NFT Market Shows Strong Recovery Amid Crypto Downturn
Over the past week, the NFT market recorded $122.5 million in sales volume, which represents a 101.61% increase from the previous period. This growth is particularly interesting because it’s happening while Bitcoin has retreated to around $89,000 and Ethereum slipped below $3,000. The broader crypto market cap actually decreased from $3.22 trillion to $3.02 trillion, making the NFT sector’s performance stand out even more.
What I find notable is the participation metrics. NFT buyers climbed 38.75% to 187,288, while sellers jumped 47.19% to 164,685. Transaction volume increased 7.99% to 702,526. These numbers suggest that more people are getting involved, not just the same traders moving assets around.
Ethereum Dominates Blockchain Rankings
Ethereum really led the charge here with $77.57 million in NFT sales, which is a 179.42% increase over the seven-day period. The network attracted 23,994 buyers, up 38.03% from the prior week. There was some wash trading on Ethereum totaling $4.63 million during this timeframe, but that’s relatively small compared to the overall volume.
Bitcoin secured second place with $21.66 million in sales, soaring 126.61% week-over-week. The network drew 8,333 buyers, up 60.71% compared to the previous period. BNB Chain ranked third with $7.52 million in sales, though this actually declined 3.20% despite buyer activity rising 68.29% to 24,784.
Immutable dropped to fourth position at $3.70 million in sales, down 10.98%, while Base claimed fifth with $3.55 million, climbing 88.69%. Solana rounded out the top six blockchains with $3.32 million in sales, posting an 8.85% gain and attracting 30,235 buyers who surged 84.73% from last week.
Collection Performance Varies Widely
Flying Tulip PUT on Ethereum dominated the collection rankings with $51.57 million in sales, showing flat performance week-over-week. The collection processed 2,103 transactions from 1,516 buyers. Meanwhile, $X@AI BRC-20 NFTs on Bitcoin claimed second place with $15.71 million in sales, surging 687.41% over the week.
What’s interesting about the $X@AI collection is that it completed just nine transactions from seven buyers, which suggests some very high-value individual sales. YES BOND on BNB Chain landed in third with $4.18 million in sales, climbing 28.15%.
CryptoPunks took fourth position with $4.01 million in sales, recovering 46.74% after last week’s 23.81% decline. This modest recovery for one of the most established NFT collections might indicate renewed interest in blue-chip assets.
Record-Breaking Individual Sales
The week’s highest-value sale was particularly striking. A $X@AI BRC-20 NFT on Bitcoin sold for $13.73 million (153.5837 BTC) just one day ago. Two additional $X@AI pieces followed, fetching $1.01 million (11.2771 BTC) two days ago and $895,348 (10.0001 BTC) three days ago.
CryptoPunks claimed two spots among the top five individual sales, which perhaps shows that while newer collections are getting attention, established projects still have their place in the market.
Overall, this week’s data paints a picture of an NFT market that’s finding its footing again, with Ethereum leading the recovery and some surprising individual sales making headlines. The increased buyer and seller participation suggests growing confidence, though it’s still early to say if this trend will continue.
