The Non-Fungible Token (NFT) market is experiencing a resurgence, as sales are up 22.43% and total $107.1 million in sales. Ethereum, on the back of a 1.6% recovery to $1,800, continues to drive the narrative. A few collections and blockchains are powering this renewal, even as others are experiencing drops.
Pudgy Penguins was one of the forerunners with a stunning breakout. The Bored Ape Collection has seen 334,637.93% growth in sales and 37,525% in sales transactions. The largest sale was Pudgy Penguins #6873 at 200 WETH ($360,238).
BNB Chain’s epic, stratospheric debut into the industry. It has now cracked the top 5, with $9.5 million in sales and a remarkable 160.48% growth as its own incredible success. Mythos Chain noted the highest number in the third position with $14.5 million as sales fell by 3.93%. Bitcoin remains in fourth place with $13.5 million, though sales were down 7.18%. Coming in fourth among the top blockchains, Solana saw $9.2 million in NFT trading, showing a slight increase of 3.45%.
Not all collections experienced growth. One other collection was the worst performing across all metrics, including transactions (decline of 18.42%), buyers (decrease of 58.82%), and sellers (decrease of 46.15%).
Second place DMarket is holding its position with $9.4 million in sales, but that’s down 5.04%. CryptoPunks #6472 realized a whopping 144 ETH, or $264,271. At the same time, CryptoPunks #2892 sold for 125 ETH ($231,157), BOOGLE #5DmKCchdChjStzLdsRVLMdSYzfB4w1ecdL5 hit 1,400.02 SOL ($203,520), and Autoglyphs #168 went for 85 ETH ($155,713).
Ethereum’s wash trading is down 13.89% at $3.1 million. This would be a better, healthier market environment characterized by less fraudulent ‘sales’ activity and more legitimate sales activity.
