NFT Sales Surge 25% In The Past 24 Hrs – Has The NFT Summer Started Building Up?

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The non-fungible token market continues defying the recent bear market, showcasing the potential of retesting another market bull run in the coming weeks or months. In this article, we shall explore some of the top-selling NFTs this week while digging into whether the NFT market will retest another bull run.

NFT Sales Surge 23% In Past 24 Hours

Data compiled by CryptoSlam.io, an on-chain data aggregator, shows that the non-fungible token market has seen a sharp increase in sales volume today. In the past 24 hours, the NFT market has recorded a trading sales volume of $10 million, representing a 25% spike from the previous day.

Non-fungible tokens hosted on Ethereum, the largest blockchain network for NFTs, are the most traded NFT collections, amassing a trading sales volume of $5.8 million. Ethereum-based NFTs are up 39% from the previous day.

Digital collectibles hosted on Mythos Chain are the second most traded NFT collection this week. In the past 24 hours, Mythos chain-based NFT collections have recorded a trading sales volume of $1.1 million, representing a 13% surge from the previous day.

Five Top Selling NFTs This Week

Source: CoinGecko.com, NFT Trading Activity

1. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club, an NFT collection from digital asset firm Yuga Labs featuring a limited edition of 20,000 NFTs hosted on the Ethereum network, is the top-traded NFT collection this week. In the past 24 hours, the NFT has recorded a sales volume of 1,220 ETH. Mutant Ape Yacht Club NFT seems to be cooling after a short rally. It has a market cap of $160 million and a floor price of $8,197.

2. Bored Ape Yacht Club NFTs

Bored Ape Yacht Club, another NFT collection from the digital asset firm Yuga Labs, featuring a limited set of 10,000 NFTs, is the second most traded NFT collection this week. In the past 24 hours, the NFT collection has recorded a trading sales volume of 1,180ETH. The NFT collection has a market capitalization of $416 million and a floor price of $41,650.

3. Milady Makers NFTs

Milady Maker is an NFT collection from the web3 startup Remilia, featuring a limited edition of 10,000 NFTs hosted on the Ethereum network. Milady Maker is the third most traded NFT collection this week. In the past 24 hours, the NFT collection has attracted a trading sales volume of 836 ETH. Milady Makers NFT collection appears to be consolidating after rallying 17% in the past 24 hours. The NFT collection has a market cap of $42 million and a floor price of $4,399.

4. DeGods NFTs

DeGods, an NFT collection from the digital asset firm Dust Labs, featuring a limited supply of 10,000 NFTs hosted on Ethereum net, is the fourth most traded NFT collection this week. In the past 24 hours, the NFT collection has recorded a trading sales volume of 617 ETH. DeGods has a market capitalization of $56 million and a floor price of $6,319.

5. Azuki NFT

Azuki, an NFT collection from the digital asset firm Chiru Labs featuring a fixed edition of 10,000 anime-themed NFTs, is the fifth most traded NFT collection this week. In the past 24 hours, the NFT collection has attracted a trading sales volume of 502 ETH. Azuki NFT collection has a market capitalization of $60 million and a floor price of $6,021.

The NFT Market Prediction

The NFT market has suffered a massive downturn in the past several weeks, which has left many NFT floor prices shielding more than 70% of their value. But interestingly, many NFT collectors and industry experts are still bullish that the market will retest hype in the coming weeks or months.