Weekly NFT sales soar to new heights

Bitcoin (BTC) has dominated the non-fungible token (NFT) sales in the past week, with a total of $423,004,860 in transactions, marking a significant increase of over 32% compared to the previous week and demonstrating the third straight week of strong growth in the NFT market.
According to data from Cryptoslam.io, Bitcoin led the way in NFT transactions with $160.37 million in sales, showing an impressive surge of 80.45%. Ethereum (ETH) followed closely with $159.64 million in transactions, representing a respectable 14.41% increase in ETH-based NFT sales. Other notable blockchains such as Solana (SOL), BNB Chain (BNB), and Mythos Chain (MYTH) also experienced substantial growth in NFT sales during this period.
Cryptoslam’s data revealed that Solana saw approximately $65.129 million in weekly sales, while BNB Chain and Mythos concluded the week with $9.019 million and $7.7 million in sales, respectively. Bitcoin also had the highest increase in wash trading, with $465k made through the practice, marking a nearly 2600% increase from the previous week.
The top-grossing NFT collections of the week were led by Bitcoin’s Uncategorized Ordinals, which generated an impressive $41,210,717 in sales, showing a significant 157.74% increase from the previous week. The NodeMonkes collection followed closely with $35,128,917 in transactions, and these leading collections were followed by Pandora, Creepz, and $NATCATS, rounding out the top five NFT collections by sales volume.
The surge in NFT sales also saw some remarkable individual transactions across various blockchains. Notable transactions included the NFT “Burgie” on the Bitcoin blockchain, which sold for an astonishing $1.44 million, a Solana-based NFT titled “Composable Restaking Position” that changed hands for $1.1 million, Ethereum’s “Lif3 v3 Position” NFT that commanded $597,800, and a BNB Chain “Lockdeal” NFT that was acquired for $416,504. Additionally, a Polygon “Dfyn” NFT was sold for $100,000, showcasing the diversity and value of NFTs across different platforms.
Despite the surge in NFT sales, popular marketplace Opensea faced a significant downturn in February, with only 33% of the total NFT sales in February, the lowest figure since May last year. Active users on the platform also declined, with only 103,000 users making at least one sale in February.