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NFT Market Booms With 35% Sales Increase as Cryptocurrencies Rally

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NFT Market Booms With 35% Sales Increase as Cryptocurrencies Rally

As the value of cryptocurrencies has risen, the non-fungible token (NFT) market has experienced a 35.14% increase in sales compared to the preceding week. This marks the third consecutive week of sales growth in the NFT sector, with NFTs based on Bitcoin leading the charge throughout this period.

NFT Sales Surge Past $412 Million in Weekly Market Triumph

Data gathered by this weekend reveals that NFT sales over the last seven days amounted to $412,384,130, marking a 35.14% uptick from the sales figures of the previous week. Among the 21 different blockchains analyzed for NFT sales volumes, Bitcoin was at the forefront, amassing $154.82 million, a jump of 103.29%.

NFT Market Booms With 35% Sales Increase as Cryptocurrencies Rally

Ethereum closely followed with $153.94 million in sales over the same period, showing a 10.60% increase in ETH-based NFT transactions. The top five blockchains, including Solana, BNB Chain, and Mythos Chain, all reported growth in NFT sales compared to the previous week.

Bitcoin’s Uncategorized Ordinals emerged as the week’s highest-grossing NFT collection, securing $39,037,963 in sales, a significant 213.99% increase from the prior week. Following closely was the Nodemonkes collection, which achieved $32,648,037 in NFT transactions.

These two leading collections were succeeded by Pandora, Creepz, and Cryptopunks, making up the top five NFT collections by sales volume. Additional noteworthy NFT collections featured NATCATS TAP NFTs and Dmarket NFTs.

The week’s priciest NFT transaction occurred on the Bitcoin blockchain, where an NFT named “Burgie” was purchased for $1.44 million just three days ago. A Solana-based NFT titled “Composable Restaking Position” changed hands for $1.1 million, while Ethereum’s “Lif3 v3 Position” NFT fetched $597,800. Additionally, a BNB Chain “Lockdeal” NFT was acquired for $416,504 about a day ago, and a Polygon “Dfyn” NFT was sold for $100,000 two days ago.

What do you think about the NFT sales figures this week? Share your thoughts and opinions about this subject in the comments section below.