NFT Sales Soar 3% This Week, As NFT Buyers And Sellers Surge By Over 450%

Non-fungible tokens are gradually gaining traction in the crypto market, but this time around, they are cheaper and more affordable than many traders could expect. The global non-fungible token market has slightly increased in trading sales volume this week, breaking its recent negative trend that held trading sales volume below $100 million for the past several weeks.

NFT Sales Jump 3% This Week

Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token explorer backed by crypto billionaire Mark Cuban, indicates that the global non-fungible token market has recorded some positive growth again this week. In the past seven days, the global NFT market has attracted a trading sales volume of $82 million, representing a 3.09 % increase from the past week.

During this period, the number of investors buying non-fungible token collections has increased this week. In the past seven days, the global NFT market has seen 220,000 crypto traders buying NFTs, representing a 552% surge from the past week. On the other hand, the number of traders selling their NFTs has surged 436% this week to 139,962. During this time, the NFT market has seen over 1.6 million transactions this week, up 48% from the past week.

Ethereum, the blockchain network hosting Ethereum and renowned in the NFT market for powering the majority of blue-chip non-fungible token collections, has been this week’s top-traded blockchain network in the NFT market. In the past seven days, the Ethereum-based NFT collections have amassed a trading sales volume of $27 million. During this period, the Ethereum NFT trading sales have plunged 5.97% from the past week.

Bitcoin, the blockchain network renowned in the NFT market for powering Ordinals and BRC-20 non-fungible token collections, has reclaimed its initial market dominance from Solana and is this week’s second most-traded blockchain network in the NFT ecosystem. In the past seven days, the Bitcoin-based NFT collections have raised a sales volume of $15 million. The Bitcoin NFT trading sales volume has surged 29% in the past week.

Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and various decentralized applications, has slightly dropped from the past week and become this week’s third most-traded NFT blockchain network. In the past seven days, the Solana-based NFT collections have recorded a trading sales volume of $13 million, representing a 4.45% surge from the past week.

BNB Chain, a blockchain network from the digital asset exchange Binance, has increased traction among traders, overturning giant blockchains like Polygon and Mythos Chain to become the fourth most-traded blockchain network in the NFT market. In the past seven days, the BNB Chain-based NFT collections have recorded a trading sales volume of $7.2 million.

Mythos Chain, an Ethereum scaling solution and one of the leading platforms for building web3 games on the Ethereum ecosystem, has been this week’s fifth most-traded blockchain network in the NFT ecosystem. In the past seven days, the Mythos Chain-based NFT collections have recorded a trading sales volume of $5.9 million. During this period, the Mythos Chain NFT trading sales volume has surged 680% from the past week.

Five Top Selling NFTs In The Past 7 Days

1. DMarket NFT Collection

DMarket, a non-fungible token collection from the virtual asset marketplace, DMarket hosted on the Mythos Chain network, has been this week’s most-selling NFT collection. In the past seven days, the DMarket NFT collection has recorded a trading sales volume of $5.6 million. DMarket NFT sales have surged 791% in the past week. DMarket NFT was the major contributor to the Mythos Chain.

2. CryptoPunks NFT Collection

CryptoPunks, a non-fungible token collection featuring a limited set of 10,000 Ethereum NFTs created by Larva Labs but now managed by the digital asset incubation studio Yuga Labs, is this week’s second most-selling NFT collection. In the past seven days, the CryptoPunks NFT series has recorded a trading sales volume of $5.2 million. During this period, CryptoPunks NFT trading sales volume has surged 5.73% from the past week.

3. $?? BRC-20 NFT Collection

$??, a non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, is this week’s third most-selling NFT collection. In the past seven days, the $?? BRC-20 NFT collection has recorded a trading sales volume of $3.7 million. During this period, the $?? BRC-20 NFT trading sales volume has surged by 455% from the past week.

4. Guild of Guardians NFT Collection

Guild of Guardians, a non-fungible token collection from the Guild of Guardians, a mobile role-playing game that allows teams of heroes through challenging dungeons to collect resources, is this week’s fourth most-selling NFT collection. In the past seven days, the Guild of Guardians NFT collection has raised a trading sales volume of $2.9 million. The Guild of Guardians NFT trading sales volume has dropped by 11% from the past week.

5. Luxemarathoner NFT Collection

Luxemarathoner, a non-fungible token collection created on BNB Chain- a blockchain network from American crypto exchange Binance, is this week’s fifth most-selling NFT collection. In the past seven days, the Luxemarathoner NFT collection has recorded a trading sales volume of $2.3 million. During this time, the Luxemarathoner NFT trading sales volume has plunged 11% from the past week.

The NFT Market Prediction

The global non-fungible token market has showcased a strong resilience amid the recent fear, uncertainty, and doubt in the NFT market. FUD erupted a  few weeks ago after the United States Securities and Exchange Commission launched scrutiny of NFT marketplaces, starting with OpenSea. Since the NFT market appears to have successfully navigated this recent market tide, the market is expected to record another positive growth this coming week.

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