NFT Market Sees Gains for Second Consecutive Week, Sales Up 10.95%

Non-fungible token (NFT) sales increased by 10.95% this week compared to the previous week, marking the second consecutive week of gains. Despite a 76.7% drop in the number of buyers, blockchain-issued digital collectibles achieved $141.73 million in sales.

NFT Market Trends: Bitcoin and Ethereum Lead Sales Volume

In the previous week, NFT sales had risen by 7.51%, and this week they went up by another 10.95%, amounting to $141.73 million in digital collectible sales. The most expensive NFT sold during this period was an Ethereum Name Service domain name, fetching $587,194 five days ago. The second-highest sale was Protoshroom #6, which sold for $237,373. Additionally, Polygon’s TTAvatars #1280003 sold for $100,500 three days ago.

The top digital collectible collection by sales volume this week was Pizza BRC20 NFTs, with $22.02 million in sales. Immutable’s Guild of Guardians followed, generating $8.3 million. Pizza BRC20 NFT sales soared by 561.67% compared to the previous week, while Guild of Guardians experienced a 31.61% increase. Ethereum Name Service (ENS) secured the third spot with $5.44 million in sales.

ENS domain name sales saw a significant rise, up 1,587.02% from the previous week. Although there were numerous ENS sales, Bitcoin led the week in NFT sales volume with $43.53 million, a 31.84% increase. Ethereum came in second with $40.97 million in NFT sales, a 17.75% rise. Polygon ranked third with $17.51 million, though its NFT sales declined by 6.82%, according to cryptoslam.io stats.

Overall, this week was favorable for NFT sales compared to the previous two weeks. With Bitcoin leading in sales volume and notable increases in specific collectibles like ENS domain names, the market dynamics may be shifting towards more unique digital assets. This trend could indicate a new phase within the NFT space or might not be significant at all. Only time will tell if these changes represent a lasting shift or a temporary fluctuation.

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

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