Despite the overall decline in the cryptocurrency market, the non-fungible token (NFT) market has shown resilience with a 4.5% increase in sales volume, reaching $102.8 million this week.

Current Market Overview

Over the past seven days, Bitcoin’s price has slipped below $83,000, while Ethereum remains steady around the $1,800 mark. The global crypto market cap has dropped to $2.71 trillion, down from $2.77 trillion last week.

According to the latest data, last week’s NFT sales volume was $100.9 million. This week’s performance reflects a slight recovery for the sector, despite overall challenges in the broader crypto market.

Rising Interest in NFTs

The number of NFT buyers has surged by 28.9% to 451,436, while NFT sellers have grown by 26.5% to 285,272. However, the total number of NFT transactions has dipped by 2.8%, totaling 1,614,680 transactions this week.

Ethereum Maintains Its Dominance

The Ethereum blockchain continues to lead the NFT market, recording $32 million in sales—a 19.4% increase from the previous week. Ethereum also accounts for the majority of wash trading, totaling $2.6 million, though this figure has declined by 9.9% compared to last week.

Other Blockchains in the NFT Market

  • Polygon: Secured the second spot with $18.1 million in sales, reflecting a 33.1% increase.
  • Solana: Dropped in rankings with $8.7 million in sales, a 4.4% decrease.
  • Mythos Chain: Ranked third with $13.7 million in sales, despite a 12.8% weekly decline.
  • Bitcoin: Recorded $10.1 million in NFT sales, marking a significant 40.7% drop.

Top NFT Collections

Among the top-performing NFT collections this week, Courtyard on Polygon claimed the top position with $15.7 million in sales, up 33.1%. DMarket came in second with $8.5 million, though this represents an 18.3% decline from the previous week.

CryptoPunks saw a remarkable 141.4% growth in sales, reaching $6.3 million. This surge was highlighted by the most notable NFT sale of the week: CryptoPunks #2967, which sold for 420 ETH, equivalent to $843,070.

Other Noteworthy Collections

  • Guild of Guardians Heroes: Ranked fourth with $5.5 million in sales, a slight 1.8% decrease.
  • Bitcoin’s BRC-20 NFTs: Rounded out the top five with $2.7 million in sales, down 19% from last week.

Top Individual NFT Sales

In addition to the CryptoPunks #2967 sale, other high-value NFT sales this week include:

  • CryptoPunks #6935: Sold for 135 ETH ($271,890)
  • CryptoPunks #3007: Sold for 120 ETH ($239,342)
  • CryptoPunks #2301: Sold for 115 ETH ($234,959)
  • Autoglyphs #364: Sold for 105 ETH ($210,172)

The NFT market’s ability to maintain growth in sales volume and attract new buyers highlights its continued relevance, even amid broader market fluctuations. With Ethereum retaining its dominance and collections like CryptoPunks achieving significant success, NFTs remain a compelling sector for both new and experienced investors alike.

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