Bitcoin NFT Sales Surge on the Blockchain
The past week saw a significant increase in the volume of non-fungible tokens (NFTs) on the Bitcoin network, indicating a stabilization in the industry. According to CryptoSlam, Bitcoin NFT sales rose by 56% to over $20 million, with the number of buyers experiencing a 48% increase to 29,403. NodeMonkes emerged as the top-performing NFT collection, surpassing $3.4 million in sales and 302 transactions, outperforming other popular collections like Immutable X’s Guild of Guardian Heroes.
Ethereum and Solana Lead the NFT Market
While Ethereum continued to dominate the NFT market with sales worth $28 million, Solana and BNB Chain also demonstrated strong performances with $13 million and $3.7 million in sales, respectively. Despite a 48% decline in total NFT sales in September, Ethereum, Bitcoin, and Solana still managed to generate substantial sales figures of $108 million, $63 million, and $61 million, respectively.
Market Recovery Boosts Bitcoin NFT Sales
The revival in NFT sales coincided with the recovery of cryptocurrency prices, notably Bitcoin reaching $66,000 for the first time since July. The overall market cap of cryptocurrencies surged to $2.3 trillion as the crypto fear and greed index entered the greed zone, signaling increased risk appetite among traders. Factors like Federal Reserve policy adjustments, China’s economic stimulus, and the decreasing stablecoin holdings by smart money investors have contributed to this optimistic market sentiment.
