The Non-Fungible Token (NFT) industry made a comeback this week as sales, buyers, and sellers increased. Total NFT sales increased by almost 30% compared to the previous period, while buyers and sellers soared by 1,000% and 272% to 214,942 and 116,134, respectively.
CryptoPunks, Doodles, XSY Deposits Soar
The NFT sales were led by CryptoPunks, whose volume soared by 121% to $7.8 million. According to CryptoSlam, there were 59 transactions, with 42 buyers and 46 sellers, respectively.
XSY Deposit, the most popular NFT collection on the Avalanche blockchain, rose by 470% to $6.8 million. This surge pushed the total NFT transactions on Avalanche to over $7 million, marking its best week in months.
Guild of the Guardians Heroes, a top collection on Immutable, had $6 million in sales even as the number of transactions, buyers, and sellers declined.
Doodles’ sales increased by 34% to $4 million. This increase happened even as the recently launched DOOD token crashed, ultimately bringing its market cap to over $30 million.
The other top-performing NFTs sales were Pudgy Penguins, Bored Ape Yacht Club, and Taproot Wizards.
Courtyard and DMarket NFT Sales Decline
On the other hand, the top-selling NFT collections were also some of the worst performers this week. Courtyard, the most popular NFT collection on Polygon, had $13 million in sales, down by 20% from the prior week. The number of transactions fell by 25%, and buyers dropped by 26%.
DMarket, which is on the Mythos Chain, saw its sales fall by 28% to $8.3 million as buyers fell by 13%. The other top laggards were Guild of Guardians Avatars and NBA Top Shot.
The Ethereum chain was the most popular in non-fungible token trading as its sales jumped by 63% to $46 million. Bitcoin, Polygon, Mythos, Solana, Immutable, and Avalanche followed in terms of sales volume.
Still, the long-term trend in the NFT industry is worrying. While the numbers increased this week, they are down sharply for the month. Ethereum sales have retreated by 36% to $123 million, while those on Polygon, Mythos, and Solana have dropped by over 27%.
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