NFT Buyers Almost Double, Market Volume Spikes by 25%

On Mar 1, 2024

As the crypto market revives, so does the NFT sector. This week, the number of NFT purchases has nearly doubled, showcasing a robust upward momentum.

CryptoSlam reported a notable 43% increase in the number of investors buying NFTs by the end of February, with the total of NFT enthusiasts now amounting to 861,918.

Such a surge in interest is part of a broader uplift, whereby the NFT market’s volume has spiked by approximately 25% this week alone, surpassing $381 million.

February, as a whole, has been an extremely favorable time for the industry: 30-day trading volume highlights NFT purchasers amplifying by a tremendous 964% and sellers growing by 734%.

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 million, marking a 2.20% rise. The network is supported by a vibrant community of 99,681 buyers, which has expanded by 28%.

Close on its heels, Bitcoin has witnessed its NFT transactions nearly soar to $134 million during the same span, experiencing a remarkable 92% surge. It now boasts a growing network of 47,922 participants, indicating a 46% spike.

Solana also makes a significant contribution to the land of NFTs, with its 7-day NFT sales closely hitting $59 million, a 19% leap. Impressively, this network leads with the highest number of NFT buyers at 314,955 — a 61% rise from its earlier count.

The ‘Uncategorized Ordinals’ Bitcoin NFT collection currently tops the market with a 24-hour sales volume of $11,530,072, up by 233%.

Also casting a light on the booming NFT realm is Bitcoin’s ‘NodeMonkes’. It is currently the second-highest trending collection, boasting a daily sales volume of $10,723,233, soaring by a whopping 204%.

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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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.