The NFT market has experienced a significant resurgence recently, marked by an increase in transaction activity. This growth reflects a rising interest in digital collectibles, as evidenced by the notable uptick in both buyer and seller participation.
From February 15 to 22, transaction activity rose by 11.6%, totaling $148.18 million. Key highlights include:
- Buyer participation: Increased by 64.49%
- Seller engagement: Grew by 49.42%
Ethereum continues to dominate the market, generating $74.61 million in sales, a 25.24% increase. Other platforms also showed varied performance:
- Bitcoin: $20.75 million (down 26.95%)
- Polkadot’s Mythos: $15.37 million
- Solana: $11.04 million
- Polygon: $9.25 million
Mythos’ Dmarket led the week’s collections with $10.17 million, closely followed by Ethereum’s Doodles at $9.18 million. The highest-priced NFT sold during this period was a “f(x) wstETH position #425” for $435,486, surpassing Bitcoin’s WZRD BRC20 and Cardano’s Earthnode 551. This data suggests a market adapting to Ethereum’s dominance while also welcoming new competitors, indicating a shift towards more active buyer-seller dynamics rather than mere speculation.
📎 Related coverage from: bitcoin.com