Signs of renewed vigor in the non-fungible token (NFT) market are evident, as sales surged 22.43% to $107.1 million. Ethereum is leading the charge on this recovery, posting an outstanding 1.6% increase just in the last week. Explicitly linked to gold, it is now trading for around $1,800. We’re witnessing a remarkable surge in niche collections, such as Pudgy Penguins, and growing participation from other blockchains.
Ethereum still makes up over a third of the total market share, despite wash trading falling 13.89% down to $3.1 million. In third place is Mythos Chain at $14.5 million in sales, though they are down 3.93%. Bitcoin holds onto fourth place with $13.5 million, a drop of 7.18%. Solana completes the top blockchains’ list with $9.2 million and it is among the few blockchains to have grown by a small margin of 3.45%.
In the sales numbers, BNB Chain has made into the top five with only $9.5 million in sales, showing an increment of 160.48%. DMarket holds tight to second place with $9.4 million in sales, but that’s a decline of 5.04%.
Pudgy Penguins have made a remarkable recovery. The generative art collection now boasts a sales increase of 334,637.93% as well as 37,525% in transaction volume. One other collection experienced triple-digit declines on all three metrics – transactions (down 18.42%), buyers (down 58.82%) and sellers (down 46.15%).
Additionally, a handful of seven- and eight-figure NFT sales have led the overall market surge. Example sale—which sold Pudgy Penguins #6873 for the equivalent of 200 WETH, or $360,238 at the time. CryptoPunks also fetched high prices, with CryptoPunks #6472 selling for 144 ETH ($264,271) and CryptoPunks #2892 going for 125 ETH ($231,157). Not only that, BOOGLE #5DmKCchdChjStzLdsRVLMdSYzfB4w1ecdL5 sold for 1,400.02 SOL ($203,520). Autoglyphs #168 was sold for 85 ETH ($155,713).
