NFT Sales Surge 37% to $144.8 Million as Immutable Overtakes Ethereum

Major Jump in NFT Market Activity

The non-fungible token (NFT) market has witnessed a significant uptick in sales, with a robust increase of 37.1% in volume, reaching $144.8 million. Data sourced from CryptoSlam indicates that this surge marks one of the largest weekly gains in several months for the sector.

The notable growth in NFT sales coincided with a recent spike in Bitcoin’s price, which soared above the $105,000 mark. Additionally, Ethereum, another major player in the cryptocurrency market, saw a modest 2.5% increase over the week. These developments contributed to a rise in the total global cryptocurrency market capitalization, which edged up from $3.28 trillion to $3.29 trillion.

Rise in Participants and Transactions

In the wake of this surge, market participation has notably escalated. The number of NFT buyers increased by 50.56%, totaling 1,061,348, while NFT sellers rose by 8.09% to 38,494. Furthermore, NFT transactions experienced a healthy growth of 7.88%, totaling 1,749,437. ## Immutable Takes the Lead from Ethereum

In a significant shift within the NFT landscape, Immutable has dethroned Ethereum as the top seller, reporting $41.7 million in sales—a staggering increase of 156.01% compared to the previous week. This is one of the first instances in several months that Ethereum has relinquished its leading position.

In second place, Ethereum garnered $31.5 million in sales, reflecting a growth of 6.69%. Despite this decline in rankings, it still maintains a strong market presence. Ethereum’s wash trading figures saw a slight decrease to $1.9 million, down by 2.91%.

Bitcoin remains in third place, accruing $19.4 million in NFT sales, a rise of 22.55% from the previous week. Additionally, Polygon has surged by 32.91%, positioning itself in fourth place with $18.5 million. Mythos Chain rounds out the top five with $14.1 million, while BNB Chain climbed to sixth with $8.4 million, marking a notable 47.59% increase.

Collection Rankings and Notable Sales

The increase in sales has been accompanied by a corresponding uptick in buyer activity across major blockchains. Polygon’s buyers grew by 35.63%, followed by Solana with a 27.41% rise and Bitcoin with a 23.22% increase.

Notably, "Guild of Guardians Heroes" has emerged as the most popular collection, achieving $24.7 million in sales, more than doubling its previous stats with a growth of 132.53%. In second place is "Courtyard" on Polygon with $17.2 million and a growth of 36.33%. The "Guild of Guardians Avatars" collection holds the third spot with $10.3 million, also experiencing substantial growth of 108.61%.

Interestingly, the once-prestigious CryptoPunks collection has seen a significant decline, dropping entirely out of the top rankings after previously securing a position in sixth place.

Among the notable high-value sales reported this week, several CryptoPunks were sold for substantial sums, including:

• CryptoPunks #1831 for 150 ETH (approximately $389,846)
• CryptoPunks #9778 for 150 ETH (approximately $377,958)
• CryptoPunks #4868 for 76.5 ETH (approximately $201,933)
• CryptoPunks #5586 for 70.07 ETH (approximately $185,292)
• CryptoPunks #7516 for 60 ETH (approximately $158,378)

Conclusion

The surge in NFT sales signifies a revitalization in the market, driven by increased participation and strategic shifts among major players. As Immutable takes the lead, the NFT landscape continues to evolve, reflecting dynamic changes influenced by broader cryptocurrency market trends.