NFT trading volume surpasses $150 million weekly, signaling a market demand recovery

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According to the latest analysis from CryptoSlam, the NFT market is showing positive momentum. Last week, NFT trading volume reached $158 million, an increase of over 5% compared to the previous week, with a notable expansion in market participants.

Rapid Increase in Market Participants

The most noticeable change is in the key players of the NFT market. The number of buyers surged by over 126% to 382,881, and the number of sellers increased by approximately 124% to 341,290. This indicates that both sides of the market are becoming active simultaneously, beyond just a simple increase in trading volume. The actual number of transactions also rose by about 2.5% to 1,703,436 compared to the previous week.

Blockchain-specific Trading Ecosystem Analysis

Ethereum continues to lead NFT trading with $98.95 million, maintaining its dominant position and growing by over 20% compared to the previous week. The Base network saw a slight adjustment to $14.16 million but still holds the second position. Meanwhile, NFT trading volume on the Bitcoin network was $9.87 million, recording a decline of nearly 30%.

High-value NFT Transaction Cases

Transactions of premium NFTs are also active. The Bored Ape Yacht Club #1878 was sold for $1.65 million, and several CryptoPunks were sold for around $200,000 each, attracting collector interest.

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