NFT Markets Rebound With 18% Rise to $106M; Bitcoin NFTs Take Second Place Under Ether’s Lead

Between October 29 and November 5, 2023, sales of non-fungible tokens (NFTs) rose by 18.30% compared to the week before, reaching a high of $106.32 million. This week’s NFT statistics reveal an uptick in activity, with the number of buyers and sellers climbing by 17.77% and 15.82%, respectively.

NFT Market Revives With 7-Day Gains

Following a period of decline and unimpressive performance throughout October, NFT sales have rebounded in the last week. The previous week’s NFT sales stood at $89.87 million, but the current week showed an increase of 18.30%, reaching $106.32 million. Leading the charge, Ethereum-based NFT sales amassed $60.91 million, marking an increase of 8.55% this week.

Ethereum’s dominance was closely tailed by Bitcoin’s strong performance, which notched $13.17 million in sales over the week. These figures for Bitcoin-based NFTs rose by 154.75% compared to the previous week, with BTC-based NFTs hitting a record that hadn’t been seen in a significant span. Solana and Mythos followed, with Solana NFT transactions capturing $8.53 million and Mythos trailing close with sales worth $7.46 million.

Immutable X rounded off the top five blockchains for the week with $5.69 million in NFT sales. Bored Ape Yacht Club (BAYC) led the week’s top-selling NFT collections with $10.79 million in sales, followed by The Captainz, which amassed $8.54 million. Dmarket recorded sales of $7.39 million, while Bitcoin’s BRC20 NFTs hit $7.3 million. Additionally, Gods Unchained’s sales climbed over 53%, amounting to $5.42 million, with Bitcoin’s BRC20 NFTs making a leap of 224.89%.

The priciest NFT transaction of the week was BAYC #6022, fetching $303K. A BRC20 NFT followed, fetching $56K. “Tigris Position #10505,” an Arbitrum NFT, sold for $39K, while Emurgo, a Cardano-based asset, reached $32K in sales. Solana’s “Mad Lads #5364” rounded out the top five, changing hands at $31K. Although an 18% uptick in sales marks progress, sustaining this trend over the following weeks with consistent gains is necessary to offset the recent slump.

What do you think about this week’s NFT sales? Share your thoughts and opinions about this subject in the comments section below.