NFT sales experience an astronomical surge on a weekly basis.
Bitcoin (BTC) dominated the non-fungible token (NFT) market last week, recording a staggering $423,004,860 in transactions. This marks a 32% increase compared to the previous week and the third consecutive week of strong growth in the NFT market. According to data compiled by Cryptoslam.io, Bitcoin led the charge with $160.37 million in sales, representing an impressive surge of 80.45%. Ethereum (ETH) closely followed with $159.64 million in transactions, a respectable 14.41% uptick in ETH-based NFT sales. Other blockchains such as Solana (SOL), BNB Chain (BNB), and Mythos Chain (MYTH) also experienced significant growth in NFT sales. Solana generated about $65.129 million in weekly sales, while BNB Chain and Mythos ended the week with $9.019 million and $7.7 million in sales, respectively. Bitcoin also saw the highest increase in wash trading, with $465k made through this practice, representing a nearly 2600% increase from the previous week. The top-grossing NFT collections for the week were Bitcoin’s Uncategorized Ordinals, earning $41,210,717 in sales, a substantial 157.74% increase from the previous week. The NodeMonkes collection closely followed with $35,128,917 in transactions, followed by Pandora, Creepz, and $NATCATS. Remarkable individual transactions were also seen across different blockchains, including a Bitcoin NFT called “Burgie” that sold for $1.44 million and a Solana-based NFT titled “Composable Restaking Position” that fetched $1.1 million. The surge in NFT sales also led to an increase in the number of buyers, with a 40.5% rise, although there was a 2.47% drop in the total number of NFT transactions. However, popular marketplace Opensea experienced a significant downturn in February, with only 33% of the total NFT sales and a decline in active users.
