NFT Market Surges 10.44% to $136.5 Million as Bitcoin and Ethereum Rise

The non-fungible token (NFT) market experienced a notable surge, with sales volume increasing by 10.44% to $136.5 million. This marks the second consecutive week of growth for the sector, indicating a robust trend in the NFT market. The surge in NFT sales coincides with a rise in the Bitcoin (BTC) price to the $108,000 level and a 3.6% increase in Ethereum (ETH) over the past seven days. The global crypto market cap has also expanded, reaching $3.33 trillion from last week’s $3.21 trillion.

Market participation metrics have shown stability, with the number of NFT buyers remaining unchanged at 1,061,348, maintaining a 50.56% growth rate. However, the number of NFT sellers has increased by 8.09% to 38,494, while NFT transactions have declined by 19.72% to 1,357,295. This suggests that while there is a growing interest in NFTs, the frequency of transactions has decreased.

Immutable (IMX) has maintained its dominant position in the NFT market, with $43.9 million in sales, a 30.27% increase from the previous week. Polygon (POL) has climbed to second place, with $25 million in sales, a 51.53% increase. Ethereum holds the third position with $22.5 million, although this represents an 8.63% decline. Mythos Chain maintains fourth place with $14.4 million, up 2.16%, while BNB Chain (BNB) remains in fifth with $9.1 million, showing a minimal decline of 0.13%. Bitcoin sits in sixth with $8.7 million, growing 12.70%.

The buyer count has increased across most blockchains, with Polygon leading at a 35.63% growth rate, followed by Bitcoin at 23.22% and Mythos Chain at 19.32%. This indicates a strong interest in these blockchains among NFT buyers.

In the collection rankings, Guild of Guardians Heroes has maintained the top spot with $26.8 million in sales, representing a 37.72% increase. This gaming collection continues to benefit from Immutable’s strength. The Courtyard on Polygon has climbed to second place with $18.9 million, a 22.53% increase. The collection has seen growth in buyers (16.22%) while sellers declined (6.65%). The Guild of Guardians Avatars holds the third position with $9.7 million, representing a 24.19% increase. DMarket sits in fourth with $9.2 million, up 3.61%, and Gods Unchained Cards completes the top five with $7.2 million, growing 15.19%. This marks the third Immutable-based gaming collection in the top rankings.

CryptoPunks has climbed to ninth place with $2 million in sales, posting a 26.36% increase. The collection has seen growth across all metrics, including transactions (25%), buyers (12.50%), and sellers (14.29%). Notable high-value sales from this week include CryptoPunks #1831 sold for 150 ETH ($389,846), CryptoPunks #9778 sold for 150 ETH ($377,958), CryptoPunks #4868 sold for 76.5 ETH ($201,933), CryptoPunks #5586 sold for 70.07 ETH ($185,292), and CryptoPunks #7516 sold for 60 ETH ($158,378). These sales highlight the continued interest and investment in high-value NFTs, particularly in the CryptoPunks collection.