The NFT market saw a 24.33% surge in sales from Aug. 17 to Aug. 24, 2024, reaching $99.05 million, with Ethereum-based NFTs dominating at $36.62 million.
Bollywood Fever: The non-fungible token (NFT) market experienced a robust boost last week, with sales jumping by 24.33% compared to the previous period, according to data from cryptoslam.io.
From August 17 to August 24, 2024, NFT sales soared to an impressive $99.05 million, signaling a resurgence of interest in digital collectibles across various blockchains.
Ethereum-based NFTs continued to lead the market, raking in $36.62 million in sales, securing their position as the dominant force in the NFT ecosystem.
Solana followed closely with $18.43 million, marking a 14.4% increase in sales, showcasing the growing diversity and competition in the NFT space.
Polygon secured the third spot with $12.52 million in sales, while Bitcoin-focused NFTs closely trailed with $12.14 million. Mythos rounded out the top five blockchain platforms, generating just over $5 million in sales.
The surge in NFT activity wasn’t just limited to sales volume. The number of NFT buyers saw a significant increase of 42.96%, while sellers grew by 41.53%, reflecting a renewed enthusiasm and engagement in the market.
Among individual collections, Ethereum’s Cryptopunks led the charge with $7.65 million in total sales.
Mythos’ Dmarket claimed second place, bringing in $4.99 million, followed by Ethereum’s Bored Ape Yacht Club (BAYC), which earned $3.59 million over the week.
Interestingly, the highest-priced NFTs sold during this period were more moderately priced compared to previous weeks.
The top sale was Arbitrum’s GETH Locked Deposit, which fetched $256,000. An Ethereum NFT named Zoth Nibiru followed closely, selling for $250,000, and Solana’s Boogle #061 changed hands for $200,000.
The recent surge in NFT sales, coupled with the significant increase in both buyers and sellers, indicates a renewed interest in digital collectibles.
While Ethereum continues to dominate the market, other blockchains like Solana, Polygon, and Bitcoin are also making significant strides, contributing to a more diverse and dynamic NFT landscape.
The comparatively moderate prices of top NFTs this week suggest that investors may be adopting a more cautious and measured approach as they navigate the evolving market.
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