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The non-fungible token has experienced a sharp rise in sales volume after suffering from a brutal downturn in the past several months. The NFT market began sometime mid-year, leaving most NFTs nearly worthless. The NFT market now seems back to an upside trend.
NFT Sales Pump 14% This Week
Data compiled by CryptoSlam.io, an on-chain market data aggregator, shows that the global NFT market has retested some hype this week. In the past seven days, the NFT market has recorded a trading sales volume of $70 million, representing a 14.07% spike from the past week.
Source: cryptoslam.io, nft sales past seven days
During this period, the number of crypto users trading non-fungible token collections has increased slightly. In the past seven days, the NFT market has seen more than 500,000 collectors buying NFTs and more than 700,000 users selling their NFTs, representing an increase of 17.77% and 15.82%.
Non-fungible token hosted on Ethereum, the largest and most traded blockchain for NFTs, has been the top most traded NFT collection this week. Ethereum-based NFTs have attracted a trading sales volume of $37 million in the past seven days. Ethereum NFTs are 19.60% this week.
Source: cryptoslam.io, NFT sales by blockchain
Digital collectibles hosted on Mythos Chain have been the second most traded NFT collection this week. In the past seven days, the NFT collections have amassed a trading sales volume of $9.5 million. Mythos Chain NFTs are up 5.30% this week.
This week, non-fungible tokens hosted on Solana and Immutable X blockchain networks have been the third and fourth most traded NFT collections. In the past seven days, Solana-based NFTs have recorded a trading sales volume of $6.6 million, while Immutable X has a trading sales volume of $4.5 million. Solana NFTs are up 23.82%, while Immutable X NFTs are up 45%.
Digital artefacts hosted on Bitcoin, the popular blockchain network powering the flagship crypto “Bitcoin”, are other NFT collections that have significantly increased sales volume this week. In the past seven days, Bitcoin Ordinals are up 20.96%, recording a sales volume of $2.9 million.
Source: cryptoslam.io, Bitcoin NFT trading activity
Most-Traded NFT Collections This Week
Source: cryptoslam.io, top selling NFT sales past 7 days
1. DMarket NFT Collections
DMarket, an NFT collection from the DMarket NFT collection hosted on Mythos Chain, has been the most NFT collection this week. DMarket NFTs have attracted a trading sales volume of $9.4 million in the past seven days. DMarket NFTs are up 5.20% in sales this week.
2. Gods Unchained NFTs
Gods Unchained, an NFT collection allowing gamers to participate in the digital trading card game Gods Unchained, has been the second most traded NFT collection this week. In the past seven days, the NFT collection has attracted a trading sales volume of $4.4 million. Gods Unchained NFTs are up 48.13% this week.
3. Bored Ape Yacht Club NFTs
Bored Ape Yacht Club, an all-time top-selling NFT collection from the digital asset incubation studio Yuga Labs, has been the third most traded NFT collection this week. In the past seven days, the Bored Ape Yacht Club NFT collection has recorded a trading sales volume of $4.3 million. Bored Ape NFTs are up 14% in sales this week.
4. The Winds Of Yawanawa NFTs
The Winds of Yawanawa, an NFT collection featuring a limited supply set of 1,000 digital art pieces from the Turkish-American new media artist Refik Anadol in partnership with the Brazilian Yawanawá community, has been the fourth most traded NFT collection this week. The NFT collection has attracted a trading sales volume of $3.5 million in the past seven days.
5. CryptoPunks NFT Collection
CryptoPunks, an NFT collection previously from the digital asset firm Larva Labs featuring a fixed set of 10,000 NFTs, has been the fifth most traded NFT collection this week. In the past seven days, the NFT collection has amassed a trading sales volume of $2.4 million. The NFT collection is up 79% in sales this week.
6. Sorare NFTs
Sorare, an NFT collection from the fantasy sport cryptocurrency-based video game hosted on Ethereum, has been the sixth most traded NFT collection this week. In the past seven days, the NFT collection has recorded a trading sales volume of $2.2 million. Unfortunately, Sorare is down 2.41% in sales this week.
7. $SAT BRC-20 NFTs
$SAT BRC-20 NFTs, an NFT collection hosted on the Bitcoin network similar to the renowned ERC-20 tokens standard, are the seventh most traded NFT collection this week. In the past seven days.$SATs has recorded a trading sales volume of $1.9 million. This ordinal collection is up 45.59% in sales this week.
8. DraftKings Reign Makers NFTs
Reign Makers, an NFT collection from the DraftKings NFT marketplace, has been the eighth most traded NFT collection this week. In the past seven days, DraftKings Reign Makers has amassed a trading sales volume of $1.9 million. Reign Makers NFTs are down 39% this week.
9. Mutant Ape Yacht Club NFTs
Mutant Ape Yacht Club is another NFT collection from the digital asset incubation studio Yuga Labs featuring a limited edition of 20,000 NFTs hosted on the Ethereum network. Mutant Ape Yacht Club has been the ninth most traded NFT collection this week. In the past seven days, the NFT collection has amassed a trading sales volume of $1.4 million.
10. The Captainz NFT
The Captainz is an NFT collection of 9,999 unique digital collectibles hosted on the Ethereum blockchain. The Captainz has been the tenth most NFT collection this week, recording a trading sales volume of $1.1 million. The Captainz NFT collection is up 157% in sales this week.
CryptoPunks # 6704 has been the most expensive NFT collection this week, selling for $618,715 seven days ago. The CardaniansLoyaltyTwo #0095 has been the second most costly NFT collection this week, selling for $159,096 three days ago. Halmonious Realms #2128 was the third most expensive NFT, selling for $50,000 five days ago.
Source: cryptoslam.io, most expensive NFTs past 7 days
The NFT Market Prediction
After suffering a brutal comedown in the past several months, the non-fungible token market is again showing signs of growth, with trading sales volume increasing recently. The NFT market requires a small market catalyst like the highly anticipated approval of Bitcoin ETF or any other to boom again.
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