#NFTMarketWatch ๐
NFT Market Gains Momentum with Major Collections Driving Growth
๐ Market Overview:
The global NFT market cap has climbed to $7.2 billion, marking a 3.36% increase in the last 24 hours.
The total market cap has officially surpassed $6 billion, led by rising demand for top-tier collections like CryptoPunks and BAYC.
Weekly NFT sales have hit $133.7 million, boosted by strong activity from Pudgy Penguins and Blur.
๐ฅ Leading NFT Collections:
CryptoPunks: Holding a 26% market share, with a major sale of 45 NFTs for 2,082 ETH (~$7.79M).
Pudgy Penguins: Now at 7% dominance, gaining steady traction in recent weeks.
BAYC (Bored Ape Yacht Club): Showing signs of recovery with a noticeable uptick in trading.
๐ Key Market Trends:
Trading Volume Spike: NFT volume reaches a 6-month high of $143 million, mainly driven by Ethereum projects.
User Growth:
Unique Buyers up 89% to 176,807
Sellers up 86% to 112,430
Cross-Chain Adoption: Ethereum remains the leader, but platforms like Solana, Polygon, and Layer-2 networks are expanding their footprint.
๐ฎ Whatโs Ahead:
Short-Term Gains: Floor prices could rise 5โ15% as demand grows.
Institutional Interest: Expect more investment from funds and institutions, adding further momentum.
Market Evolution: The focus is shifting toward mid-range NFTs with real utility, signaling a maturing and more sustainable market.
