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The non-fungible token has experienced a sharp increase in sales volume after a brutal downturn in recent months. The NFT market took off sometime around the middle of the year, making most NFTs virtually worthless. The NFT market now appears to be on an upward trend again.
NFT sales pump 14% this week
Data collected by CryptoSlam.io, an on-chain market data aggregator, shows that the global NFT market tested hype again this week. Over the past seven days, the NFT market has recorded a trading sales volume of $70 million, which represents a spike of 14.07% from the past week.
Source: cryptoslam.io, NFT sales last seven days
During this period, the number of crypto users trading non-fungible token collections has increased slightly. Over the past seven days, over 500,000 collectors on the NFT market purchased NFTs and over 700,000 users sold their NFTs, for increases of 17.77% and 15.82% respectively.
Non-fungible token hosted on Ethereum, the largest and most traded blockchain for NFTs, was the most traded NFT collection this week. Ethereum-based NFTs have attracted $37 million in trading sales volume over the past seven days. Ethereum NFTs are up 19.60% this week.
Source: cryptoslam.io, NFT sales via blockchain
Digital collectibles hosted on Mythos Chain were the second most traded NFT collection this week. Over the past seven days, the NFT collections have amassed a trade sales volume of $9.5 million. Mythos Chain NFTs are up 5.30% this week.
This week, non-fungible tokens hosted on the Solana and Immutable X blockchain networks are the third and fourth most traded NFT collections. Over the past seven days, Solana-based NFTs have recorded a trade sales volume of $6.6 million, while Immutable X has a trade sales volume of $4.5 million. Solana NFTs are up 23.82%, while Immutable X NFTs are up 45%.
Digital artifacts hosted on Bitcoin, the popular blockchain network that powers the flagship crypto ‘Bitcoin’, are other NFT collections that have significantly increased sales volume this week. Over the past seven days, Bitcoin Ordinals are up 20.96%, with 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 last 7 days
1. DMarket NFT Collections
DMarket, an NFT collection from the DMarket NFT Collection hosted on Mythos Chain, was the most NFT collection this week. DMarket NFTs have attracted $9.4 million in trading sales volume over the past seven days. DMarket NFTs are up 5.20% in sales this week.
2. God’s Unchained NFTs
Gods Unchained, an NFT collection that allows gamers to participate in the digital trading card game Gods Unchained, was the second most traded NFT collection this week. Over the past seven days, the NFT collection has attracted $4.4 million in trade sales volume. God’s Unchained NFTs are up 48.13% this week.
3. Bored Ape Yacht Club NFTs
Bored Ape Yacht Club, an all-time best-selling NFT collection from digital asset incubation studio Yuga Labs, was the third most traded NFT collection this week. Over the past seven days, the Bored Ape Yacht Club NFT collection has registered a trading 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 set of 1,000 digital artworks by Turkish-American new media artist Refik Anadol in collaboration with Brazil’s Yawanawá community, is the fourth most traded NFT collection this week. The NFT collection has attracted $3.5 million in trade sales volume over the past seven days.
5. CryptoPunks NFT Collection
CryptoPunks, an NFT collection formerly owned by digital asset firm Larva Labs and containing a fixed set of 10,000 NFTs, was the fifth most traded NFT collection this week. Over the past seven days, the NFT collection has amassed a trade sales volume of $2.4 million. Sales of the NFT collection increased by 79% this week.
6. Sorare NFTs
Sorare, an NFT collection from the Ethereum-based fantasy sports video game, is the sixth most traded NFT collection this week. Over the past seven days, the NFT collection has recorded a trade sales volume of $2.2 million. Unfortunately, Sorare has fallen by 2.41% in turnover this week.
7. $SAT BRC-20 NFTs
$SAT BRC-20 NFTs, an NFT collection hosted on the Bitcoin network similar to the well-known ERC-20 tokens standard, are the seventh most traded NFT collection this week. Over the past seven days, $SATs has recorded a trading sales volume of $1.9 million. This ordinal collection increased in turnover by 45.59% this week.
8. DraftKings Reign Makers NFTs
Reign Makers, an NFT collection from the DraftKings NFT marketplace, was the eighth most traded NFT collection this week. Over the last seven days, DraftKings Reign Makers has amassed a trade 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 digital asset incubation studio Yuga Labs with a limited edition of 20,000 NFTs hosted on the Ethereum network. Mutant Ape Yacht Club was the ninth most traded NFT collection this week. Over the past seven days, the NFT collection has amassed a trade 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 was the tenth most NFT collection this week, with a trade sales volume of $1.1 million. Sales of the Captainz NFT collection are up 157% this week.
CryptoPunks #6704 was the most expensive NFT collection this week, selling for $618,715 seven days ago. The CardaniansLoyaltyTwo #0095 is the second most expensive 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 last 7 days
The NFT Market Forecast
After a brutal downturn in recent months, the non-fungible token market is once again showing signs of growth, with trading sales volume increasing recently. The NFT market needs a little market catalyst, like the long-awaited approval of Bitcoin ETF or something else, to flourish again.
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