Investors Buying & Selling NFTs Pump +70% This Week - The NFT Summer Is Building Up

Investors Buying & Selling NFTs Pump +70% This Week – The NFT Summer Is Building Up

Updated: 20 February 2024

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The non-fungible token market has again flagged some promising signs of picking up after experiencing a short market recess in recent weeks. The NFT market returned to life in November last year after a more-than-year market downturn. In this article, we shall assess the state of NFTs in the past seven days.

Data compiled by CryptoSlam.io, an on-chain data aggregator, indicates that the global non-fungible token market has started lighting some green candles created by the recent spike in daily volume. In the past seven days, the global NFT market has amassed a trading sales volume of $268 million.

Investors Buying And Selling NFTs Pump +70%

During this period, the number of investors buying and selling non-fungible token collections has increased. In the past seven days, NFT buyers have 77.15% to 505,086, while the investors selling NFTs have surged 91.69% to 429,905. The NFT trading activity has pushed NFT transactions over the 2.2 million mark.

Source: CryptoSlam.io, NFT trading Activity

Ethereum, the broadly adopted NFT blockchain network, was the most traded blockchain network in the NFT ecosystem. In the past seven days, Ethereum-based NFT collections have attracted a trading sales volume of $136 million. However, Ethereum NFT sales plunged 14% from the past week.

Bitcoin, the blockchain network renowned in the NFT market for its BRC-20 and Ordinals NFT collections, was the second most traded blockchain network in the NFT ecosystem. In the past seven days, Bitcoin-based NFT collections have amassed a trading sales volume of $48 million. Bitcoin NFT sales volume has jumped 5.40% from the past week.

Solana, an open-source blockchain that supports smart contracts, including non-fungible tokens and various decentralized applications, was the third most traded blockchain network in the NFT ecosystem. In the past seven days, Solana-based NFT collections have amassed a trading sales volume of $46 million.

Mythos Chain and Polygon were the fourth and fifth blockchain networks in the NFT ecosystem. In the past seven days, Mythos chain-based NFTs have amassed a sales volume of $6.7 million, while Polygon-based NFT collections have attracted a trading sales volume of $6.4 million.

Five Top-Selling NFT Collections This Past Week

Source: Cryptoslam.io, top-selling NFTs in the past seven days

1. Pandora NFT Collection

Pandora, an NFT collection created on the Ethereum blockchain network using ERC-404 token standard, has been the most selling NFT collection this past week. In the past seven days, the Pandora NFT collection has amassed a trading sales volume of $36 million. However, its NFT sales volume has dropped 48% from the past week.

2. Bitcoin Ordinals NFT Collection

Bitcoin Ordinals “uncategorized,” an NFT collection created on the Bitcoin blockchain network using the ordinal theory, has been this week’s second most-selling NFT collection. In the past seven days, Bitcoin Ordinals have recorded a trading sales volume of $7.1 million.

3. Mad Lads NFT Collection

Mad Lads, an NFT collection featuring a limited edition of 10,000 NFT collections hosted on the Solana blockchain network, was last week’s third most-selling NFT collection. In the past seven days, the Mad Lads NFT collection has amassed a trading sales volume of $7 million.

4. Transdimensional Fox Federation NFT Collection

Transdimensional Fox Federation, an NFT Collection created on the Solana blockchain network, was last week’s fourth most-selling NFT collection. In the past seven days, the Transdimensional Fox Federation NFT collection has attracted a trading sales volume of $6.8 million.

5. DMarket NFT Collection

DMarket, an NFT collection from the digital asset market platform DMarket hosted on the Mythos Chain blockchain network, was the fifth most-selling NFT collection of the past week. In the past seven days, the DMarket NFT collection has attracted a trading sales volume of $6.5 million.

Most Expensive NFTs Sold In The Past 7 Days

Pandora #57023 was the most expensive NFT collection sold this past week, selling for $1.5 million a few hours ago. Happy Hoppers Club Poster NFT was the second most expensive NFT collection sold this past week, selling for $863,410 four days ago.