Ethereum Tops the Charts in Weekly NFT Sales With $44.7 Million in Sales Volume
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The NFT market saw Ethereum maintain its leading position, with over $44.7 million in sales volume in a week. That means out of all the blockchains, Ethereum is the top choice for users, with 154,892 buyers and 21,679 sellers.
The ongoing discussions about gas fees and network congestion have not stopped major projects in the Ethereum NFT space, such as Bored Ape Yacht Club, Azuki, and Art Blocks, from drawing the attention of both collectors and investors.
Bitcoin Gains Momentum Through Ordinals
No one expected it, but Bitcoin ranked equally with SuperRare in NFT sales at $23.1 million. Largely, this increase is the result of using Ordinals, a technology for creating NFTs on the Bitcoin network.
Even though Bitcoin has fewer buyers and sellers than Ethereum, the increased activity in NFTs on Bitcoin is worth noting. This shift means that Bitcoin, formerly only used for financial transactions, is now acting as a medium for digital art and collectibles.
Polygon Dominates in Users, Places Third in Volume
The reason Polygon is attracting attention is its large number of users, as it brought in $15.97 million in NFT sales this week. It saw the highest number of buyers (214,297) and sellers (36,182).
Mythos, Solana, and Immutable are the Other Tier Frontrunners
Game-related NFTs and digital assets are gaining in popularity, as shown by Mythos’ fourth-place finish with $8.59 million of sales. Close behind, Solana managed to bring in $5.92 million, keeping its reputation as an affordable option for NFT operations
Another chain in the Web3 gaming space called Immutable had $5.84 million, showing a rise in interest for platforms marrying NFTs with gaming.
Avalanche, BNB Chain, Arbitrum, and Flow Also Made it to the Top 10 List
Both Avalanche and BNB Chain achieved the same results, with each getting $4.13 million and $1.59 million in sales volume.
In addition, this week, Arbitrum saw 65,518 buyers making $1.54 million in sales, which proves it is still gaining traction.
With origins in NBA Top Shot, Flow has reported $1.43 million thus far, indicating its system is still holding its base as other businesses compete.
Base and Panini Showing Signs
Base and Panini saw some positive signs of interest from their users, despite not being among the top 10. The total amount of sales for Base came to $566,402 and was sold to 9,863 buyers, while Panini raked in $540,304 in sales from 40,443 buyers.
The Big Picture: Cross-Chain NFT Growth Continues
This weekly overview demonstrates the current development of NFTs across various platforms. While Ethereum leads in the raw statistics, the growth of Bitcoin, Polygon, and games on Mythos and Immutable are creating a more competitive environment for NFTs.The NFT space is becoming active in art, gaming, identity, and collectibles, all the while becoming more diverse and colorful.
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