NFT Market Sees 17% Increase in Sales: Bitcoin Leads the Charge

The non-fungible token (NFT) market experienced a significant turnaround this week, with sales increasing by over 17% after a period of decline. The total sales reached $145.3 million, involving nearly 230,000 active buyers and sellers.

Leading the charge in NFT sales among blockchains was the Bitcoin (BTC) network, which saw a notable rise of 50.33% to reach $47.74 million in sales. Despite the increase in sales volume, the number of active buyers on the Bitcoin NFT platform dropped by almost 96%.

Following closely behind was the Ethereum (ETH) blockchain, recording over $35 million in sales for the week. While Ethereum had the highest NFT sales volume the previous week, this week’s figures dropped slightly, placing it in second place.

Other blockchains such as Polygon (MATIC) and Solana (SOL) also saw significant increases in NFT sales, indicating a widespread resurgence of interest in the NFT market.

The top NFT sale of the week came from the Cardano (ADA) blockchain, with an NFT selling for $219,102. Ethereum-based Cryptopunk #1002 followed closely behind, fetching $193,372. The top-performing NFT collections included Bitcoin’s PIZZA NFTs, Immutable X’s Guild of Guardians, and Polygon’s Moongirl NFTs.

Overall, the data suggests a diversifying market for NFTs, with renewed interest from collectors and investors. Factors driving this resurgence may include a recent market dip providing buying opportunities, increased utility of NFTs across various sectors, and the positive impact of the overall crypto market on NFTs.