NFT Market Revived This Week: Sales Volume Increased by 37%

The NFT market experienced a significant rise this week. Sales volume increased by 37.10%, reaching $144.8 million, showcasing investors' renewed interest and vibrancy in the market.

This increase occurred in parallel with Bitcoin rising to the $105,000 level and a modest 2.5% increase in Ethereum, reflecting a broad bullish momentum in major crypto assets.

According to COINOTAG data, the Immutable (IMX) platform has surpassed Ethereum in NFT sales volume, signaling a significant change in market dynamics.

Immutable Takes the Lead, Surpassing Ethereum

The NFT ecosystem has undergone a significant change, with Immutable (IMX) growing by 156.01% in one week, reaching $41.7 million in sales. Ethereum has fallen to second place with a stable increase of 6.69%, reaching $31.5 million in sales.

This rapid rise of Immutable indicates that different blockchain ecosystems are gaining strength in the NFT market, and investors are turning to alternative platforms that offer scalability and low transaction fees.

NFT Participation and Transaction Numbers are Increasing

As sales volume increases, participation in the NFT market is also growing. The number of buyers has exceeded 1 million with a 50.56% increase, while the number of sellers has reached approximately 39,000 with an 8.09% increase. The number of transactions has also risen by 7.88%, reaching around 1.75 million.

With new participants, the activity of rotating collectors also indicates increasing vibrancy in the NFT ecosystem. Particularly, the Polygon and Solana blockchains experienced high increases in the number of buyers, with 35.63% and 27.41%, respectively, showing that NFT interest is not limited to just large platforms.

Popular NFT Collections and New Trends in Blockchains

The Guild of Guardians Heroes collection topped the list with $24.7 million in sales, increasing its performance by 132.53%. This success parallels Immutable's rising momentum.

Polygon's Courtyard collection has grown by 36.33%, reaching $17.2 million in sales, while the Guild of Guardians Avatars ranked third with a 108.61% increase, totaling $10.3 million.

Interestingly, Bitcoin's Ordinals category made a dramatic increase of 1,556.66%, reaching $7.6 million in sales and entering the top five collections.

On the other hand, the once-dominant CryptoPunks has fallen in the rankings, reflecting changes in market preferences and dynamics.

Sales and Market Integrity by Blockchain

Bitcoin ranked third in NFT sales with $19.4 million and increased its sales volume by 22.55%. Polygon followed with $18.5 million, and Mythos Chain with $14.1 million.

BNB Chain reached $8.4 million in sales with a 47.59% growth, while Solana positioned itself in seventh place with $6.3 million.

The wash trading (artificial volume) rate on Ethereum has decreased by 2.91%, indicating an improvement in market integrity and a reduction in volume inflation. This suggests a maturing NFT market where real and healthy trading volumes are at the forefront.

High-Value NFT Sales and Market Resilience

Although the CryptoPunks collection has decreased in the overall ranking, high-value sales continue. For example, CryptoPunks #1831 and #9778 changed hands for approximately $389,846 and $377,958 (around 150 ETH).

Among other significant sales are CryptoPunks #4868 at 76.5 ETH and #5586 at 70.07 ETH. These figures indicate that despite the change in market leadership, strong demand for iconic NFT assets continues.

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