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As Bitcoin continues to face resistance near the $100,000 mark, the NFT market saw a 1.6% decline, with total sales volume stabilizing at $146.5 million.
While Bitcoin (Bitcoin) is trading at $96,800, Ethereum (Ethereum) showed its strength by rising 3.5% over the past 24 hours to reclaim the $3,700 level. The global cryptocurrency market capitalization expanded to $3.42 trillion from $3.35 trillion last week. This represents an increase of 2.5% from the previous day.
According to the latest data from CryptoSlamWhile overall sales are down, individual blockchain networks are showing signs of recovery:
- NFT(Non-fungible token) Sales volume decreased from Last week, $160.9 million.
- The number of NFT buyers rose to 574,853, representing an increase of 27.57%.
- The number of NFT sellers increased to 342,382, showing an increase of 23.21%.
- NFT transactions decreased by 11.22% to 1,424,770.
Ethereum and Bitcoin are showing signs of recovery
The Ethereum NFT chain showed resilience with sales of $51.3 million, representing a 2.87% increase.
The network saw 49,462 buyers, representing a healthy growth of 17.33%. Notably, trading on Ethereum increased by 16.02% to reach $9.1 million, indicating increased market activity.
Bitcoin’s NFT ecosystem has maintained strong momentum. The network recorded a sales volume of $48.2 million, an increase of 6.58%. The network witnessed good growth in buyer engagement, with the number of active buyers reaching 54,903 buyers, representing 28.89%.
Solana (Sol(, while retaining third place, saw a significant decline of 37.86%, with sales falling to $15.7 million. However, the network continues to show strong user engagement with 230,954 buyers.
Mythos Chain took fourth place with sales of $10.6 million, showing a marginal decline of 1.66%. However, ImmutableX(Small and medium enterprisesIt occupied the top five places with sales amounting to $7.1 million, an increase of 14.22%.
BRC-20 and new groups lead the global rankings
BRC-20 NFTs continue to dominate with $15 million in sales despite a 10.69% decline. Uncategorized Ordinals took second place with sales of $10.3 million. Its sales also saw an increase of 81.86% in the past seven days.
Bored Ape Yacht Club re-emerged in the rankings, taking third place with sales of $7.7 million, showing a strong increase of 60.30%.
CryptoPunks came in second place with revenues of $7.7 million, despite a decrease of 14.56%.
The latest data shows several large individual NFT sales:
- Unrated arrangements #cb0 sold for $6,069,273 (63.4315 BTC)
- Unrated arrangement #486 sold for $3,583,816 (38.8087 BTC)
- Bored Ape Chemistry Club #0 sold for $199,156 (59.84 ETH)
- CryptoPunks #9663 sold for $197,113 (55 ETH)
- Axie Infinity #115792089237 sold for $178,651 (52 ETH)
NFTs continue to evolve
In 2024, NFTs are expanding their utility by integrating with gaming and decentralized finance, making in-game assets available and serving as collateral in decentralized finance platforms.
Businesses are adopting NFTs for promotional campaigns, loyalty programs and revenue generation, while tokenization of hybrid and real assets is bridging the gap between the physical and digital worlds.
Cross-platform interoperability is increasing, allowing NFTs to work seamlessly across different ecosystems. Sustainability efforts are addressing environmental concerns, with greener blockchain solutions gaining momentum.
Additionally, AI-powered NFTs are emerging, enabling personalized and interactive experiences, showcasing the evolution of NFTs beyond simple digital collectibles.
It’s worth noting that the current surge in NFT sales seems largely driven by hype. It remains to be seen whether this trend will translate into long-term growth or whether it will be short-term momentum.
