ordinals and CryptoPunks collections.