The non-fungible token or NFT market has shown decent growth amid Bitcoin’s historic breakthrough above $100,000.
The rise in cryptocurrency prices continues as Ethereum (ETH) strengthens its position, rising 3.5% in the past 24 hours to regain the $4,000 level.
The global cryptocurrency market cap expanded to $3.67 trillion, up from last week’s $3.42 trillion. This is a 2.3% increase from the past day, with Bitcoin (BTC) trading around $99,611 at last check on Saturday. See below.
Source: CoinGecko
According to the latest data from CryptoSlam, the NFT market has seen a major revival, with a total sales volume of $196.2 million. This is an increase of 34.23% from last week’s $146.5 million.
The market statistics show an expansion on all key indicators:
- The number of NFT buyers has increased to 693,833, showing a healthy growth of 20.29%
- NFT sellers grew to 402,069, up 15.97%
- NFT transactions fell slightly by 1.92% to 1,405,054
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Ethereum leads with big growth
The Ethereum NFT blockchain has achieved the highest performance, nearly doubling its sales volume to $100.9 million. This represents an increase of 97.33% in the last seven days. The network has attracted 61,020 buyers, representing a growth of 23.15%. Notably, wash trading also rose 52.79% to $18.2 million, indicating increased market activity.
Source: Blockchains by NFT Sales Volume (CryptoSlam)
Bitcoin’s NFT ecosystem, while maintaining its second position, saw a slight decline of 6.84%. The Bitcoin network’s sales volume reached $45.1 million. However, the network continues to show strong user engagement with 67,188 buyers, up 22.38% from the previous period.
Solana (SOL) has retained its third position with revenues of $16.2 million. Solana has only shown a modest increase of 6.58%. However, the network has strong user participation with 269,871 buyers.
Mythos Chain and ImmutableX (IMX) round out the top five, with revenues of $11.2 million and $10.6 million, respectively.
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Pudgy Penguins lead collection rankings
The announcement of their PENGU token launch has pushed Pudgy Penguins to the top spot with $21.6 million in revenue. This represents an increase of 384.26% in the last seven days.
Introducing $PENGU, the official currency of Pudgy Penguins.
Launching in 2024. Read more below. pic.twitter.com/J715bODcM6
— Pudgy Penguins (@pudgypenguins) December 6, 2024
CryptoPunks follows closely behind with revenues of $21.3 million, showing an impressive growth of 173.86%. BRC-20 NFTs rose to third place with $9.9 million in revenue, while Guild of Guardians Heroes and Uncategorized Ordinals rounded out the top five with $8.9 million and $8.4 million in revenue, respectively.
Top NFT Sales: Data from CryptoSlam
Notable individual sales this week include:
- Uncategorized Ordinal Numbers #876 sold for $7,512,996 (76.9998 BTC)
- CryptoPunks #2202 sold for $455,287 (125 ETH)
- MADinArt 18: iSteef #asset18 sold for $388,073 (365,481,5277 ADA)
- Azuki #5889 sold for $362,345 (100 ETH)
- Autoglyphs #328 sold for $328,314 (90 WETH)
This week’s data reflects a maturing NFT market with major growth in both established collections and new entrants.
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