NFT Collections Drive Market Recovery With a 3.74% Increase in Weekly Sales

NFT sales have experienced a 3.74% increase compared to the previous week, totaling $236,234,800 over the past seven days. The latest rise defies the pattern of consecutive weeks marked by declining NFT sales.

NFT Sales Climb Higher, Defying Recent 2-Week Downtrend

The top-performing NFT collection in terms of sales this week was Bitcoin’s “Uncategorized Ordinals,” which achieved $12 million in sales, marking a significant 36.90% increase compared to the previous week. Solana’s “Froganas” collection also performed well, accumulating $7.79 million in sales, reflecting a 22.95% gain since the prior week. Meanwhile, Avalanche’s “Dokyo” collection recorded sales amounting to $7.74 million, representing a 30.39% increase week over week.

Other notable NFT collections, included the “Gods Unchained” card compilation on Immutable X and Mythos’ “Dmarket” NFT collection. Both collections experienced increases in NFT sales, rising by 25.51% and 27.27%, respectively. In terms of blockchain dominance in sales, Ethereum took the lead this week, securing $76.74 million in sales, marking a solid 2.3% increase compared to the previous week. Bitcoin followed closely, claiming the second position with $63.93 million in sales, showing a substantial 16.66% growth since the previous week.

Solana, while still performing well, secured the third rank with sales totaling $49.23 million, though it experienced a slight 8.9% decline. Additionally, in the realm of noteworthy blockchain gainers, Arbitrum made a significant leap with a 108.51% increase, while BNB Chain also exhibited a jump of 89.61% in its NFT sales performance this week. This brings us to the week’s highest-priced NFT sale, “Cryptopunk #5363,” which garnered a staggering $1.53 million just three days prior.

The NFT titled “geth locked deposit,” minted on Arbitrum, fetched a handsome sum of $344,075 merely two days back, while Solana’s “Boogle #083″ found a new owner for $253,422. There’s been a distinct number of valuable NFTs from the Axie Infinity collection sold (minted on Ronin), and this week is no different as “Durendal” was sold for $244,275 three days ago. Completing the week’s top five priciest NFTs, Bitcoin’s “Punk #60” achieved a sale price of $169,266, just past the 24-hour mark.

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