The Non-Fungible Token (NFT) market is showing signs of vigor as sales volume soared to $122.5 million, a significant leap of 101.61% compared to the preceding week. Ethereum leads the charge, contributing $77.6 million to the total volume, showcasing a robust growth of 179%. In contrast, Bitcoin-related NFT sales also witnessed an increase, jumping 127% to $21.7 million.
Amidst the fluctuating cryptocurrency landscape, with Bitcoin adjusting to $89,000 and Ethereum dipping below the $3,000 mark, the NFT sector remains resilient. Total crypto market capitalization slightly retracted to $3.02 trillion from a previous $3.22 trillion.
Notably, the Ethereum blockchain continues to dominate the NFT market, while buyer and seller numbers are on the rise across the board. However, the resurgence of CryptoPunks is a highlight, with a reported recovery of 25%. This resurgence indicates increased collector interest and confidence in one of the pioneering NFT collections.
Though the broader crypto markets experience turbulence, NFTs emerge as a dynamic and growing segment, capturing investor interest with significant sales activities and unexpected recoveries in cornerstone collections like CryptoPunks.
