Ethereum Dominates as NFT Sales Reach $85.9M in One Week

NFT Market Sees Significant Growth

Sales volume on the non-fungible token market increased by 10.10% last week. NFT sales reached $85.97 million, according to CryptoSlam data, a significant rise over the final September’s two weeks.

Accompanying the increase in sales was a 21.73% rise in the number of NFT buyers. A change in the market’s dynamics is indicated by recent statistics, which show 794,763 buyers and 377,711 sellers.

Transactions increased in tandem with the increase in buyers. NFT transactions increased to  64.72% last week to reach 1,295,201, indicating increased interest and activity in the market. Allow us to examine the top-performing networks at this particular time in more detail.

Ethereum came out on top, NFT sales recorded $27.48 million. It’s worth noting that $3.3 million of those sales came from wash trading. Even so, Ethereum’s buyers grew by 12.49%, reaching 55,859.

Bitcoin took second place with $12.62 million in sales, but the Bitcoin NFT market saw a 40% decline in sales over the week. Solana finished third with revenues of $11.8 million. Mythos Chain (MYTH) came next, recording $11.8 million in sales, while Polygon (POL) posted $10.6 million. Binance Coin (BNB) took the sixth spot, reaching $3.35 million in sales. It’s worth noting that Bitcoin and Solana also saw wash trading figures of $887,810 and $701,810, respectively. Among all these networks, Solana registered the greatest quantity of purchasers at 393,044.

Among NFT collections, DMarket outperformed the rest with the greatest sales during the last seven days. It generated $11.29 million in sales over 396,801 transactions. Second place was awarded to the Guild of Guardians, which had sales of $3.19 million from 5,389 transactions. CryptoPunks, based on Ethereum, grabbed the third rank with $2.89 million in sales throughout the week.

There were a few well-known NFT sales during this time. Autoglyphs #209 led the charge, selling for $240,347.95, equivalent to 99 ETH. Other top sales included Known Origin #70104, which sold for $200,000 in USDC, and Autoglyphs #512, which sold for $160,000 in USDC. Furthermore, Beeple Special Edition #100030016 sold for $123,542.80 in Wrapped Ethereum (WETH), and Autoglyphs #293 sold for $150,008.23 in WETH.

The recent spike in the NFT market suggests that buyers’ interest is expanding and that the amount of transactions has significantly increased. With Ethereum leading the way and DMarket making waves, it will be interesting to observe how the market continues to evolve in the following weeks.