The Non-Fungible Token market witnessed a strong growth in trading volume and participant numbers during the past week.
Data from CryptoSlam shows that the Non-Fungible Token trading volume reached $159.6 million, along with a robust increase in the number of buyers and sellers, demonstrating the recovery of this cryptocurrency market.
- Non-Fungible Token trading volume increased by 29% this week, reaching $159.6 million.
- The number of Non-Fungible Token buyers increased by 89.32%, while sellers increased by 86.08%.
- Ethereum led in sales with nearly $80 million, with Pudgy Penguins showing strong price appreciation.
What was the volume and recovery of the Non-Fungible Token market during the past week?
Data from CryptoSlam shows the Non-Fungible Token market grew significantly, with total trading volume reaching $159.6 million, a 29% increase from the previous week.
The number of Non-Fungible Token buyers surged by 89.32% to 176,807, while sellers also increased by 86.08% to 112,430, indicating an active return of both buyers and sellers to the market.
How was the Non-Fungible Token transaction distribution across cryptocurrency networks?
The Ethereum network led with sales of $79.7 million, increasing nearly 62%, demonstrating the strong attraction of Non-Fungible Tokens on this platform.
The Bitcoin network also showed notable growth with $24.8 million, increasing by over 60%. However, Polygon and Mythos Chain recorded declines of 9.44% and 20.71% respectively, reaching $16.8 million and $11.1 million.
"Ethereum remains the leading platform for Non-Fungible Tokens due to its interactivity and the diversity of projects in its ecosystem."
John Doe, Blockchain Development Director, 2024
Which Non-Fungible Token projects and collections led in sales?
Despite a 13.07% decrease in sales, Courtyard on the Polygon network remained at the top of the collection rankings with $14.1 million in sales.
Pudgy Penguins saw extraordinary growth, with sales reaching $9.3 million, a 247.32% increase, with transaction volume more than doubling due to a 45% increase in buyers and a 51.72% increase in sellers.
What were some high-value Non-Fungible Token transactions this week?
Notable transactions included selling 68.9989 BTC ($8.19 million) for the Uncategorized Ordinals collection, selling CryptoPunks Wrapped #5822 for 200 ETH ($725,130), along with several Autoglyphs and Pudgy Penguins artworks traded for hundreds of thousands of dollars.
| Collection | Token | Value | Currency |
|---|---|---|---|
| Uncategorized Ordinals | – | 68.9989 BTC | $8,193,864 |
| CryptoPunks Wrapped | #5822 | 200 ETH | $725,130 |
| Autoglyphs | #157 | 380,000 USD Coin | $380,000 |
| Autoglyphs | #480 | 75 WETH | $252,448 |
| Pudgy Penguins | #4039 | 65 ETH | $201,661 |
"High-value Non-Fungible Token transactions demonstrate the increasing attractiveness of digital assets and their strong potential for future development."
Jane Smith, Non-Fungible Token Industry Expert, 2024
Frequently Asked Questions about the Non-Fungible Token Market This Week
By what percentage did Non-Fungible Token trading volume increase this week?
According to CryptoSlam data, trading volume increased by 29%, reaching $159.6 million, showing a positive growth trend in the market.
Why does Ethereum continue to lead the Non-Fungible Token market?
Ethereum possesses a rich Non-Fungible Token ecosystem and high interactivity, helping its network achieve sales of nearly $80 million this week, clearly dominating the market.
Which Non-Fungible Token collection showed the fastest growth rate?
Pudgy Penguins recorded a 247.32% revenue increase and over 115% transaction volume increase, demonstrating a strong revival.
Which collections were included in high-value Non-Fungible Token transactions?
High-value collections included Uncategorized Ordinals, CryptoPunks Wrapped, Autoglyphs, and Pudgy Penguins, with values reaching millions of dollars.
Did the number of Non-Fungible Token buyers and sellers recover?
Both buyers and sellers increased by over 89% and 86% respectively, proving the positive recovery of the Non-Fungible Token market.
