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The non-tradable token has seen a sharp rise in sales volume after a brutal slump in recent months. The NFT market started somewhere in the middle of the year, leaving most NFTs almost worthless. The NFT market now appears to be returning to an uptrend.
NFT Sales Pump 14% This Week
Data collected from CryptoSlam.io, an on-chain market data aggregator, shows that the global NFT market has experienced some hype again this week. Over the past seven days, the NFT market recorded a trading volume of $70 million, representing a 14.07% increase from last week.
Source: cryptoslam.io, nft sales last seven days
During this time, the number of crypto users trading non-tradable token pools has grown slightly. Over the past seven days, the NFT market has seen more than 500,000 collectors buy NFTs and more than 700,000 users sell their NFTs, representing an increase of 17.77% and 15.82%.
The non-tradable token hosted on Ethereum, the largest and most tradable blockchain for NFTs, was the top most traded NFT collection this week. Ethereum-based NFTs have attracted $37 million in trading volume over the past seven days. Ethereum NFTs are up 19.60% this week.
Source: cryptoslam.io, NFT sales by blockchain
Digital collectibles hosted on the Mythos Chain were the second most traded NFT collection this week. Over the past seven days, NFT collections have generated $9.5 million in sales volume. Mythos Chain NFTs are up 5.30% this week.
This week, non-fungible tokens hosted on the Solana and Immutable X blockchain networks were the third and fourth most traded NFT collections. Over the past seven days, Solana-based NFTs have recorded a trading volume of $6.6 million, while Immutable X has a trading volume of $4.5 million. Solana NFTs are up 23.82%, while Immutable X NFTs are up 45%.
Digital artefacts hosted on Bitcoin, the popular blockchain network that powers the leading cryptocurrency ‘Bitcoin’, are other NFT collections that have significantly increased trading volume this week. Over the past seven days, Bitcoin Ordinals have increased by 20.96%, recording a trading volume of $2.9 million.
Source: cryptoslam.io, Bitcoin NFT trading activity
Most traded NFT collections this week
Source: cryptoslam.io, top NFT sales in the last 7 days
1. DMarket NFT Collections
DMarket, an NFT collection from the DMarket NFT collection hosted on Mythos Chain, was the most NFT collection this week. DMmarket NFTs have attracted $9.4 million in trading volume over the past seven days. DMmarket NFTs sales increased by 5.20% this week.
2. Gods Unchained NFTs
Gods Unchained, an NFT collection that allows players to participate in the digital trading card game Gods Unchained, was the second most traded NFT collection this week. Over the past seven days, the NFT collection has attracted $4.4 million in trading volume. Gods Unchained NFTs are up 48.13% this week.
3. Bored Ape Yacht Club NFTs
Bored Ape Yacht Club, an all-time top selling NFT collection from digital asset incubation studio Yuga Labs, was the third most traded NFT collection this week. Over the past seven days, the Bored Ape Yacht Club NFT Collection has recorded $4.3 million in sales volume. Bored Ape NFTs are up 14% in sales this week.
4. The Winds Of Yawanawa NFTs
Winds of Yawanawa, an NFT collection featuring a limited edition set of 1,000 digital artworks by Turkish-American new media artist Refik Anadol in collaboration with the Brazilian Yawanawá community, was the fourth most traded NFT collection this week. The NFT collection attracted $3.5 million in trading volume over the past seven days.
5. CryptoPunks NFT Collection
CryptoPunks, an NFT pool previously from digital asset company Larva Labs, with a stable total of 10,000 NFTs, was the fifth most traded NFT pool this week. Over the past seven days, the NFT collection has amassed $2.4 million in trading volume. The NFT collection is up 79% in sales this week.
6. Sorare NFTs
Sorare, an NFT collection from the cryptocurrency-based fantasy sports video game hosted on Ethereum, was the sixth most traded NFT collection this week. Over the past seven days, the NFT collection has recorded a trading volume of $2.2 million. Unfortunately, Sorare is down 2.41% in sales this week.
7. $SAT BRC-20 NFT
$SAT BRC-20 NFTs, a collection of NFTs hosted on the Bitcoin network similar to the famous ERC-20 token standard, is the seventh most traded NFT collection this week. For the past seven days. $SATs recorded $1.9 million in sales volume. This regular collection is up 45.59% in sales this week.
8. DraftKings Reign Makers NFTs
Reign Makers, an NFT collection from the DraftKings NFT marketplace, was the eighth most traded NFT collection this week. Over the past seven days, DraftKings Reign Makers has collected $1.9 million in sales volume. Reign Makers NFTs are down 39% this week.
9. Mutant Ape Yacht Club NFTs
Mutant Ape Yacht Club is another NFT collection from digital asset incubation studio Yuga Labs that has a limited edition of 20,000 NFTs hosted on the Ethereum network. Mutant Ape Yacht Club was the ninth most traded NFT collection this week. Over the past seven days, the NFT collection has amassed $1.4 million in trading volume.
10. The Captainz NFT
Captainz is an NFT collection of 9,999 unique digital collectibles hosted on the Ethereum blockchain. Captainz was the tenth most collected NFT this week, recording a trading volume of $1.1 million. The Captainz NFT collection is up 157% in sales this week.
CryptoPunks #6704 was the most expensive NFT collection this week, selling $618,715 seven days ago. CardaniansLoyaltyTwo #0095 was the second most expensive NFT collection this week, selling $159,096 three days ago. Halmonious Realms #2128 was the third most expensive NFT, selling for $50,000 five days ago.
Source: cryptoslam.io, the most expensive NFTs in the last 7 days
The NFT Market Forecast
After suffering a brutal decline in recent months, the non-exchangeable voucher market is once again showing signs of growth, with transaction sales volume increasing recently. The NFT market needs a small market catalyst like the long awaited approval of the Bitcoin ETF or any other to bounce back.
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