NFT Transactions Surge 37%, Immutable Emerges as Top Player, Eclipsing Ethereum's Dominance in Market
NFTs are on a roll, baby! With an astounding 37.1% surge in sales volume for the week, reaching a whopping $144.8 million, it's clear the NFT market is back and bigger than ever. According to CryptoSlam, this week's increase marks the most significant weekly gain in months.
You might be wondering, what's causing this huge uptick? Well, it's a combination of factors, like the recent climb of Bitcoin to the $105k mark, Bitcoin's closest competitor Ethereum's 2.5% increase, and the overall global cryptocurrency market cap inch closer to $3.3 trillion.
With all this action, NFT buyers are popping up left and right, with an impressive 50.56% increase in buyers to 1,061,348, and NFT sellers rising by 8.09% to 38,494. And we're talkin' about some serious transactions – 1,749,437 NFT transactions to be exact.
Now, here's the juicy part. Immutable, a lesser-known player in the NFT game, has dethroned Ethereum as the leading platform in sales. Immutable raked in a cool $41.7 million, while Ethereum saw a drop from its top position to claim the second spot with $31.5 million in sales. Bitcoin chills in third with $19.4 million, and POL (not MATIC, just FYI) is in fourth with $18.5 million. Mythos Chain rounds out the top five with $14.1 million.
BNB Chain and Solana are making some serious moves, entering the top rankings in sixth and seventh place, respectively. The buyer count has gone up across all major blockchains, with Polygon leading the pack at 35.63% growth, followed by Solana at 27.41% and Bitcoin at 23.22%.
Guild of Guardians Heroes has taken the number one spot in the collection rankings, with a whopping 132.53% growth and a cool $24.7 million in sales. Right behind it is Courtyard on Polygon, with a strong 36.33% growth and $17.2 million in sales. The top three is rounded out by Guild of Guardians Avatars, which has more than doubled with 108.61% growth.
Now, let's not forget the high-value sales of the week! CryptoPunks #1831 went for a cool 150 ETH ($389,846), while #9778 fetched 150 ETH ($377,958). #4868 and #5586 weren't too shabby either, selling for 76.5 ETH ($201,933) and 70.07 ETH ($185,292), respectively. And just in case you're a CryptoPunks fanatic, it's a bit of a bummer to see it disappear entirely from the top collection rankings.
So there you have it. The NFT market is on fire, and it's only looking up from here. Maybe it's time to jump on the bandwagon and start bagging some digital art or collectibles!
- Immutable, traditionally a smaller player in the NFT market, has surpassed Ethereum as the leading platform in sales this week, with $41.7 million in sales.
- The top collection in the NFT market is currently Guild of Guardians Heroes, which has experienced a significant growth of 132.53% and boasts sales of $24.7 million.
- The overall global cryptocurrency market cap is inching closer to $3.3 trillion, with Bitcoin at $105k and Ethereum also seeing a 2.5% increase.
- BNB Chain and Solana are making significant strides, entering the top rankings in sixth and seventh place, respectively.
- The cryptocurrency technology continues to evolve, with NFT buyers increasing by 50.56% to 1,061,348, and NFT sellers rising by 8.09% to 38,494.
- CryptoPunks, a well-known NFT collection, saw some impressive high-value sales this week, with several tokens fetching over 100 ETH each. However, it has disappeared from the top collection rankings.
