The Global NFT Market Has Started Soaring Again in Trading Sales Volumes After Facing a Severe Downturn in Recent Years

The NFT market has returned to the positive grid this week, following the footprints of the crypto market, which has also recently retested some surge.

The global non-fungible token market has started soaring again in trading sales volumes after facing a severe downturn in recent years, as indicated by significant price falls in major NFT collections.

The NFT market has returned to the positive grid this week, following the footprints of the crypto market, which has also recently retested some surge. It’s worth noting that the NFT market is heavily influenced by the increase in prices of Ethereum and Bitcoin.

NFT Sales Pumps 20% This Week

Data fetched by cryptoslam.io, a renowned on-chain crypto market data aggregator and a non-fungible token collection explorer backed by crypto billionaire Mark Cuban, indicates that the global non-fungible token market has recorded some positive gain this week, breaking its recent resistance barrier. In the past seven days, the NFT market has amassed a trading sales volume of $91 million, representing a 20.58% surge from the past week.

Ethereum, a decentralized blockchain peer-to-peer network renowned in the non-fungible token market for powering the most blue-chip NFT collections, is this week’s top-traded blockchain network in the NFT ecosystem. In the past seven days, the Ethereum-based NFT collections have amassed a trading sales volume of $32 million. During this period, the Ethereum NFT trading sales volume has surged by 25.43% from the past week.

Bitcoin, the blockchain network renowned in the NFT market for hosting Runes, BRC-20s, and Bitcoin Ordinals NFT collections, is this week’s second most-traded blockchain network in the NFT ecosystem. In the past seven days, the Bitcoin-based NFT collections have attracted a trading sales volume of $21 million. During this time, Bitcoin NFT trading sales volume has surged by 32% from the past week.

Solana, one of the popular open-source blockchains that support smart contracts, including non-fungible tokens and various decentralized applications, is this week’s third most-traded blockchain network in the NFT ecosystem. In the past seven days, the Solana-based NFT collections have attracted a trading sales volume of $16 million, up 34% from the past week.

The Mythos Chain, a permissioned Ethereum blockchain chain optimized for in-game assets that power the Mythical Games ecosystem and ensure secure and efficient transactions across the entire ecosystem, is this week’s fourth most traded blockchain network in the NFT ecosystem. In the past seven days, the Mythos Chain-based NFT collection has recorded a trading sales volume of $5.5 million, outperforming the Polygon network. During this time, Mythos Chain NFT trading sales volume has surged 21.22% from the past week.

Polygon, the largest scaling solution blockchain network in the Ethereum main net, has been this week’s fifth most-traded blockchain network in the NFT ecosystem. In the past seven days, the Polygon-based non-fungible token collections have amassed a trading sales volume of $4 million. During this period, Polygon NFT trading sales volume has surged by 1.02% from the past week.

Top Selling NFT Collections This Week

1. DMarket NFT Collection

DMarket, a non-fungible token collection from the DMarket NFT market platform created on the Mythos Chain blockchain network, is again this week’s top-selling NFT collection. In the past seven days, the DMarket NFT collection has recorded a trading sales volume of $5.2 million. During this period, the DMarket NFT trading sales volume has surged by 22.2% from the past week.

2. Uncategorized NFT Collection

Uncategorized, an ordinal collection created using the Satoshi Nakamoto Ordinal protocol, containing a diverse assortment of digital assets on the Bitcoin blockchain that have not yet been identified as part of an established collection, is this week’s second most-selling NFT collection. In the past seven days, the Uncategorized has recorded a trading sales volume of $4.8 million. The Uncategorized NFT sales have surged by 1,652% from the past week.

3. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, the popular non-fungible token collection managed by the digital asset incubation studio Yuga Labs featuring a limited set of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s third most-selling NFT collection. In the past seven days, the Bored Ape Yacht Club NFT collection has recorded a trading sales volume of $2.87 million. The Bored Ape NFT trading sales volume has surged by 45% from the past week.

4. Guild of Guardians NFT Collection

Guild of Guardians, an NFT collection from Guild of Guardians, a roguelite mobile role-playing game that lets players build their dream team of Guardians to battle against the corrupting threat of the dread while earning