NFT Market Sees Mixed Results Amid crypto Recovery
The crypto market has seen a modest recovery, with Bitcoin (BTC) reaching $85,000 and Ethereum (ETH) up 2.4% to $1,600. However, NFT sales volume has dipped 4.7% to $95.9 million. The global crypto market cap is now $2.69 trillion.
Surprisingly, despite the drop in sales, NFT market participation has surged. NFT buyers have increased by 96.6% to 252,354, and sellers by 79.2% to 153,892. Transactions have also risen by 10.4% to 1,569,670.
Ethereum remains the top platform for NFT sales, though its volume has decreased by 38.7% to $21.6 million. Polygon (POL) is now second with $21.1 million in sales, up 21.5%. Bitcoin has climbed to third with $17.2 million, a 42.2% increase.
- Mythos chain is fourth with $14.9 million in sales.
- solana (SOL) is fifth with $6.8 million, up 7%.
Buyer count has increased across major blockchains, with Solana seeing the largest growth at 133.7%. Courtyard on Polygon leads in collection rankings with $19.5 million in sales.
However, CryptoPunks, an iconic NFT collection, has fallen to sixth place with $1.7 million in sales, down 80.5%. Despite this, individual CryptoPunk sales still lead the top NFT transactions.
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