This week, the non-fungible token (NFT) market experienced a positive shift, with sales climbing more than 17% after a period of decline. Total sales reached $145.3 million, involving nearly 230,000 active buyers and sellers.

Blockchains by NFT Sales Volume

The Bitcoin (BTC) network led in NFT sales among blockchains, hitting $47.74 million—a rise of 50.33% from last week. The network also recorded more than $39,000 in wash trading, up 15.39% from the previous week. Despite the increased volume, the Bitcoin NFT space saw a nearly 96% drop in the number of active buyers, with only 2,056 addresses participating in the week’s trading.

The Ethereum (ETH) blockchain followed closely, recording more than $35 million in sales from June 2 to June 8. In the prior week, Ethereum had the highest NFT sales volume at $37.43 million. However, this week’s figures dropped slightly by 0.31%, relegating Ethereum to second place. The network’s wash trading numbers also decreased by about 6.87% to $24.7 million. In terms of buyers, Ethereum was more active than Bitcoin over the last seven days, with more than 15,000 buyers participating in NFT transactions, although this was a 59.67% drop from the previous week.

Polygon (MATIC) NFT sales saw a significant increase, rising by more than 22% to $19.63 million. Solana (SOL) followed in fourth place with $18.225 million in sales, down by 4.53%. Immutable X (IMX) also saw a surge in sales, increasing by 13.15%.

This recent uptick in activity shows that interest in NFTs isn’t just from a few major players but from a wide base of collectors and investors. It’s a community-wide resurgence, suggesting potential for sustained growth.

Top NFT Collective Sales

The highest NFT sale of the week came from the Cardano (ADA) blockchain, with an NFT selling for $219,102. Following closely was an Ethereum-based Cryptopunk #1002, which sold for $193,372. Polygon was also represented among the top NFT collectible sales, with a Matr1x Fire Weapon NFT exchanging hands for $97,685.

The fourth most expensive NFT sold in the last week was DeezNode #033 from the Solana blockchain, which went for $76,029. That price was only $2,690 more than the fifth most expensive NFT of the week, a Bitcoin Ordinal priced at $73,339.

In terms of top-performing NFT collections, Bitcoin’s PIZZA NFTs led the way, generating $17.932 million in the last seven days. Immutable X’s Guild of Guardians came in second with $7.014 million, a 23.90% increase. Polygon’s Moongirl NFTs secured the third spot with $5.799 million in sales, a 643.51% increase from the previous week.

Are NFTs Making a Comeback?

This week’s data shows various growth rates among leading platforms like Bitcoin, Solana, and Polygon, indicating a diversifying market. The upward trend, highlighted by impressive sales in collections like PIZZA NFTs, suggests renewed interest from collectors.

Several factors may be driving this renewed interest in NFTs. First, the recent market dip likely offered a buying opportunity for savvy investors looking to capitalize on lower prices. Second, the increasing utility of NFTs across various sectors, from gaming to digital art, could be attracting a diverse group of investors.

Moreover, the overall growth of the crypto market tends to positively impact NFTs. As major cryptocurrencies like Bitcoin and Ethereum increase in value, their associated NFT markets often benefit as well.

Stay updated with more cryptocurrency news on Global Crypto News (https://globalcrypto.news).

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