Bitcoin Dominates with 50% Jump

The Bitcoin network led NFT sales with a substantial 50.33% rise, totaling $47.74 million. Wash trading also increased by 15.39% to over $39,000. However, active buyers decreased by nearly 96%, with 2,056 addresses engaging in trading activities.

Ethereum Trails Behind with $35 Million in Sales

With $35 million in NFT sales, Ethereum trailed closely behind, down 0.31% from the previous week. In contrast to Bitcoin, Ethereum saw a greater number of active purchasers, despite a 59.67% drop from the previous week.

Polygon saw a 22% increase in sales with NFT sales of $19.63 million, while Solana ranked fourth with $18.225 million. Immutable X had a 13.15% increase in sales after doing so.

The recent surge in NFT market activity signifies a broad-based interest from investors and collectors, extending beyond major players. The potential for continued expansion in the NFT sector is indicated by this widespread revival in the community.

Top NFT Sales Highlights

With one NFT selling for $219,102, the Cardano (ADA) blockchain had the biggest NFT sale of the week. Ethereum’s Cryptopunk #1002 followed closely, selling for $193,372. Among the biggest sales was Polygon, with a Matr1x Fire Weapon NFT trading hands for $97,685.

Leading platforms like Polygon, Solana, and Bitcoin have varying growth rates, which suggests that the market is becoming more varied. Strong sales in collections such as PIZZA NFTs from Bitcoin indicate collectors’ renewed interest. The recent market drop that presented purchasing opportunities and the growing utility of NFTs across other sectors, which attracted a varied set of investors, could be factors contributing to this recovery.

NFTs often benefit from the general expansion of the crypto market. Major cryptocurrencies like Ethereum and Bitcoin typically see in-line gains in value, as do the NFT marketplaces that support them.