cyrpto enjoys, Ethereum, network, NFT, sales, spike, surge Mark December 7, 2024 0 Comments

NFT sales surge 34%, Ethereum network enjoys sales spike

The market for non-fungible tokens, or NFTs, has shown decent growth amid Bitcoin’s historic breakthrough past $100,000.

Cryptocurrency price surge continues as Ethereum (ETH) strengthens its position, climbing 3.5% in the last 24 hours to regain the $4,000 level.

The global cryptocurrency market capitalization rose to $3.67 trillion from $3.42 trillion last week. This is an increase of 2.3% from the last day, with Bitcoin (BTC) trading around $99,611 at last check Saturday. See below.

NFT Sales Increase 34% to $196.2 Million, Ethereum Network Shows 97% Increase in Sales - 1 — Source: CoinGecko

According to the latest data from CryptoSlamThe NFT market saw a sharp rise, with total sales volume reaching $196.2 million. This is an increase of 34.23% compared to $146.5 last week million.

Market metrics show expansion across all key metrics:

NFT buyers increased to 693,833, showing a healthy growth of 20.29%
NFT sellers increased to 402,069, with an increase of 15.97%
NFT transactions decreased slightly by 1.92% to 1,405,054

Ethereum leads with major growth

The Ethereum NFT blockchain showed the highest performance, almost doubling its sales volume to $100.9 million. This represents an increase of 97.33% over the last seven days. The network attracted 61,020 buyers, a growth of 23.15%. Notably, wash transactions also increased by 52.79% to $18.2 million, indicating increased market activity.

NFT Sales Increase 34% to $196.2 Million, Ethereum Network Shows 97% Increase in Sales - 2 — Source: Blockchains by NFT sales volume (CryptoSlam)

Bitcoin’s NFT ecosystem, while maintaining its second position, saw a slight decline of 6.84%. Bitcoin network sales volume amounted to $45.1 million. However, the network continues to show strong user engagement with 67,188 buyers, an increase of 22.38% from the previous period.

Solana (GROUND) maintains its third position with a turnover of 16.2 million dollars. Solana posted only a modest increase of 6.58%. However, the network is seeing strong user participation with 269,871 buyers.

Myth and ImmutableX chain (SMEs) round out the top five, with sales of $11.2 million and $10.6 million, respectively.

Ranking the chubby penguin head collection

The announcement of the launch of their PENGU token propelled Pudgy Penguins to first place with a revenue of $21.6 million. This represents an increase of 384.26% over the last seven days.