The past week witnessed a surge in non-fungible token (NFT) sales, with the Bitcoin (BTC) network leading the charge by registering transactions totaling a staggering $423,004,860. This marked a significant increase of over 32% compared to the previous week and highlighted the third consecutive week of robust growth in the NFT market.

Bitcoin Leads NFT Transactions

According to data compiled by Cryptoslam.io, Bitcoin emerged as the dominant force in NFT transactions, recording $160.37 million in sales, representing an impressive surge of 80.45%. Ethereum (ETH) closely followed with $159.64 million in transactions, marking a respectable 14.41% increase in ETH-based NFT sales.

Other notable blockchains, including Solana (SOL), BNB Chain (BNB), and Mythos Chain (MYTH), also experienced substantial growth in NFT sales during this period. Solana recorded approximately $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.

Top NFT Collections and Individual Transactions

The week’s top-grossing NFT collections were led by Bitcoin’s Uncategorized Ordinals, generating $41,210,717 in sales. Following closely was the NodeMonkes collection, which achieved $35,128,917 in transactions. Other leading collections included Pandora, Creepz, and $NATCATS, rounding out the top five NFT collections by sales volume.

Individual transactions also saw remarkable figures, with NFTs like “Burgie” on the Bitcoin blockchain fetching $1.44 million and a Solana-based NFT titled “Composable Restaking Position” changing hands for $1.1 million. Ethereum’s “Lif3 v3 Position” NFT commanded $597,800, while a BNB Chain “Lockdeal” NFT was acquired for $416,504.

Marketplace Trends and Analysis

Despite the surge in NFT sales, popular marketplace Opensea faced a significant downturn in February. Data from the analytics platform Dune revealed a substantial decrease in sales on Opensea, with only 33% of the total NFT sales in February. Active users on the platform also declined, with only 103,000 users making at least one sale in February.

Overall, the NFT market continues to show resilience and growth, with Bitcoin leading the way in transactions and sales volume. Stay updated with the latest news and trends in the cryptocurrency world on Global Crypto News.

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