NFT Sales Spike 15% To Over $152M In Past 7 Days - Are We Really On NFT Bull Run?

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The non-fungible token market data analysis shows that the global NFTs trading sales volume has surged high in the past several days. This sudden surge is likely triggered by several positive developments in the crypto space, including renewed institutional interest and favorable interest rate decisions.

Are We Really On NFT Bull Run?

Elsewhere, the rapid non-fungible market rise could also indicate the start of the highly anticipated NFT Bull Run, which was predicted to begin sometime in mid-year. But are we really on a Bull Run, or is the NFT market just correcting after suffering a short flip in the past several weeks?

Data compiled by CryptoSlam.io, an on-chain data aggregator, confirmed that the global NFT trading sales volume has spiked higher this week, pumping 15% in the past seven days. The non-fungible token sales volume has risen to $152 million.

During this period, the non-fungible token market has seen a sharp rise in the number of collectors, seeding in the market. NFT buyers have surged more than 50% to 957,726 in the past seven days. The number of NFT transactions has also surged 6.73% to nearly 2.5 million.

NFT Sales Spike 15% In the Past 7 Days

Non-fungible tokens hosted on the Ethereum network have continued to dominate the NFT market despite receiving heated market pressure from the Bitcoin ordinals in the past several weeks. Ethereum NFTs have recorded a trading sales volume of $95 million in the past seven days. Ethereum NFTs are up 27% this week from last week.

Bitcoin Ordinals have distantly followed Ethereum NFTs, recording a trading sales volume of $20 million. Bitcoin NFTs debuted in the NFT market earlier this year after a renowned Bitcoin developer “Casey Rodarmor” inscribed NFTs using Satoshi Nakamoto’s ordinal theory.

In the past seven days, Bitcoin NFTs have dropped by 3% in trading sales volume from the past week. Bitcoin NFTs have slightly dropped in value after Genius.com co-creator “Tom Lehman,” also known as Middlemarch on Twitter, recently unleashed a new NFT protocol on Ethereum called “Ethscriptions.”

Solana-based NFTs have begun returning after suffering a short downtrend in the past several months. Solana recently paved the way for Bitcoin NFTs to become the second most traded NFTs. Solana NFTs have recorded a trading sales volume of $10 million in the past seven days. Solana NFTs have surged 24% during this period.

Digital collectibles hosted on Polygon, an Ethereum scaling network, ranked fourth in the past seven days. These NFTs have recorded a trading sales volume of $6 million. Polygon NFTs have spiked 5% in trading sales past week. Immutable-based NFTs closed in the fifth position after amassing a trading sales volume of $5.8 million in the past week.

Top NFTs By Sales Vol In The Past 7 Days:

1. Bored Ape Yacht Club NFTs

Bored Ape Yacht Club is one of the most successful non-fungible token projects in the NFT market. Launched in 2021 by digital asset incubation firm “Yuga Labs,” Bored Ape Yacht Club is an NFT collection featuring a fixed edition of 10,000 NFTs.

In the past seven days, Bored Ape Yacht Club NFTs have attracted a trading sales volume of $13 million, taking the top position the past week. The NFT collection has recorded a sharp spike in trading, seeing a 77% rise in NFT buyers and 40% in sellers.

2. Bitcoin NFTs

Bitcoin NFTs have ranked second in the past seven days. The ordinal collection “Uncategorized” has recorded a trading sales volume of $9.8 million. Unfortunately, Bitcoin ordinals appear to have lost hype following the introduction of Ethscriptions. Bitcoin Ordinals have dropped by 12% from the past week.

3. Azuki NFTs

Blue-chip Azuki, an NFT collection from digital asset incubation studio Chiru Labs featuring a fixed set of 10,000 anime-themed NFTs, took the third position past week. In the past seven days, the NFT collection has recorded a trading sales volume of $8.5 million. Azuki NFTs collection has pumped 2.2% in sales volume.

4. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club is another NFT collection from digital asset incubation firm Yuga Labs featuring a limited edition of 20,000 NFTs hosted on the Ethereum network. The NFT collection has attracted a trading sales volume of $5.5 million in the past seven days. During this period, Mutant Ape Yacht Club NFTs have increased by 81% in trading sales volume.

5. Gods Unchained NFTs

Gods Unchained is an NFT collection from the ultimate digital trading card game “Gods Unchained,” hosted on Immutable X blockchain. The NFT collection gives players true ownership of their collection. In the past seven days, the NFT collection has recorded a trading sales volume of $5.4 million. Gods Unchained NFTs surged 6% past week.

Noteworthy Happenings In The NFT Market:

1. Azuki To Drop Its Elementals NFTs This Week

Late last week, Chiru Labs, the digital asset incubation firm behind the popular Azuki NFT collection, announced ready plans to drop its new NFT collection called “Elementals.”The highly anticipated NFT collection will launch this Tuesday, June 27. Unlike Azuki, the NFT collection will feature a limited supply of 20,000 anime-themed NFTs. Azuki has already airdropped all Azuki NFT holders with free soundbound tokens “$SBT” to help them unlock the upcoming NFT collection.

2. Wall St Memes Raises $10M In Just Weeks

The Wall St Memes is a new non-fungible token project with huge potential of generating significant returns in the long run. The NFT project has a strong foundation, including notable investors such as Billionaire Elon Musk. In 2021, the Wall St Memes launched one of the most successful NFT collections on the Ethereum network called “Wall St Bulls,” which sold for a record time of 32 minutes.

Last month, Wall Street Memes community launched another NFT collection on the Bitcoin network, featuring a limited supply of 420 NFTs that sold out in days. The same team has a presale, “$WSM,” which is the most talked about crypto presale right now. $WSM is quickly gaining interest among early-stage investors. The presale has already raised more than $10 million in just weeks.