The State of NFTs in the Past Seven Days
If you’ve been keeping an eye on the non-fungible token market, you may have noticed that it’s been flourishing. The market has experienced a surge in sales volume over the past week, reaching $238 million and representing a 40% increase from the previous week.
Bitcoin Ordinals Lead The Short Bull Run
Interestingly, NFT collections hosted on the Bitcoin blockchain network have outperformed Ethereum NFTs, with a trading sales volume of $100 million compared to Ethereum’s $93 million. In addition, digital collectibles on Solana and Polygon blockchain networks have also seen increased trading sales volumes.
Five Most Traded NFTs In The Past 7 Days
$SAT BRC-20 NFTs
The $SAT BRC-20 NFT collection hosted on the Bitcoin network has been the top seller, amassing a trading sales volume of $32 million, up by 9.18% from the previous week.
CryptoPunks NFT Collection
The CryptoPunks NFT collection comes in second place with a trading sales volume of $15 million, up by 95% during this period.
Bored Ape Yacht Club NFT
Bored Ape Yacht Club is the third most traded NFT collection this week, recording a trading sales volume of $12 million, marking a 27% spike from the previous week.
$RAT BRC-20 NFTs
The $RAT BRC-20 NFT collection hosted on the Bitcoin blockchain network has raised a trading sales volume of $12 million, up by 69% from the previous week.
$BTCs BRC-20 NFTs
Lastly, the $BTCs BRC-20 collection hosted on the Bitcoin blockchain network has amassed a trading sales volume of $6.9 million, showing a 252% spike from the previous week.
Most Expensive NFT Collections This Week
Token Vesting Plans #284 has been sold for $3.4 million, making it the most expensive NFT collection. Uniswap V3 Positions NFT-V1 #07 is second at $922,163, followed by $BTCs BRC-20 at $376,307.
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Hot Take: The Future of Non-Fungible Tokens
This surge in the global non-fungible token market is indicative of its potential longevity and continued growth as collectors and traders continue to show strong interest. With increasing sales volumes and high-value transactions, it’s clear that NFTs are here to stay as a prominent part of the digital asset landscape.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.