NFT Market Rebounds with 17% Surge in Sales Amid New Collection Boom
May 22
2 min read
The NFT market is experiencing a significant resurgence, with total sales climbing to $130.7 million, marking a 17% increase. This growth is largely driven by a new collection, XSY Deposit, which has seen an astonishing 470% rise in sales. The renewed interest in NFTs comes despite a slight pullback in the broader cryptocurrency market.
Key Takeaways
Total NFT sales reached $130.7 million, up 17% from the previous week.
The number of NFT buyers surged by 138.96% to 259,264.
Ethereum remains the leading blockchain for NFT sales, totaling $41.3 million.
Newcomer collection XSY Deposit saw a remarkable 470% increase in sales.
Courtyard retains its top collection status despite a 31% drop in sales.
NFT Market Overview
The NFT sector has shown resilience, with a notable increase in market participation. According to data from CryptoSlam, the number of buyers has surged by nearly 135%, while sellers have also increased significantly. The total number of NFT transactions has seen a slight decline, but overall activity remains robust.
Total NFT Sales: $130.7 million
Total Buyers: 259,264 (up 138.96%)
Total Sellers: 137,347 (up 98.69%)
Total Transactions: 1,498,668 (down 1.14%)
Blockchain Performance
Ethereum continues to dominate the NFT landscape, with sales reaching $41.3 million, a 21.47% increase from the previous week. Bitcoin has made significant strides, climbing to second place with $22.6 million in sales, reflecting a 53.53% growth. Polygon, while still in the top three, has seen a decline in sales, totaling $14.5 million.
Blockchain | Sales ($) | Change (%) |
|---|---|---|
Ethereum | 41.3M | +21.47% |
Bitcoin | 22.6M | +53.53% |
Polygon | 14.5M | -22.85% |
Mythos Chain | 13.3M | -19.62% |
Solana | 8.9M | +17.31% |
Top NFT Collections
In terms of collections, Courtyard on Polygon remains the top performer despite a 31.02% drop in sales. The collection has seen declines across all metrics, including transactions and buyer counts. Notably, the BRC-20 NFTs on Bitcoin have surged to third place with a 107.81% increase in sales, while CryptoPunks have also shown impressive growth.
Top Collections:Courtyard: $11.7 million (down 31.02%)DMarket: $8.2 million (down 28.01%)BRC-20 NFTs: $7.1 million (up 107.81%)CryptoPunks: $7 million (up 97.09%)XSY Deposit: $6.8 million (up 469.59%)
Notable Sales
The NFT market has also seen some high-value transactions recently, highlighting the continued interest in digital collectibles. Some notable sales include:
Known Origin #30101: Sold for $410,532
CryptoPunks #3281: Sold for $384,286
Mutant Ape Yacht Club #30001: Sold for $194,815
As the NFT market continues to evolve, the recent surge in sales and buyer participation indicates a promising recovery, with new collections driving interest and engagement among collectors and investors alike.
Sources
NFT Sales Climb To $130.7M, New Collection Dominates With 470% Rise, TronWeekly.
NFT sales jump 17%, Newcomer collection boasts 470% spike, Crypto News.
Doodles NFT sales surge 97% ahead of DOOD token airdrop, Cointelegraph.