The market saw over 340,000 NFT buyers as crypto rallied

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  • NFT buyers increased to 348,426 last week, up almost 41% from the previous week.
  • NFT sales volume also increased, with over $244 million in sales last week, representing a 5.4% increase.
  • Selling volume (USD) and buyers increased as bitcoin price reached levels above $23,000.

non-fungible token (nft) Last week’s data shows that the market attracted 348,426 buyers, an increase of about 41% over the previous week.

As per NFT data platform cryptoslamThe buyer count of around 350,000 matches the previous week’s 40.99%.

As of Tuesday morning, January 24, 2023, there were more than 419,000 unique shoppers year-over-year. The uptick coincides with a rally across crypto, with volatility rising bitcoin price Above $23,000 and Ethereum above $1,600 for the first time since early November 2022.

Indeed, as data from CoinGecko shows, the price of bitcoin is currently up more than 7% over the past week. The leading cryptocurrency has gained 35% in value over the past two weeks.

Among the top blockchains with the most buyers on the 7-day time frame, Ethereum leads with 146,380 (up 36%) and Solana is second with over 89,800 NFT buyers, up 73% over the past week. Cardano is at the 3rd position while BNB chain is at the 7th position but has seen a 74% increase in buyer participation.

NFT sales grew 5% last week

At the same time, the past seven days indicate a 5.4% increase in global NFT sales volume, with over $244 million worth of NFTs traded in that time.

The highest trading volume on Ethereum was around $200 million, while solanaCardano, Immutable X and Polygon complete the top five as of January 24.

in the top 10, wax blockchain NFT sales saw the highest growth of 82%. Meanwhile, Solana and BNB chains posted the biggest declines over the past week as NFT sales on these blockchains fell by 20% and 33%, respectively.

NFTs sales for the month were $623,439,866, data from CryptoSlam showed (as of January 24, 2023), with total NFT transactions year-over-year at nearly 4.2 million (for December 2022 it was 4.7 million).

While the metric is down slightly compared to the previous week, the figures show that the NFTs market has seen trading volume and buyer participation in tandem with the movements in the broader crypto market.

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