The NFT market is carrying out a strong recovery where NFTs are staging their comebacks, with buyers activity almost tripling and sales volumes increasing 30.09% to $173.2 million.
New data from Cryptoslam reveals that while NFT buyers and sellers have skyrocketed, total transactions have fallen. This suggests that participation in new markets is concentrated on higher value trading.
Ethereum led the pack with a profit of 85% per week, but Wash Trading rose 354%. Collections such as Cryptopunks and Bored Ape Yacht Club have posted eye-catching sales spikes. It emphasizes that blue chip NFTs continue to drive the market even in the background of turbulent cryptocurrency. Read more:
summary
- NFT sales rebounded strongly at 30% growth to $173.2 million
- The boring APE Yacht Club dominated both collection rankings and individual sales
- When buyers returned, market participation was almost tripled
Market participation was up 190.41% for NFT buyers to 214,716, while NFT sellers increased by 168.71% to 115,289, according to data from Cryptoslam.
However, NFT transactions fell 10.65% to 1,553,949.
A sales jump is taking place as Bitcoin (BTC) prices fell to the $117,000 level after hitting a new $124,000 ATH.
At the same time, Ethereum (ETH) fell to $4,400 after hitting $4,700. The global crypto market capitalization is currently at $3.97 trillion.
Ethereum Wash Trading Jump
Ethereum strengthened its key position with $155.4 million sales, up 85% from the previous week.
Ethereum’s wash trading also rose 353.99% to $30.1 million.
The BNB (BNB) chain rose to second place at $18.1 million, up 33.48%. Polygon (POL) fell to third place at $11.5 million, down 35.51%.
Source: Blockchain based on NFT sales volume (Cryptoslam)
Despite this decline, Polygon’s washing trade surged 605.87% to $46,605.
Mythos Chain remains in fourth place, down 3.52%, at $9.3 million. Solana (Sol) is fifth at $8.9 million, up 10.14%.
Immutable (IMX) rose to sixth place at $8 million, representing an increase of 30.62%. Bitcoin fell to seventh place, down 69.33% at $4.4 million.
Buyers are growing on most blockchains, with polygon leading at 885% growth rate followed by Bitcoin at 712.30% and 546.26%.
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Boring Monkey Yacht Club Sale Jump 500%
Cryptopunks recovered the top spots in the collection rankings, surged by 90.95% with $21 million sales. The collection shows trading growth (121.05%) while maintaining a stable number of buyers and sellers.
The boring APE Yacht Club jumped to second place at $15.6 million, up almost 500%. This collection has more than doubled its transactions (161.40%) at both buyers (22.41%) and sellers (20%).
Polygon courtyards came in third place, down 35.22% at $10.3 million. This collection saw a significant decline in buyers (67.81%) and sellers (48.80%).
Spinnftbox on the BNB chain holds its fourth position at $7.2 million, representing a 56.17% increase. Pudgy Penguins sits fifth, with $6.3 million, up 31.51%.
Here are some notable high value sales this week:
- Boring APE Yacht Club #4795 is for sale for 200 ETH ($909,183)
- Boring APE Yacht Club #2337 is for sale for 140 ETH ($634,809)
- Boring APE Yacht Club #9670 is for sale for 140 ETH ($633,982)
- Boring APE Yacht Club #7706 is for sale for 140 ETH ($633,982)
- The Boring APE Yacht Club #9670 is for sale for 100 ETH ($453,435)
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