The NFT market has witnessed a strong recovery in the past 7 days as total transaction volume increased by 14.39%, reaching 134.3 million USD, marking a positive reversal compared to the previous week. This is a sign that the appeal of NFTs is returning strongly, attracting a large number of new buyers and sellers. The article will analyze in detail the NFT market developments over the week, including the number of trading participants, revenue on prominent blockchains along with the leading NFT collections by sales, helping you gain an in-depth and updated view of the latest trends in this cryptocurrency field.
NFT Market Analysis: Overview of Sales and Participants
According to updated data from CryptoSlam, the number of NFT buyers in the week reached 1,061,348, up 50.56% compared to the previous week, indicating a significant increase in demand and interest in this digital asset. At the same time, the number of sellers also increased by 8.9%, with over 38,494 active wallets, suggesting that the market is becoming more vibrant.
Although the number of participants increased, the number of NFT transactions slightly decreased by 2.94%, down to 1,646,525 transactions in the week. This reflects a concentration of transactions on higher-quality collections and projects, rather than a large volume of scattered transactions. This volatility helps balance the market and avoid unhealthy pump and dump phenomena.
NFT sales by major blockchains
Immutable continues to lead with recorded sales of 46,148,821 USD, an increase of 81.73% in the past week, affirming its strong position in the NFT ecosystem. Ethereum ranks second with revenue of 26.9 million USD, an increase of 42.96%, with wash trading volume also increasing by 11.87%, reaching nearly 1.8 million USD.
Polygon slipped to third place with sales of 16.9 million USD, down 24.73%, along with wash trading decreasing sharply by 96.86%, to 33,869 USD. Mythos Chain and Binance Smart Chain (BNB) respectively hold the fourth and fifth positions with sales of 14.2 million USD and 9.87 million USD, slightly increasing by 1.57% and 25.14%. Bitcoin ranks sixth with over 7.9 million USD, down 2.47% compared to the previous week.
Buyer activity on prominent blockchains
Buyer activity surged significantly across most major blockchains, with Arbitrum recording a 110.87% increase in the number of buyers, placing this system in the lead for growth. Polygon followed with a 35.63% increase, followed by Solana with a 27.41% growth in buyers.
This increase demonstrates that Layer 2 blockchains and open solution platforms are still being heavily trusted and actively used by the community for NFT transactions.
Top NFT collections by sales
Guild of Guardians Heroes continues to hold the position of the highest-selling NFT collection, with 28.33 million USD in revenue, an increase of 86.33%. This collection greatly benefits from the strong development of Immutable, becoming a favorite choice for professional NFT investors.
Courtyard on Polygon slightly decreased in sales to 16 million USD, down 3.31%, accompanied by a reduction in buyers by up to 75.19%. Meanwhile, CryptoPunks on Ethereum, despite maintaining a sales figure of 2 million USD, saw a 30% drop in the number of buyers while sellers increased by 15.38%, indicating stagnation in this collection, once regarded as a symbol of NFTs.
Bored Ape Yacht Club is developing quite positively with a sales increase of 22.72%, while the number of transactions and the number of buyers and sellers all increased by over 40%, demonstrating the sustainable appeal from the community of fans and investors.
Gods Unchained Cards also recorded an impressive increase of 102.88% in sales to 7.79 million USD, along with a nearly 50% increase in buyer activity, marking a strong comeback in the past week.
NFT transaction market share distribution across platforms
With a market share of up to 88.9% of NFT transactions on Ethereum, OpenSea remains the leading and most familiar trading platform for most players and investors. Blur holds the second position with 10.1% market share, continuing to develop as a potential competitor in the NFT trading segment.
The dominance of OpenSea indicates stability and reliability, contributing to user trust in the context of an increasingly diverse and competitive NFT market.
Source: https://tintucbitcoin.com/nft-phuc-hoi-giao-dich-tang-manh/
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