Ethereum and Solana Drive NFT Sales Surge to $109 Million, Up by 7%

NFT sales have surged by 7% to over $109 million, with Ethereum and Solana leading the way in the past week. The NFT market experienced a significant increase in sales volume, reaching over $109 million, marking a 7.68% rise, according to recent data from Crypto Slam.

Despite a decrease in the number of NFT buyers and sellers by 68.00% and 67.78%, respectively, the sales volume soared. The number of NFT transactions spiked by nearly 21% to reach 2,435,539 trades, indicating increased activity among remaining market participants.

Ethereum retained its position as the top contributor to NFT sales volume, accounting for over $36.5 million, despite a 16% decrease compared to the previous period. Solana followed closely with the second-highest sales volume of over $27 million, showing a significant increase of almost 38% from the previous week.

Polygon showcased an impressive surge in sales volume, totaling over $23.2 million, marking a 70% increase in trading activity on the network. Bitcoin contributed approximately $15.9 million, experiencing a slight decline of over 3% in sales volume.

Smaller contributions from Mythos and Immutable X added up to the total of $109 million. Despite some networks experiencing declines, the overall market trend indicated robust growth, especially on emerging platforms like Solana and Polygon.

The data reflects the dynamic nature of the NFT market, with varying trends across different networks. The surge in sales volume underscores the renewed interest and activity in the NFT sector, with Ethereum and Solana leading the charge in driving this growth.