NFT sales spike to $155m, Pudgy Penguins push back with an 82% surge

The NFT market has turned upward despite crypto price weakness, with Bitcoin falling 3% to $94,000 and Ethereum dropping sharply by 9% to $3,200.

Even though the broader crypto market cap has contracted to $3.3 trillion from last week’s $3.5 trillion market cap, the NFT market has turned positive.

According to CryptoSlam data, NFT sales volume has climbed 10.70% to $155.4 million this week. The rise in total sales comes alongside a notable drop in market participants, suggesting larger trades from fewer buyers.

The weekly metrics are as below:

• NFT sales volume rose to $155.4 million from $132.7 million last week
• NFT buyers fell 81.79% to 122,806
• NFT sellers dropped 73.24% to 104,090
• Transactions inched up 0.16% to 1,483,044

You might also like: Nasdaq-listed Heritage Distilling introduces Bitcoin treasury plans

Blockchain networks show mixed results

Ethereum (ETH) NFT sales grew 13.09% to $61.9 million, though buyer numbers fell 65.62% to 24,836. Wash trading on the network increased 76.73% to $25.1 million.

Bitcoin (BTC) NFTs saw modest growth, with sales up 1.97% to $30.8 million. The network’s buyer count dropped 87.15% to 8,665.

Source: Blockchains by NFT Sales Volume (CryptoSlam)

Solana (SOL) moved up with $20.1 million in sales, rising 9.96%. Mythos Chain held fourth place with $12.4 million, up 4.39%. Base entered the top five with $8.4 million, jumping 211.18% in sales.

Pudy Penguins bounce back

Pudgy Penguins enjoyed $9.2 million in sales, up 82.32%. The recovery brought more activity, with transactions up 50.70% and buyers increasing 67.39%.

BRC-20 NFTs took second place with $8.2 million, growing 40.78%. DMarket kept steady in third with $7.2 million, up 8.06%, and maintaining high volume with 282,071 transactions.

NFT collection rankings: Data from CryptoSlam

Guild of Guardians Heroes fell 11.17% to $5.1 million, while Azuki dropped to fifth place with $4.0 million, down 56.58%.

Top sales this week included:

• SuperRare #37380: $474,710 (474,710 USDC)
• CryptoPunks #4757: $453,894 (125 ETH)
• SuperRare #37380: $396,000 (108.7469 WETH)
• CryptoPunks #3698: $277,876 (82 ETH)
• Abstract Being: $222,680 (2.3681 BTC)

The NFT market has found some stability with rising sales volume, even as participation stays limited. Read the last week’s NFT activity here.

Read more: Donald Trump’s inauguration on January 20th: What it could mean for crypto