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Bitcoin, Blockchain, Bored Ape Yacht Club, Cryptocurrency, Digital Collectibles, Ethereum, Mythos, NFT Sale, Polygon, Solana, Space Pepes, Uncategorized Ordinals
NFT Sales Up 31% This Week as Bitcoin NFTs Secure Second Place in Blockchain Sales – Market Updates Bitcoin News
Sales of non-fungible tokens (NFTs) witnessed a minor increase last week, registering a modest increase of around 1.46% compared to the previous week. The accumulated value of NFT sales amounted to $149.31 million from April 29 to May 6, 2023. However, the last week exceeded expectations as sales skyrocketed by 31.22%. During the seven-day interval, NFT sales achieved $208.17 million. The significant increase in this week’s NFT sales can be credited to the appearance of NFTs originating from the Bitcoin blockchain.
Bitcoin-based NFT sales gain significant momentum
Bitcoin NFT sales have emerged as a major contributor in the digital collectibles sales landscape, among 21 distinct blockchains according to cryptoslam.io data documented on May 14, 2023. Ethereum NFT sales continued to reign supreme with $111.26 million in NFT -sale; However, second place was held by Bitcoin-based NFTs, also known as Ordinal Inscriptions.
Data shows that Bitcoin NFT sales secured $53,433,451 and took second place in terms of blockchain sales out of the 21 chains. Bitcoin’s NFT sales increased by 187.54% compared to the previous week.
Mythos blockchain’s NFTs also experienced a significant boost as NFT sales surged 69.66% to claim $11.73 million this week before. The ascension propelled Mythos to the third largest ranking in terms of top blockchains by NFT sales volume.
Solana, which previously held the second largest spot, now ranks fourth in terms of NFT sales per blockchain. Over the past seven days, Solana has recorded $8,789,106 – a 21.16% decrease compared to the previous week. The fifth blockchain with the largest sales volume in the past week was Polygon’s $7.79 million, which was down 7.07%.
As for NFT collections, cryptoslam.io data reveals that “Uncategorized Ordinals”, essentially random Ordinals that are not part of any collection, achieved top collection status in sales this week. Uncategorized Ordinals managed to record $15.62 million in NFT sales.
Ethereum’s Bored Ape Yacht Club (BAYC) took second place this week with $13.80 million in total sales over the past seven days. The Mythos chain’s Dmarket collection secured third place, with the majority of Mythos’ NFT sales originating from the Dmarket collection’s transactions.
In fourth place, ORDI BRC-20 NFTs documented $11,044,110 in weekly sales, while Ethereum’s Milady Maker NFT collection collected $10,376,102 in sales during the same time frame and was ranked fifth this week. A notable climber this week regarding NFT sales was Bitcoin-based Space Pepes with $4,607,834 accrued over the past seven days – a 2,142.35% increase compared to last week.
Also, a single NFT from the series sold for $4.5 million, making it the most expensive sale of the week. Interestingly, the remaining five most valuable NFT sales in the past week all belonged to the Uncategorized Ordinals category.
What are your thoughts on the recent surge in NFT sales and the impact of Bitcoin-based NFTs? Share your opinions and insights in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons, cryptoslam.io
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