NFT Market Resilient: Ethereum Dominates with 81% of Total Sales

• NFT sales increased 1.23% last week to $232.49 million, with Otherdeed and Doodles seeing the highest growth of 44-58%.
• Ethereum accounted for 81% of total sales, followed by Solana at 27.4 million and Immutable X at 4.5 million.
• The most expensive NFT sales from the past week include Bored Ape Yacht Club #8,483 which sold for $581,000 and Cryptopunk #2,311 which sold for $511,000.

Overall Increase in NFT Sales

Non-fungible token (NFT) sales rose slightly last week, increasing 1.23% to $232.49 million in recorded sales. The top two NFT collections – Otherdeed and Doodles – saw growth of 44-58% compared to the previous week. 7-Day NFT Sales Increase; Otherdeed, Doodles See 44% to 58% Growth NFT sales remain steady this month with $39.72 million in recorded sales so far this month over the past seven days there were $232.49 million in NFT sales – a 1.23% increase compared to the previous week during that time 481,917 buyers participated in NFT sales 19.30% more than the previous week additionally 1,390,784 NFT transactions were processed 3 21 percent increase over the prior week

Dominance of Ethereum Network

Of the $232 49 million in sales Ethereum had the most out of the 20 blockchain networks listed on cryptoslam io Ethereum accounted for 81 percent of total NFT settlements or approximately 188 51 million in settlements The second largest blockchain network for NFT was Solana which processed 27 40 million during this period Immutable X ranked third with 4 5 Million dollars worth of total transactions

Most Expensive Sales

The highest floor value on February 5th 2023 was for Cryptopunks at 63 99 ether 8 00 am Eastern Time Second highest floor value belonged to BAYC Collection at around 63 5 ether The most expensive Non Fungible Token (NTF) sale from past one week includes Bored Ape Yacht Club #8 483 which sold for 581 000 dollars Seven days ago and then again sold after two days for 490 000 dollars And Cryptopunk # 2 311 Sold For 511 000 Dollars Three Days Ago

Other Popular Collections

Apart From ‘Otherdeed’ and ‘Doodles’ other popular collections are Mutant Ape Yacht Club (MAYC), Bored Ape Yacht Club (BAYC), and Checks VV Edition Fantom observed maximum rise 73 81 % although it only settled 17 064 Dollars Worth Of Non Fungible Tokens In Last Week

Conclusion

To conclude , Non Fungible tokens (NTFs) have remained steady this month with record transaction being processed over last one week . Ethereum remains dominant block chain network accounting for major share followed by Solana ,Immutable X making way into Top three . Most Expensive Sales belong To Bored Ape Yacht Club & Cryptopunk . Other Popular collections include MAYC ,BACY & Checks VV Edition .