NFT Market Flourishes With an 11.62% Rise This Week; Largest Ordinal Inscription Fetches Record 8 BTC

Sales of Non-fungible tokens (NFTs) have witnessed a notable uptick this past week, climbing 11.62% to hit $442.02 million over the previous seven days. The most significant transaction was the sale of the ‘Alien’ Cryptopunk #3,100, donning a headband, for $16 million, with Bitcoin-based NFTs claiming the lead in sales volume across 22 different blockchains.

7-Day NFT Sales Jump 11.62%

This week saw another increase in NFT transactions, with Bitcoin-based NFTs at the forefront, amassing $166,090,817 in sales. The demand for Bitcoin digital collectibles soared by 14.26% from the previous week, according to cryptoslam.io figures.

Leading the charge were two collections on the Bitcoin blockchain, with Uncategorized Ordinals and Nodemonkes drawing in $41.46 million and $37.02 million, respectively. The Natcats Tap NFTs collection also made a significant impact, gathering $11,227,067 in sales, securing the fourth position.

Ethereum-based NFT transactions were hot on Bitcoin’s heels, registering the second-highest sales at $165,264,274. Cryptopunks led the Ethereum collections, becoming the third-largest in weekly sales with $27,041,685.

Additionally, Bored Ape Yacht Club (BAYC) and Pudgy Penguins contributed significantly to Ethereum’s success this week, securing sales between $11,210,023 and $10,978,077. Overall, Ethereum NFT sales enjoyed an 11.72% increase from the preceding week.

Ranking third to fifth in NFT sales were the Solana, BNB Chain, and Mythos Chain blockchains. The Blast blockchain experienced the most substantial weekly growth, surging 196.64% to reach $5,306,912 in sales.

Bitcoin.com News highlighted the sale of the ‘Alien’ Cryptopunk #3,100 for $16 million as the week’s pinnacle. Notable sales included Solana’s Boogle #071 for $355,368 and an Uncategorized Ordinal NFT for $353,833.

Moreover, the largest Ordinal inscription, the Runestone, was auctioned for 8 BTC ($544,713) on Friday. Leonidas, the Runestop creator, stated that all proceeds from this auction would support the network fees for the Runestone airdrop initiative.

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

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