NFTs Thrive as Crypto Market Faces a Dip
The NFT market is thriving despite a slight downturn in the broader crypto space. Sales volume has surged 17.16%, reaching $130.7 million,according to CryptoSlam data.
Market activity has also spiked significantly. The number of NFT buyers has soared by 138.96%, hitting 259,264. Sellers have also increased by 98.69%, totaling 137,347. Though, transaction numbers have seen a minor dip of 1.14%.
In contrast, Bitcoin’s price has fallen to around $103,000 from its peak of $105,000. Ethereum has shown some recovery, gaining 7% over the past week and stabilizing at around $2,500. The global crypto market cap now stands at $3.29 trillion.
Ethereum is still the leading blockchain for NFTs, with sales reaching $41.3 million, up 21.47% from last week. Bitcoin has also made significant strides, growing NFT sales by 53.53% to $22.6 million.
Top NFT collections highlight this growth. Courtyard on polygon leads in sales despite a 31.02% decline. DMarket follows, though it has experienced a 28.01% drop.Notably, BRC-20 NFTs on Bitcoin have surged to third place with a 107.81% increase in sales.
Some high-value NFT sales this week include CryptoPunks and Mutant Ape Yacht Club collections,fetching prices as high as $384,286 and $204,711 respectively.
