The NFT Summer Is Building Up - NFT Sales Volume Spikes 16% To $180M This Week

The NFT Summer Is Building Up – NFT Sales Volume Spikes 16% To $180M This Week

Updated: 02 June 2023

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 market hype surrounding non-fungible tokens, including NFTs hosted on the flagship chain “Bitcoin,” suggests the potential end of a prolonged NFT winter and an exponential starting of another crypto summer. The NFT market has shown some signs of recovery this week after suffering in the past 12 months.

NFT Sales Rise 16% This Week

Data fetched by CryptoSlam indicates that the NFT market has surged higher this week, pumping 16% in trading sales from the previous week. In the past seven days, the non-fungible token market has recorded a trading sales volume of $180 million.

Ethereum NFTs have taken the most significant share during this period, attracting $107 million in global sales volume. Bitcoin Ordinals, the potential market rival to Ethereum, have distantly followed with a sales volume of $30 million in the past seven days.

Solana NFTs have attracted a trading sales volume of $10 million, while Polygon, an Ethereum scaling solution, has recorded a trading sales volume of $9.1 million in the past seven days. Solana NFTs have plunged 12 %, as Polygon increased 3% this week.

Five Top-Selling NFT Collections This Week

1. Bored Ape Yacht Club NFTs

Bored Ape Yacht Club, an NFT collection from digital asset firm Yuga Labs featuring a limited edition of 10,000 NFTs, has been the most traded NFT collection this week. In the past seven days, the NFT collection has recorded a trading sales volume of $10 million.

2. $ORD BRC-20 NFTs

$ORD BRC-20, an ordinal collection using the same functionality as the popular Ethereum ERC-20, has been the second most traded NFT collection this week. In the past seven days, the $ORD BRC-20 NFT collection has attracted a sales volume of $10 million.

3. Azuki NFT Collection

Azuki, an NFT collection from digital asset incubation studio Chiru Labs, has been the third most traded NFT collection in the past seven days. The NFT collection, which features a limited edition of 10,000 anime NFTs, has recorded a trading sales volume of $8.5 million.

4. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club, another NFT collection from digital asset firm Yuga Labs, performed very well this week. In the past seven days, Mutant Ape Yacht Club has recorded a trading sales volume of $8.2 million. The NFT collection has pumped 80% this week.

5. DMarket NFT Collection

DMarket, an NFT collection featuring randomly generated NFTs hosted on Mythos Chain, has been the fifth most traded NFT collection in the past seven days. DMarket has recorded a trading sales volume of $7.1 million. However, the NFT collection has plummeted 2% from the previous week.

Wall St Bull Ordinals – Best Bitcoin Ordinals To Buy Today

Wall St Bulls, an ordinal collection from the Wall St Memes community featuring a limited edition of 420 NFTs, has also performed well this week. The Wall St Memes group recently launched a meme coin presale that has already launched $2.5 million in less than five days. The $WSM token presale is rapidly selling fast than expected.