NFTs Attempt A Rebound Amid Crypto Frenzy – Daily Trading Sales Volume Jumps 13%

Updated: 04 March 2024

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The non-fungible token market has rebounded again after experiencing a short market bear that lasted more than four weeks in January and February 2024. The NFT market resurgence comes amid the recent market rally in the crypto prices, which has left Bitcoin, Ethereum, and Solana all in positive gains.

NFT Sales Pump 13% In The Past 24 Hrs

Data compiled by cryptoslam.io, an on-chain data aggregator, indicates that the NFT market has seen a spike, marked by a rise in floor prices and trading sales volume. In the past 24 hours, the NFT market has amassed a trading sales volume of $70 million, representing a 13% surge from the past day.

Bitcoin, the blockchain network renowned for its Bitcoin Ordinals and BRC-20 NFTs, is the top most traded blockchain network in the NFT ecosystem. In the past 24 hours, Bitcoin-based NFTs have amassed a trading sales volume of $33 million, representing 23.51% from the past day.

Ethereum, the most adopted blockchain network in the NFT market, is the second most traded blockchain network in the NFT market. In the past 24 hours, Ethereum-based NFT collections have recorded a trading sales volume of $24 million. Ethereum NFT sales have surged 4.17% from the past day.

Top Selling NFT Collections Today

NodeMonkes, an NFT collection featuring a limited set of 10,000 NFTs hosted on the Bitcoin blockchain network, is today’s top-selling NFT collection. In the past 24 hours, the NodeMonkes NFT collection has recorded a trading sales volume of $11 million, representing a 30% rise from the previous day.

Bitcoin Ordinals, an NFT collection created on the Bitcoin blockchain network using the ordinal theory, is another of the most-selling NFT collections today. In the past 24 hours, Bitcoin Ordinal NFTs have attracted a trading sales volume of $8.5 million, representing a 29% surge from the previous day.

HychainNodeKey, an NFT collection hosted on the Ethereum blockchain, is today’s third most-selling NFT collection. In the past 24 hours, the HychainNodeKey NFT collection has raised a sales volume of $2.7 million. However, its NFT sales volume has dropped 38% from the past day.

On the other hand, the crypto market, led by the flagship crypto ‘Bitcoin,’ is also bullish today. In the past 24 hours, Bitcoin has gained +2,250, representing a 3.56% spike from the past day. At the time of writing, Bitcoin is trading at a market price of $65,404.