The global NFT market is recovering! During the previous week, sales volumes increased to $115 million, an impressive 10.85% increase. The Ethereum-based NFT trading market has skyrocketed. That’s a remarkable increase of more than 55% over last week. Although Bitcoin and Solana gained significantly as well, Ethereum’s dominance shows that its significance in the digital asset sphere is still strong. Collections, such as Courtyard and DMarket, have been a primary force in fueling this surge. Beyond crypto art, they illustrate the fluid, quickly changing state of the NFT market.
Ethereum's Dominance and Top Collections
Ethereum-based NFT collections are powering the week’s sales explosion. They are currently the #152 cryptocurrency by market cap. They’ve produced surprisingly good trading volume of $37 million for the last seven days. This massive number further highlights Ethereum’s dominance as the primary platform for much of the world’s NFT activity, serving as a magnet for both creators and collectors.
CryptoPunks, arguably the most famous of Ethereum’s distinctly un-fungible collections, has made a remarkable return — all within the last 24 hours. They generated an astronomical $3.6 million in circulating trade sales surplus volume! Doodles sales held up well, pulling in over $5.6 million in sales the last week. These older collections are still drawing huge attention and account for a large amount of Ethereum’s overall NFT market share.
Guild of Guardians Heroes are one of the front runners in the Ethereum-based collection ecosystem. In the same time period, it gained a strong $5.5 million sales accomplishment. Seeing the unflagging popularity of these different kinds of collections is a powerful reminder of the variety and appeal that the Ethereum NFT ecosystem offers.
Rise of Mythos and Other Blockchains
Though Ethereum may be the NFT market share leader, it’s not the only blockchain that’s taking steps to embrace the NFT future. Over the last week-long Mythos Chain based NFT collections have exploded recording $15 million in trading sales volume. This impressive figure underscores how popular platforms that offer alternatives are growing in uptake. That’s a 0.03% increase from last week, showing consistent and growing interest in Mythos Chain-based NFTs.
Polygon-based non-fungible token collections are booming! In just the last week, they’ve accrued a mind-blowing trading sales volume of $19 million. This helps explain why Polygon is gaining in popularity, as its scalability and less expensive transaction fees make it a more appealing option for NFT projects.
Solana NFT trading sales volume increased by 5.72% compared to last week. This Solana-based NFT collection has already gained $7.9 million in trading sales volume over the last seven days. This impressive growth is a strong and positive sign of the health and activity of the community within Solana’s thriving NFT ecosystem.
Key Players and Market Trends
A few specific individual NFT collections have been key in leading the overall market expansion. Courtyard has blown everyone’s socks off! In only the last week it accomplished a jaw-dropping $17 million in trading sales volume. DMarket has been doing great, achieving a sales volume of $10 million for the same time.
Bitcoin-native NFT collections are booming! Tether USDT Over the past 7 days, Tether USDT has shown tremendous growth, raising a huge $13 million in trading sales — up by 4.89% last week’s clear sales total. This substantial growth is a sign of increasing appetite for Bitcoin-based NFTs. An increasing number of new users are starting to see Bitcoin as the dominant and sovereign digital assets platform.
NFT sales volume has skyrocketed recently, indicating a new wave of interest in digital collectibles. Yet the public is finally beginning to understand what these things are and what they’re intended for. As the market matures, we can expect to see further innovation and diversification in the types of NFTs being created and traded.
