NFT Sales Soar 24% as Ethereum Takes the Lead This Week

Based on the metrics collected from Aug. 17 to Aug. 24, 2024, the non-fungible token (NFT) market experienced a lively 24.33% boost in sales compared to the previous week. Sales reached an impressive $99.05 million, with Ethereum-based NFTs leading the charge at $36.62 million.

NFT Market Booms With Ethereum at the Helm Reaching $99M in Sales

This week, cryptoslam.io metrics show the NFT scene saw a healthy 24.33% uptick from the previous week. Not only that, but the number of NFT buyers shot up by 42.96%, and sellers weren’t far behind, with a 41.53% increase. Ethereum took the crown as the top blockchain for NFT sales, raking in $36.62 million. Following closely was Solana, which generated $18.43 million, marking a 14.4% rise in sales.

Polygon secured the third spot, amassing $12.52 million in NFT sales, while Bitcoin-focused NFTs came in just under that with $12.14 million. Mythos rounded out the top five chains, bringing in a bit over $5 million. Among collections, Ethereum’s Cryptopunks led the pack with $7.65 million in total sales.

Mythos’ Dmarket claimed second place by pulling in $4.99 million, followed by Ethereum’s Bored Ape Yacht Club (BAYC), which brought in $3.59 million this week. The priciest NFTs this week weren’t as extravagant as in previous weeks. The top sale was Arbitrum’s GETH Locked Deposit, which fetched $256,000. An Ethereum NFT named Zoth Nibiru sold for $250,000, and Solana’s Boogle #061 changed hands for $200,000 just five days ago.

The boost in NFT sales, coupled with the significant increase in buyers and sellers, hints at a renewed enthusiasm for digital collectibles across various blockchains. While Ethereum continues to dominate, other chains like Solana, Polygon, and Bitcoin are making strides, indicating a more diverse market. The comparatively moderate prices of the top NFTs this week might suggest a more cautious approach from investors.