NFT Sales Rise 77% To Over $500M This Past Week, As Bitcoin Leads In NFT Sales

Updated: 18 December 2023

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The non-fungible token market has seen a significant spike in activity over the past few days, with the majority of the increased trading sales volume coming from Bitcoin-based NFTs. In this article, we shall explore the state of the NFT market in the past seven days.

NFT Sales Rise 77% This Past Week

Data compiled by CryptoSlam.io, an on-chain market aggregator, indicates the NFT market has seen an increase in sales in recent days. In the past seven days, the global non-fungible token market has attracted a trading sales volume of $577 million, representing a 77.29% surge from the past week.

Non-fungible token collections hosted on Bitcoin, the blockchain network that powers the flagship crypto Bitcoin (BTC), were the most traded this past week. Bitcoin-based NFTs have amassed a trading sales volume of $362 million in the past seven days. Bitcoin-based NFTs are up 223% from the previous week.

Source: CryptoSlam.io, NFT sales by Blockchain

Digital collectibles hosted on Ethereum, the blockchain network that used to dominate the NFT market before the rebound of Bitcoin BRC-20 NFTs, are the second most traded this past week. Ethereum-based NFTs have recorded a trading volume of $91 million in the past seven days. Bitcoin has flipped Ethereum more than threefold in trading sales volume.

Non-fungible token collections hosted on Solana, the decentralized blockchain network that uses proof of stake consensus mechanism, and Polygon, an Ethereum scaling network, were the third and fourth most traded NFT collections this past week. In the past seven days, Solana NFTs have amassed a trading sales volume of $90 million, while Polygon NFTs have raised a trading volume of $12 million.

Ten Top Most Selling NFTs This Past Week

BRC-20s, the non-fungible tokens collection exclusively created on the Bitcoin blockchain network using the BRC-20 protocol, similar to the famous ERC-20 NFTs, were the most selling NFTs collection in the past seven days. $SAT BRC-20 has been the top most-selling NFT collection in the past week, attracting a trading sales volume of $43 million.

Source: CryptoSlam.io,top-selling NFTs

$RAT and $MICE, animal-inspired crypto tokens created on the Bitcoin blockchain network using the BRC-20 protocol, were the second and third most-selling NFT collections this past week. In the past seven days, these BRC-20 NFT collections have amassed a trading sales volume of $36 million and $29 million, respectively.

Source: CryptoSlam.io, top-selling NFTs

Bitcoin Ordinals, a non-fungible token collection that first clinched in the NFT market earlier this year, was the fourth most traded NFT collection this past week. Bitcoin Ordinals have recorded a trading sales volume of $21 million in the past seven days. Bitcoin-based NFTs dominate all nine slots in the top ten top-selling rankings. The first Ethereum-based NFT ranks at position nine.