The non-fungible token (NFT) market is experiencing a strong resurgence alongside the crypto rally. NFT sales increased by 29% over the week, leading to new activity levels and high-value deals.
Market Participation Growth
Recent statistics show NFT purchases have risen by 89.32% to 176,807, while the number of sellers increased by 86.08% to 112,430. A total of 1,627,841 transactions were made, representing a 20.61% increase from previous figures. Ethereum maintains its dominant position in the market with sales of $79.7 million, up 61.83% from the previous week. Bitcoin also significantly boosted its sales, reaching $24.8 million with a 60.58% increase.
Recent Collection Successes
Notable collections like Pudgy Penguins and CryptoPunks are leading the market. Pudgy Penguins surged to $9.3 million with a 247.32% growth, doubling its transactions (up 115.31%) and increasing buyers by 45%. Ordinals on Bitcoin also showed significant growth, rising to $8.6 million, benefiting from strong demand.
High-Value NFT Sales
Some of the most notable sales this week include: * Uncategorized Ordinals sold for 68.9989 BTC ($8,193,864) * V1 CryptoPunks Wrapped #5822 sold for 200 ETH ($725,130) * Autoglyphs #157 sold for 380,000 USDC ($380,000) * Autoglyphs #480 sold for 75 WETH ($252,448) * Pudgy Penguins #4039 sold for 65 ETH ($201,661). As of now, Bitcoin's price hovers around $118,000, with the total crypto market cap growing to $3.93 trillion.
Considering the ongoing growth in activity and NFT sales, the market is indeed showing impressive recovery. The increase in participant numbers and high sales indicate continued investor interest in this segment.
