NFT Market Flourishes With an 11.62% Rise This Week; Largest Ordinal Inscription Fetches Record 8 BTC

Sales of Non-fungible tokens (NFTs) have witnessed a notable uptick this past week, climbing 11.62% to hit $442.02 million over the previous seven days. The most significant transaction was the sale of the ‘Alien’ Cryptopunk #3,100, donning a headband, for $16 million, with Bitcoin-based NFTs claiming the lead in sales volume across 22 different blockchains.

7-Day $NFT Sales Jump 11.62%

This week saw another increase in $NFT transactions, with Bitcoin-based NFTs at the forefront, amassing $166,090,817 in sales. The demand for Bitcoin digital collectibles soared by 14.26% from the previous week, according to cryptoslam.io figures.

Leading the charge were two collections on the Bitcoin blockchain, with Uncategorized Ordinals and Nodemonkes drawing in $41.46 million and $37.02 million, respectively. The Natcats Tap NFTs collection also made a significant impact, gathering $11,227,067 in sales, securing the fourth position.

Ethereum-based $NFT transactions were hot on Bitcoin’s heels, registering the second-highest sales at $165,264,274. Cryptopunks led the Ethereum collections, becoming the third-largest in weekly sales with $27,041,685.

Additionally, Bored Ape Yacht Club (BAYC) and Pudgy Penguins contributed significantly to Ethereum’s success this week, securing sales between $11,210,023 and $10,978,077. Overall, Ethereum $NFT sales enjoyed an 11.72% increase from the preceding week.

Ranking third to fifth in $NFT sales were the Solana, BNB Chain, and Mythos Chain blockchains. The Blast blockchain experienced the most substantial weekly growth, surging 196.64% to reach $5,306,912 in sales.

Bitcoin.com News highlighted the sale of the ‘Alien’ Cryptopunk #3,100 for $16 million as the week’s pinnacle. Notable sales included Solana’s Boogle #071 for $355,368 and an Uncategorized Ordinal $NFT for $353,833.

Moreover, the largest Ordinal inscription, the Runestone, was auctioned for 8 BTC ($544,713) on Friday. Leonidas, the Runestop creator, stated that all proceeds from this auction would support the network fees for the Runestone airdrop initiative.

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