🌎 NFT Market Sees Resurgence Amid Crypto Gains

The NFT Market Sees Renewed Momentum Amid Broader Crypto Gains

Last week saw significant growth in the cryptocurrency market, with Bitcoin surpassing $103,000. The overall crypto market capitalization also increased to $3.6 trillion from $3.3 trillion the previous week.

NFT Market Trends

According to recent data, the NFT market experienced a resurgence in activity. While NFT sales volume rose 5.8% to $164.3 million, buyer participation soared 174.98% to 23,827. However, NFT sales fell 10.9% to $27.5 million.

Key metrics for the NFT market include:

NFT sales volume grew to $164.3 million from $155.4 million.
NFT buyers surged 115.49% to 270,108.
NFT sellers rose 107.81% to 218,676.
Transactions dipped 4.58% to 1,466,206.

Blockchain Network Performance

Ethereum NFT sales climbed 40% to $85.6 million, with buyer numbers up 52.54% to 37,913. Wash trading increased 49% to $39.2 million.

At the time of writing, Ethereum was priced at around $3,316, down 3.2% from the previous week.

Other notable blockchain networks include:

Solana dropped to third with $14.6 million, falling 30.8%.
Mythos Chain held fourth place with $12.7 million, up 2.1%.
Base stayed in fifth with $8.3 million, rising 13.82%.

Top NFT Collections

Azuki claimed the top spot with $15.4 million in sales, jumping 268.21%. The collection saw buyer numbers rise 253.45% and transactions up 272.83%.

Other top NFT collections include:

Pudgy Penguins moved to second with $8.0 million, falling 8.04%.
CryptoPunks took third place with $7.8 million, rising 126.31%.
BRC-20 NFTs fell to fourth with $7.6 million, down 7.79%.
DMarket rounded out the top five with $7.5 million, up 4.64% while keeping high volume with 271,785 transactions.