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During the week of June 1-8, 2024, the non-fungible token (NFT) market showed signs of recovery, with total sales reaching $133.19 million. This represents a 7.51% increase compared to the previous week.
NFT Market Gains 7.51% This Week
Related: NFT Sales Surge by 4.52%: Digital Assets Continue to Attract Attention
After experiencing several weeks of decline, NFT sales saw a significant uptick of 7.51% this week. The total sales amounted to $133.19 million, involving nearly 90,000 buyers and sellers. The highest-priced NFT sale this week was on the Cardano blockchain, fetching $219,102 three days ago. Following this, an Ethereum-based Cryptopunk #1,002 sold for $193,372 two days ago.
Rising NFT Sales Indicate Market Recovery
The seven-day NFT sales data from cryptoslam showed Ethereum leading with $35.91 million in sales, marking a slight increase of 0.33% from the previous week. Bitcoin NFT sales were close behind at $35.61 million, with a notable increase of 10.93%. Solana secured the third spot with $19.17 million in sales, up by 1.97%. Polygon and Immutable X followed, with Polygon’s sales increasing by 21.39%.
Related: Weekly Performance of NFT and Crypto Market: A Significant Surge
Top-Selling Collections of the Week
Immutable X’s Guild of Guardians emerged as the top-selling digital collectibles collection this week, accumulating $6.79 million, a rise of 18.54%. Bitcoin’s PIZZA NFTs generated $5.91 million, while Polygon’s Moongirl NFTs recorded $5.77 million in sales. This week’s notable resurgence in NFT sales across various blockchains suggests a stabilizing digital asset landscape.
Related: OpenSea Litigation Dropped, BNB Chain Whales Lead NFT Resurgence in Q3 - Nifty Newsletter Recap
The varied growth rates among leading platforms like Bitcoin, Solana, and Polygon indicate a diversifying market. This upward trend over the past seven days, highlighted by standout collections like Guild of Guardians, suggests a renewed interest among collectors, potentially setting the stage for a vibrant summer in the NFT sector.
What are your thoughts on this week’s NFT sales? Share your opinions in the comments section below.
Emily brings a decade of expertise in blockchain technology and decentralized finance (DeFi). She specializes in market trends and regulatory developments, providing in-depth analyses that resonate with seasoned investors and beginners alike. With a background in financial journalism, she is dedicated to bringing clarity to the fast-paced world of crypto.
