While non-fungible token (NFT) sales witnessed a substantial increase in May, demonstrating significant progress, recent data indicates that NFT sales have soared by 39.35% within just the last week alone. Furthermore, sales figures for the trailing week demonstrate that the Bitcoin blockchain maintains its rank as second in weekly sales volume.
Ethereum Dominates NFT Market with 60% Share, Bitcoin NFT Sales Capture 17% of Weekly Sales Volume
The NFT sales for this week saw a 39.35% growth from last week, amounting to $202.22 million in global sales. The quantity of NFT buyers also expanded by 37.45%, reaching the current week’s total of 724,193 buyers. Besides those two data points, NFT transactions have ascended to 2,350,977 transactions, marking a 6.94% increase compared to the preceding week. In the meantime, sales originating from the Ethereum blockchain led the $202 million in sales by collecting approximately $123.17 million.
The ETH-based NFT sales represented 60.97% of all NFT sales documented over the past week. Bitcoin NFT sales secured second place with $34.97 million in revenue during the previous seven days. These Bitcoin-based NFT sales constituted roughly 17.31% of the combined number of NFTs sold this past week. In terms of NFT sales distributed across 21 blockchains, Polygon, Solana, and Mythos followed Ethereum and Bitcoin in the top five.
The Ethereum-backed Bored Ape Yacht Club (BAYC) NFT collection claimed this week’s top compilation status with $17.06 million in sales volume. The ETH NFTs from the Azuki collection secured second place this week with $13.75 million in sales. Uncategorized Ordinals grabbed third place with $9.5 million worth of Bitcoin-focused NFTs sold, while Mutant Ape Yacht Club (MAYC) snagged fourth place with $8.50 million in sales this week. Bitcoin NFTs from the $OXBT BRC20 collection accumulated $8.32 million in sales, claiming the fifth spot this week.
Data from cryptoslam.io reveals that this week’s most expensive NFT sale or the highest-priced NFT item was an Uncategorized Ordinal, which fetched $2.72 million. A single NFT from the $PPAI BRC20 NFT collection sold for $1.34 million, while the third priciest item was another Uncategorized Ordinal that commanded $709,371.
All five of the costliest NFTs sold during the past week originated from the Bitcoin blockchain. The sixth most expensive NFT—generated from the Azuki NFT collection—sold for $306,976 on the Blur marketplace just nine hours ago.
What are your thoughts on the rapid growth of NFT sales, with Ethereum leading the market and Bitcoin making its mark? Share your views and opinions about this subject in the comments section below.