NFT Market Sees 7.51% Increase in Sales for the Week
In the period from June 1-8, 2024, the sales of non-fungible tokens (NFTs) saw a notable uptick compared to the prior week. The total NFT sales for the week reached $133.19 million, representing a 7.51% increase.
The surge in NFT sales this week comes after a series of weeks marked by a decline in activity. Over the course of seven days, close to 90,000 buyers and sellers participated in transactions. The highest-priced NFT sale of the week was a piece from the Cardano blockchain, fetching $219,102 three days ago. Following closely behind was an Ethereum-based Cryptopunk #1,002, which sold for $193,372 two days ago.
Ethereum dominated the NFT sales landscape this week, generating $35.91 million in sales, a modest uptick of 0.33% from the previous week. Bitcoin also saw a significant increase in NFT sales, totaling $35.61 million and marking a 10.93% rise.
Solana secured the third spot with $19.17 million in sales, showing a 1.97% increase. Polygon and Immutable X followed, with Polygon witnessing a substantial 21.39% growth in sales.
The top-selling digital collectibles collection this week was Guild of Guardians from Immutable X, with sales amounting to $6.79 million, an increase of 18.54%. Bitcoin's PIZZA NFTs generated $5.91 million in sales, while Polygon's Moongirl NFTs recorded $5.77 million in transactions. The resurgence in NFT sales across various blockchains this week indicates a potential stabilization in the digital assets market.
The varied growth rates among leading platforms like Bitcoin, Solana, and Polygon suggest a diversification of the market. This upward trend over the past seven days, highlighted by standout sales in collections like Guild of Guardians, hints at a renewed interest from collectors and sets the stage for a lively summer in the NFT sector.
What are your thoughts on this week's NFT sales? Feel free to share your opinions and insights on this topic in the comments section below.