Weekly NFT Purchases Almost Double Amid Crypto Market Revival

In the wake of a significant resurgence in the global crypto market, the number of NFT purchases has nearly doubled this week, showcasing a robust upward momentum.

CryptoSlam reported a notable 42.74% increase in the number of investors buying NFTs by the end of February, with the total of NFT buyers now amounting to 861,918.

Such a surge in interest is part of a broader market uplift, whereby the NFT market volume has spiked by approximately 25.21% this week alone, pushing the total market volume to surpass $381 million. 

February, as a whole, has been an extremely favorable time for the industry, with 30-day trading volume highlighting buyers amplifying by 964.44% and sellers growing by 734.09%.

Check out: Are NFTs a Good Investment? 

A Glance at Top Performers 

In terms of 7-day volume in the NFT blockchain world, Ethereum leads the charge, with its NFT sales hitting $148.1 million, marking a 2.20% rise. The network is supported by a vibrant community of 99,681 buyers, which has expanded by 28.10%.

Close on its heels, Bitcoin has witnessed its NFT transactions soar to $133.8 million during the same span, experiencing a remarkable 92.48% surge. It now boasts a growing network of 47,922 participants, indicating a 46.32% spike. 

Solana also makes a significant contribution to the NFT world, with its 7-day NFT sales amounting to $58.7 million, an 18.98% leap. Impressively, it leads with the highest number of buyers at 314,955, a 60.91% rise from its earlier count.

The ‘Uncategorized Ordinals’ Bitcoin NFT collection currently tops the market with a $32.09 million sales volume, surging 181.15%, with transactions up 67.78% to 36,654. Buyer and seller numbers rose by 36.88% and 70.49%, respectively.

Trailing behind, ‘NodeMonkes’ on Bitcoin reached a $27.77 million volume, soaring by a whopping 288.41%, thus casting a light on the booming NFT realm. 

Collectively, each of these CryptoSlam figures underscores a vigorous revival of interest and investment in the NFT world. Bring on the bull run. 

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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