NFT Collections Drive Market Recovery With a 3.74% Increase in Weekly Sales

NFT sales have experienced a 3.74% increase compared to the previous week, totaling $236,234,800 over the past seven days. The latest rise defies the pattern of consecutive weeks marked by declining NFT sales.

NFT Sales Climb Higher, Defying Recent 2-Week Downtrend

The top-performing NFT collection in terms of sales this week was Bitcoin’s “Uncategorized Ordinals,” which achieved $12 million in sales, marking a significant 36.90% increase compared to the previous week. Solana’s “Froganas” collection also performed well, accumulating $7.79 million in sales, reflecting a 22.95% gain since the prior week. Meanwhile, Avalanche’s “Dokyo” collection recorded sales amounting to $7.74 million, representing a 30.39% increase week over week.

Seven day NFT sales from Jan. 27, 2024, to Feb. 3, 2024, according to cryptoslam.io statistics.

Other notable NFT collections, included the “Gods Unchained” card compilation on Immutable X and Mythos’ “Dmarket” NFT collection. Both collections experienced increases in NFT sales, rising by 25.51% and 27.27%, respectively. In terms of blockchain dominance in sales, Ethereum took the lead this week, securing $76.74 million in sales, marking a solid 2.3% increase compared to the previous week. Bitcoin followed closely, claiming the second position with $63.93 million in sales, showing a substantial 16.66% growth since the previous week.

Solana, while still performing well, secured the third rank with sales totaling $49.23 million, though it experienced a slight 8.9% decline. Additionally, in the realm of noteworthy blockchain gainers, Arbitrum made a significant leap with a 108.51% increase, while BNB Chain also exhibited a jump of 89.61% in its NFT sales performance this week. This brings us to the week’s highest-priced NFT sale, “Cryptopunk #5363,” which garnered a staggering $1.53 million just three days prior.

The NFT titled “geth locked deposit,” minted on Arbitrum, fetched a handsome sum of $344,075 merely two days back, while Solana’s “Boogle #083″ found a new owner for $253,422. There’s been a distinct number of valuable NFTs from the Axie Infinity collection sold (minted on Ronin), and this week is no different as “Durendal” was sold for $244,275 three days ago. Completing the week’s top five priciest NFTs, Bitcoin’s “Punk #60” achieved a sale price of $169,266, just past the 24-hour mark.

What do you think about this week’s NFT sales action? Share your thoughts and opinions about this subject in the comments section below.

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