The NFT market is showing significant recovery with an increase in buyer activity and sales volume. Data from CryptoSlam highlights key trends in this dynamic digital asset space.
Recovery of Buyer Activity
According to data from CryptoSlam, the number of NFT buyers surged by 190.41% to 214,716, while the number of sellers increased by 168.71% to 115,289. However, total transactions have decreased by 10.65%, totaling 1,553,949. This suggests that market recovery is concentrated in higher-value trades.
Ethereum and Wash Trading
Ethereum maintains its leading position with sales of $105.4 million, marking an 85% increase from the previous week. Additionally, wash trading on Ethereum jumped by 353.99% to $30.1 million. In comparison, BNB Chain ranks second with $18.1 million, up 33.48%.
Success of NFT Collections
CryptoPunks has reclaimed the top spot among collections with sales of $21 million, reflecting a 90.95% increase. Bored Ape Yacht Club ranks second with $15.6 million, growing by nearly 500%. In recent days, significant sales of individual NFTs have been recorded, including Bored Ape Yacht Club #4795, which sold for 200 ETH ($909,183).
Overall, the NFT market demonstrates signs of recovery, which appears particularly impressive amidst volatility in the cryptocurrency market. The increase in sales and the strengthening position of Ethereum, along with the success of popular collections such as CryptoPunks and Bored Ape Yacht Club, highlight the importance of this segment under current market conditions.
