Weekly NFT Purchases Almost Double Amid Crypto Market Revival

On Mar 1, 2024

In the wake of a significant resurgence in the global crypto market, the number of NFT purchases has nearly doubled this week, showcasing a robust upward momentum.

CryptoSlam reported a notable 42.74% increase in the number of investors buying NFTs by the end of February, with the total of NFT buyers now amounting to 861,918.

Such a surge in interest is part of a broader market uplift, whereby the NFT market volume has spiked by approximately 25.21% this week alone, pushing the total market volume to surpass $381 million.

February, as a whole, has been an extremely favorable time for the industry, with 30-day trading volume highlighting buyers amplifying by 964.44% and sellers growing by 734.09%.

Source: CryptoSlam

Check out: Are NFTs a Good Investment?

A Glance at Top Performers

In terms of 7-day volume in the NFT blockchain world, Ethereum leads the charge, with its NFT sales hitting $148.1 million, marking a 2.20% rise. The network is supported by a vibrant community of 99,681 buyers, which has expanded by 28.10%.

Close on its heels, Bitcoin has witnessed its NFT transactions soar to $133.8 million during the same span, experiencing a remarkable 92.48% surge. It now boasts a growing network of 47,922 participants, indicating a 46.32% spike.

Solana also makes a significant contribution to the NFT world, with its 7-day NFT sales amounting to $58.7 million, an 18.98% leap. Impressively, it leads with the highest number of buyers at 314,955, a 60.91% rise from its earlier count.

The ‘Uncategorized Ordinals’ Bitcoin NFT collection currently tops the market with a $32.09 million sales volume, surging 181.15%, with transactions up 67.78% to 36,654. Buyer and seller numbers rose by 36.88% and 70.49%, respectively.

Trailing behind, ‘NodeMonkes’ on Bitcoin reached a $27.77 million volume, soaring by a whopping 288.41%, thus casting a light on the booming NFT realm.

Collectively, each of these CryptoSlam figures underscores a vigorous revival of interest and investment in the NFT world. Bring on the bull run.

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