NFTs Are Back in the Game: Bull Run Fuels Million-Dollar JPEGs

Surging Sales and Skyrocketing Participation

Non-fungible tokens, or NFTs, are making a thunderous comeback, riding the wave of crypto's bull run with sales soaring, participation surging, and those million-dollar JPEGs reentering the fray.

This week, NFT sales skyrocketed 29% to a whopping $159.6 million as Ethereum (ETH) and Bitcoin (BTC) hit new highs, pumping up both investor confidence and transaction volume. Ethereum still reigns supreme for NFT action, but Bitcoin's not far behind—thanks to a mind-blowing 3,000% spike in Ordinals.

Collections like Pudgy Penguins and CryptoPunks are leading the charge, with whales diving back in and trading floors sizzling across ecosystems. Buyer and seller counts have nearly doubled, hinting at the NFT market's loudest comeback yet. Stick around for the juicy details.

Market Rebounds with a Vengeance

Market participation is back with a bang: NFT buyers are up by a staggering 89.32% to 176,807, and sellers have risen by 86.08% to 112,430. NFT transactions have also surged by 20.61% to 1,627,841.

Ethereum and Bitcoin Lead the Charge

Ethereum's holding its ground with a dominant $79.7 million in sales, up 61.83% from last week. Wash trading on Ethereum has exploded by 134.47% to $11.8 million.

Bitcoin's not playing around either, snagging second place with $24.8 million, a 60.58% jump. Polygon (POL) is in third with $16.8 million, but it's down 9.44%. Polygon's wash trading has nosedived by 80.84% to just $175,171.

Mythos Chain is in fourth with $11.1 million, down 20.71%. BNB Chain (BNB) holds fifth with $7.2 million, a drop of 8.25%.

Immutable (IMX) has climbed to sixth with $6.5 million, up 2.82%. Solana (SOL) rounds out the top seven with $6.4 million, up 12.75%.

Buyer Count Soars Across Blockchains

The buyer count has shot up across all blockchains, with Bitcoin leading the pack at a 137.56% growth, followed by Polygon at 104.21% and Mythos Chain at 104.01%.

Top Collections: Courtyard, Pudgy Penguins, and Ordinals

Courtyard on Polygon is still king of the hill with $14.1 million in sales, though it's down 13.07%. It's seen massive growth in buyers (445.76%) and sellers (1,135.16%).

Pudgy Penguins has rocketed to second place with $9.3 million, up a whopping 247.32%. Transactions more than doubled (115.31%), with buyers up 45% and sellers up 51.72%.

Uncategorized Ordinals on Bitcoin has soared to third with $8.6 million, posting a jaw-dropping 3,095.72% growth, riding Bitcoin's coattails.

DMarket has slipped to fourth with $6 million, down 32.25%. f(x) wstETH position is in fifth with $5.9 million, down 62.27%.

Bitcoin's BRC-20 NFTs are in sixth with $5.8 million, up 33.41%. CryptoPunks has stormed into the top seven with $4.8 million, surging 118.16%.

Notable High-Value Sales

This week saw some blockbuster sales that had everyone talking.

Crypto Market Update

As of Saturday, Bitcoin was hovering just below $118,000, after touching a new all-time high of $123,000. Ethereum, meanwhile, spiked 21% in the last seven days, hitting $3,581.

The global crypto market cap is now at a staggering $3.93 trillion, up from last week's $3.68 trillion.