NFT Sales Surge 17%, New Collection Sees 470% Sales Growth

Despite a slight slowdown in the cryptocurrency market, the NFT sector is thriving, with sales volumes rising by 17.16% to reach $130.7 million. New NFT collections are also performing well, particularly a newcomer that has achieved an impressive 470% growth in sales.

Key Takeaways

NFT sales increased by 17.16% to $130.7 million.
The number of NFT buyers rose by 138.96%, reaching 259,264.
Ethereum continues to lead the NFT market with $41.3 million in sales.
Newcomer collection XSY Deposit on Avalanche reported a staggering 470% sales increase.
Bitcoin and Solana also showed significant sales growth, with Bitcoin at $22.6 million and Solana at $8.9 million.

NFT sales jump 17% to $130.7m, Newcomer collection boasts 470% sales growth

Main Content

Despite a minor pullback in the cryptocurrency market, the NFT industry is experiencing significant growth. According to recent data from CryptoSlam, NFT sales volumes surged by 17.16%, reaching a total of $130.7 million.

Market activity has notably intensified, with the number of NFT buyers climbing by an impressive 138.96% to 259,264. Meanwhile, the count of NFT sellers also increased by 98.69% to 137,347. However, NFT transactions experienced a slight dip of 1.14%, totaling 1,498,668 transactions.

From CoinMarketCap's data, Bitcoin has recently dipped to around $103,000 after temporarily breaching the $105,000 mark. In contrast, Ethereum has shown a 7% recovery over the past week, stabilizing around the $2,500 level. The overall market cap for cryptocurrencies currently stands at $3.29 trillion, a decrease from last week’s $3.33 trillion.

Ethereum remains the leading blockchain for NFT sales, bringing in $41.3 million, which is up 21.47% compared to the previous week. Its wash trading has decreased by 14.85%, down to $4.5 million. Bitcoin now sits in second place with $22.6 million in sales, showcasing substantial growth of 53.53%. Polygon has fallen to third place, reporting $14.5 million in sales, a drop of 22.85%, although its wash trading surged wildly by 49,260.97% to reach $1.3 million.

Following Polygon, Mythos Chain claims the fourth position with $13.3 million in sales, down 19.62%, while Solana rounds out the top five with $8.9 million and a notable 17.31% increase in sales.

All blockchains have seen a rise in buyer counts. Bitcoin recorded a remarkable growth of 275.4%, followed by Solana at 237.33% and Polygon at 233.6%.

In the collection rankings, Courtyard on Polygon retains the top spot despite a 31.02% decline, registering $11.7 million in sales. This collection has faced declines in several metrics, including a 29.87% decrease in transactions and a 39.82% drop in sellers. DMarket holds the second position with $8.2 million, a fall of 28.01%.

Bitcoin’s BRC-20 NFTs have soared to third place, achieving $7.1 million in sales, marking a staggering increase of 107.81%. CryptoPunks has climbed to fourth place, hitting $7 million in sales with a 97.09% growth, boosting metrics across the board, including transactions, buyers, and sellers.

The newcomer collection, XSY Deposit on Avalanche, made a notable debut at fifth place with sales of $6.8 million, reflecting an extraordinary 469.59% growth.

Notable high-value sales from this week include:

(Continue with specific high-value sales here, as per the original article.)