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The NFT market has experienced significant growth, with sales volume jumping by 37.10% to reach $144.8 million. This marks one of the most notable weekly gains for the sector in recent months, drawing attention from both investors and enthusiasts alike.

Cryptocurrency Market Trends

The recent surge in NFT sales coincides with Bitcoin climbing to $105,000, alongside a modest 2.5% increase in Ethereum prices over the past seven days. The total global cryptocurrency market capitalization also saw a slight uptick, rising from $3.28 trillion to $3.29 trillion during the same period.

Increased Market Participation

Market participation within the NFT space has seen robust growth. NFT buyers increased by 50.56%, reaching 1,061,348, while NFT sellers rose by 8.09% to 38,494. The number of NFT transactions also grew, recording a 7.88% rise to a total of 1,749,437.

Immutable Overtakes Ethereum in Sales Volume

One of the week’s most striking developments is Immutable overtaking Ethereum to claim the top spot in NFT sales. Immutable recorded $41.7 million in sales, marking an impressive 156.01% increase from the previous week. This shift is noteworthy as Ethereum has dominated the market for months.

Ethereum, now in second place, generated $31.5 million in sales with a respectable growth rate of 6.69%. Interestingly, Ethereum’s wash trading volume fell slightly, dropping by 2.91% to $1.9 million.

Top Blockchain Performances

  • Bitcoin: Ranked third with $19.4 million in sales, up by 22.55%.
  • Polygon: Fourth place with $18.5 million, a 32.91% increase.
  • Mythos Chain: Fifth place with $14.1 million in sales.
  • BNB Chain: Sixth place with $8.4 million, a 47.59% surge.
  • Solana: Seventh place with $6.3 million, up by 5.30%.

Buyer growth has been evident across all major blockchains, with Polygon leading the pack at 35.63%, followed by Solana at 27.41%, and Bitcoin at 23.22%.

Top NFT Collections of the Week

The Guild of Guardians Heroes collection has claimed the top position, generating $24.7 million in sales with a remarkable 132.53% growth. Its success is closely linked to Immutable’s strong performance.

Other notable collections include:

  • Courtyard on Polygon: Second place with $17.2 million in sales, up 36.33%.
  • Guild of Guardians Avatars: Third place with $10.3 million, showing 108.61% growth.
  • DMarket: Fourth place with $8.9 million, with a minimal growth of 0.15%.
  • Uncategorized Ordinals on Bitcoin: Fifth place with $7.6 million, surging by 1,556.66%.

Interestingly, CryptoPunks, which previously held the sixth position, has dropped out of the top collection rankings entirely, signaling a notable shift in the market dynamics.

High-Value Sales Highlight the Week

Several high-value NFT sales were recorded, showcasing the continued demand for rare digital assets. These include:

  • CryptoPunks #1831 – Sold for 150 ETH ($389,846)
  • CryptoPunks #9778 – Sold for 150 ETH ($377,958)
  • CryptoPunks #4868 – Sold for 76.5 ETH ($201,933)
  • CryptoPunks #5586 – Sold for 70.07 ETH ($185,292)
  • CryptoPunks #7516 – Sold for 60 ETH ($158,378)

The NFT market continues to evolve, with shifts in blockchain dominance and collection rankings providing opportunities and insights for investors and enthusiasts alike. Stay updated on the latest trends and developments in the cryptocurrency space to make informed decisions.

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