NFT Sales Soar 24% as Ethereum Takes the Lead This Week

Based on the metrics collected from Aug. 17 to Aug. 24, 2024, the non-fungible token (NFT) market experienced a lively 24.33% boost in sales compared to the previous week. Sales reached an impressive $99.05 million, with Ethereum-based NFTs leading the charge at $36.62 million.

NFT Market Booms With Ethereum at the Helm Reaching $99M in Sales

This week, cryptoslam.io metrics show the NFT scene saw a healthy 24.33% uptick from the previous week. Not only that, but the number of NFT buyers shot up by 42.96%, and sellers weren’t far behind, with a 41.53% increase. Ethereum took the crown as the top blockchain for NFT sales, raking in $36.62 million. Following closely was Solana, which generated $18.43 million, marking a 14.4% rise in sales.

Polygon secured the third spot, amassing $12.52 million in NFT sales, while Bitcoin-focused NFTs came in just under that with $12.14 million. Mythos rounded out the top five chains, bringing in a bit over $5 million. Among collections, Ethereum’s Cryptopunks led the pack with $7.65 million in total sales.

Mythos’ Dmarket claimed second place by pulling in $4.99 million, followed by Ethereum’s Bored Ape Yacht Club (BAYC), which brought in $3.59 million this week. The priciest NFTs this week weren’t as extravagant as in previous weeks. The top sale was Arbitrum’s GETH Locked Deposit, which fetched $256,000. An Ethereum NFT named Zoth Nibiru sold for $250,000, and Solana’s Boogle #061 changed hands for $200,000 just five days ago.

The boost in NFT sales, coupled with the significant increase in buyers and sellers, hints at a renewed enthusiasm for digital collectibles across various blockchains. While Ethereum continues to dominate, other chains like Solana, Polygon, and Bitcoin are making strides, indicating a more diverse market. The comparatively moderate prices of the top NFTs this week might suggest a more cautious approach from investors.

What do you think about the NFT sales action over the last seven days? Share your thoughts and opinions about this subject in the comments section below.

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