NFT Market Shows Strong Recovery
NFT sales volume has more than doubled this week, reaching $256.9 million according to CryptoSlam data. That’s a 103% increase from last week’s $84.6 million in sales volume. The surge comes as Bitcoin’s rally to $122,000 appears to have energized the broader crypto market, with Ethereum climbing to $4,500 and the global crypto market cap reaching $4.2 trillion.
I think this is particularly interesting because the NFT market had been relatively quiet for a while. The sudden doubling of volume suggests renewed interest, though whether this momentum will continue remains to be seen.
Hypurrr Collection Dominates Sales
The Hypurrr collection emerged as the clear winner this week, generating $88.77 million in sales across just 850 transactions. What’s remarkable is that it attracted only 406 buyers and 645 sellers, yet managed to dominate the top individual NFT sales – taking four of the top five spots.
Moonbirds secured second place with $18.72 million in sales, posting a 254% increase. The Ethereum-based collection saw more balanced activity with 1,319 transactions involving 398 buyers and 424 sellers.
CryptoPunks claimed third position at $17.33 million, recording a massive 468% surge. Though it had only 26 transactions, the high-value nature of these sales contributed significantly to the overall volume.
Blockchain Performance Varies
Ethereum maintained its position as the leading blockchain for NFT sales, recording $97.4 million in volume – up 124% from last week. The network processed wash trading worth $20.84 million, bringing its total to $118.24 million. Buyer activity increased slightly with 104,625 buyers, up 3.55%.
HyperEVM took second place with $88.77 million in sales, though this was entirely driven by the Hypurrr collection’s performance. Interestingly, the blockchain recorded zero buyers in the tracked period, which raises questions about the nature of these transactions.
Mythos Chain ranked third with $13.07 million, up 17.69% from last week, while Bitcoin placed fourth at $10.97 million despite a 36% increase from the previous week.
Base dropped to fifth position with $10.92 million, down 19.71% from the previous week, though it maintained strong buyer participation with 284,780 buyers.
Individual NFT Sales Highlights
CryptoPunks #1563 led individual sales at $12.05 million (2745 ETH), sold two days ago. Four Hypurrr NFTs followed in the top five positions, all sold five days ago.
The concentration of high-value sales in just a few collections suggests that while overall volume has increased, the market activity might be somewhat concentrated rather than broadly distributed across many projects.
Perhaps this indicates that established collections with strong communities are benefiting most from the renewed market interest, while newer projects continue to struggle for attention. The coming weeks will show whether this trend continues or if the recovery spreads more evenly across the NFT ecosystem.
