Weekly NFT Sales Increase 2% to $61 Million – InsideBitcoins

The global non-fungible token market has started to recover from the recent crash, which left NFT trading volumes and active traders down +70% from their initial peak. The NFT market collapsed last year amid Donald Trump’s trade wars with China and Canada, among other key factors. In another week, the global NFT market showed slight signs of recovery, with trading volume increasing 2% to $61 million.

Weekly NFT sales increase by 2%

Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and multi-chain non-fungible token collection explorer that tracks collections across more than 20 blockchain networks, indicates that the global non-fungible token market saw an uptick in sales volume this week. From January 12 to 18, the NFT market recorded a trading volume of $61 million, up 1.98% from the previous week.

The crypto and NFT markets saw a sharp slowdown last year. Key factors contributing to the NFT decline included escalating U.S.-China trade tensions, macroeconomic pressures, fundamental utility and security issues, a major futures market sell-off event, and a corresponding shift in market sentiment toward fear. These key factors pushed the NFT market to fall +70% from its initial peak.

Even though the NFT market has not fully recovered from its recent crash, the number of crypto investors purchasing collections of non-fungible tokens has increased significantly this week. From January 12 to 18, the global non-fungible token market saw over 140,000 traders purchasing digital collectibles. NFT traders are taking advantage of this drop in the NFT market, hoping to make profits in the future.

Ethereum, the blockchain network recognized in the NFT market as the dominant NFT chain, was the most traded network this week. From January 12 to 18, Ethereum-based NFTs saw $29 million in trading volume. During this period, Ethereum NFT trading volume increased by 12% compared to the previous week.

Bitcoin, a peer-to-peer blockchain network known for supporting Ordinal, Runes, and BRC-20 non-fungible token collections, was the second most traded blockchain network in the global NFT market this week. From January 12 to 18, Bitcoin-based NFT collections saw a trading volume of $9.5 million. During this period, Bitcoin NFT transaction sales volume decreased by 7.39% compared to last week.

BNB Chain, a decentralized blockchain ecosystem created by the Binance team that offers a fast and low-cost platform for Web3 applications, ranked third in the NFT market this week. From January 12 to 18, the BNB Chain NFT series recorded a trading volume of $7.6 million, an increase of 3.1% from the previous week.

Immutable From January 12 to 18, the Immutable-based NFT collection recorded a trading volume of $4.1 million. Meanwhile, Immutable NFT trading volume increased by 10% compared to the previous week.

Panini, a proprietary blockchain network developed by “Panini America” for the purchase, sale and exchange of officially licensed digital trading cards, was the fifth most traded blockchain in the NFT market. The Panini blockchain uses Hyperledger Sawtooth, a private and secure blockchain designed to ensure the authenticity and ownership of digital assets. Over the past seven days, the Panini NFT collection saw a trading volume of $2.6 million, up 4.32% from the previous week.

Best-selling NFTs this week

1. Yes Bond NFT Collection

Yes, Bond, a collection of high-ranking non-fungible tokens created on BNB Chain, a decentralized blockchain network created by Binance, providing a fast and low-cost platform for web3 applications, was the best-selling NFT collection on the NFT marketplace. Over the past seven days, the Yes Bond has seen a sales volume of $3.1 million. Meanwhile, Yes Bond NFT sales volume increased by 13% compared to last week.

2. CryptoPunks NFT Collection

CryptoPunks, a globally recognized non-fungible token collection featuring a limited edition of 10,000 pixelated digital items previously created by digital asset incubation studio Larva Labs but now managed by Infinite Node Foundation, was the second best-selling NFT series on the NFT marketplace this week. Over the past seven days, the CryptoPunks NFT series saw $2.7 million in trading volume, down 12% from the previous week.

3. Panini America NFT Collection

Panini America, a collection of non-fungible tokens on the private Panini blockchain network that allows collectors to own, trade and sell officially licensed digital trading cards in a manner similar to physical cards, with each asset carrying a unique identifier to ensure authenticity, was the third best-selling NFT collection this week. Over the past seven days, the Panini NFT series has generated $2.4 million in trading volume.

4. Ape.bond NFT Collection

Ape.bond was the fourth best-selling NFT collection this week, with a trading volume of $2.2 million. Ape.bond is a DeFi NFT representing discounted tokens that vest over time, allowing users to acquire project tokens like ABOND at a discounted rate by trading other assets like LP tokens, functioning as an on-chain OTC market for projects to raise capital and users to earn yield.

5. GoG Heroes NFT Collection

Guild of Guardians Heroes (GoG), a collection of non-fungible tokens from Guild of Guardians, a blockchain mobile multiplayer, action, and fantasy role-playing game that allows players to take on the role of heroes and move through dungeons to collect tradable resources, was the fifth best-selling NFT collection on the global NFT marketplace this week. Over the past seven days, the GoG Heroes NFT collection has raised $2.1 million. Meanwhile, GOG Heroes NFT sales jumped 8.24% from last week.

6. Chubby Penguins NFT Collection

Pudgy Penguins, a collection of non-fungible tokens from digital asset incubation studio Igloo, including a limited edition of 8,888 penguin NFTs hosted on the Ethereum blockchain network, was the sixth best-selling NFT collection this week. Over the past seven days, the Pudgy Penguins NFT collection has generated $2 million in trading volume. Meanwhile, NFT sales fell 2.17% from last week.

7.$X@AI NFT Collection BRC-20

$X@AI, a famous non-fungible token collection created on Bitcoin, a peer-to-peer blockchain network, using the BRC-20 protocol, was the seventh best-selling non-fungible token collection on the global NFT market this week. Over the past seven days, the $X@AI BRC-20 NFT collection has seen $2 million in commercial sales volume. During this period, the sales volume of NFT $X@AI BRC-20 jumped 48% compared to last week.

8. Good Vibes Club NFT Collection

Good Vibes Club, a premium non-fungible token collection featuring a fixed set of 6,969 NFTs with unique 3D profile photo on the Ethereum blockchain network, created by award-winning animation studio Toast in partnership with SuperRare, was the eighth best-selling NFT series on the NFT marketplace last week. Over the past seven days, the Good Vibes NFT collection has generated $2 million in trading volume.

9.$ ?? BRC-20 NFT Collection

$??, another non-fungible token series created on Bitcoin, a renowned peer-to-peer blockchain network, using the BRC-20 protocol, was the ninth best-selling non-fungible token collection on the global NFT market this week. Over the past seven days, the $ ?? The BRC-20 NFT collection generated $1.9 million in trading volume. Meanwhile, the $?? BRC-20 NFT transaction sales volume jumped 24% from last week.

10. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, a globally recognized non-fungible token collection from digital asset incubation studio Yuga Labs, featuring a limited edition of 10,000 profile photos hosted on the Ethereum blockchain network, was the tenth best-selling NFT collection last week. Over the past seven days, the Bored Ape Yacht Club NFT collection has generated $1.7 million in commercial sales volume. Meanwhile, commercial sales of the Bored Ape Yacht Club NFT jumped +29% from last week.

The NFT market forecast

The global NFT market is expected to grow significantly in the coming months, with forecasts suggesting it could reach hundreds of billions by the mid-2030s. This substantial growth will be driven by increased adoption in gaming, entertainment and institutional investing, despite short-term volatility. Key drivers will include metaverse integration, utility beyond collectibles and celebrity participation, with technologies such as machine learning used to predict prices based on sentiment, macroeconomic factors and technical indicators. Industry experts predict that the NFT market will likely rise again, but not in the same way it did during the 2021 boom.

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