The non-fungible token (NFT) market is showing some decent growth amidst Bitcoin's historic jump to over $100,000.
The cryptocurrency price rally continues as Ethereum (ETH) consolidates its position, rising 3.5% in the past 24 hours and regaining the $4,000 level.
The global cryptocurrency market capitalization expanded to $3.67 trillion from $3.42 trillion last week. This is a 2.3% increase from the previous day, with Bitcoin (BTC) trading around $99,611 at last check on Saturday. See below.
Source: CoinGecko
According to the latest data from CryptoSlam, the NFT market has experienced a significant rise, with total sales reaching $196.2 million. This is a 34.23% increase from last week's $146.5 million.
Market indicators show expansion across all major indicators.
NFT buyers increased to 693,833 people, showing a healthy growth of 20.29% NFT sellers increased by 15.97% to 402,069 people NFT transactions decreased slightly by 1.92% to 1,405,054 people
Ethereum leads with significant growth
The Ethereum NFT blockchain was the best performer, with sales nearly doubling to $100 million. This represents an increase of 97.33% over the past 7 days. The network has 61,020 buyers, representing a growth of 23.15%. Notably, wash trades also increased by 52.79% to $18.2 million, indicating increased market activity.
Source: Blockchain by NFT sales volume (CryptoSlam)
Bitcoin's NFT ecosystem remained in second place but experienced a slight decline of 6.84%. Bitcoin Network's revenue was $45.1 million. However, the network continues to show strong user engagement with 67,188 buyers, an increase of 22.38% sequentially.
Solana (SOL) remained in third place with sales of $16.2 million. Solana only increased by 6.58%. However, the network has strong user participation, with 269,871 buyers.
Mythos Chain and ImmutableX (IMX) rounded out the top five with sales of $11.2 million and $10.6 million, respectively.
A stubby penguin leads the collection ranking
The announcement of the PENGU token launch propelled Pudgy Penguins to the top spot with $21.6 million in sales. This represents an increase of 384.26% over the past 7 days.
CryptoPunks follows with $21.3 million in sales, showing impressive growth of 173.86%. BRC-20 NFTs rose to third place with sales of $9.9 million, while Guild of Guardians Heroes and Uncategorized Ordinals rounded out the top five with sales of $8.9 million and $8.4 million, respectively.
Top NFT Sales: Data from CryptoSlam
This week's notable personal sales include:
Uncategorized Ordinals #876 sold for $7,512,996 (76.9998 BTC) CryptoPunks #2202 sold for $455,287 (125 ETH) MADinArt 18: iSteef #asset18 sold for $388,073 (365,481.5277 ADA) Azuki #5889 sold for $362,345 (100 WETH) Autoglyph #328 sold for $328,314 (90 WETH)
This week's data reflects a maturing NFT market with significant growth in both established collections and new entrants.
