The bitcoin (btc) network recorded the highest number of non-fungible token (nft) sales last week, as total transactions reached a staggering $423,004,860.
The sales mark an increase of more than 32% compared to the previous week and mark the third consecutive week of solid growth in the nft market.
According data Compiled by Cryptoslam.io, bitcoin emerged as the dominant force in nft transactions, leading the charge with $160.37 million in sales, representing a notable 80.45% increase.
ethereum (eth) followed closely, with $159.64 million in transactions, marking a respectable 14.41% increase in eth-based nft sales.
Other notable blockchains including Solana (SOL), BNB Chain (BNB), and Mythos Chain (MYTH), also saw substantial growth in nft sales during this period.
Data from Cryptoslam shows that Solana raked in around $65.129 million in weekly sales, with BNB Chain and Mythos ending the seven days with $9.019 million and $7.7 million in sales, respectively.
Of the chains, bitcoin also saw the biggest spike in wash trading, with the $465K earned through the practice representing a nearly 2,600% increase from the previous week.
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The week's top-grossing nft collections were led by bitcoin Uncategorized Ordinals, which raked in an impressive $41,210,717 in sales, a substantial 157.74% increase from the previous week .
It was closely followed by the NodeMonkes collection, which achieved $35,128,917 in transactions. These leading collections were followed by Pandora, Creepz, and $NATCATS, rounding out the top five nft collections by sales volume.
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The surge in nft sales also sparked some notable individual transactions on various blockchains. On the bitcoin blockchain, the “Burgie” nft sold for a staggering $1.44 million, while a Solana-based nft titled “Composable Recovery Position” changed hands for $1.1 million. of dollars.
The nft “Lif3 v3 Position” from ethereum fetched $597,800, and a “Lockdeal” nft from the BNB chain was purchased for $416,504. Additionally, a Polygon “Dfyn” nft was sold for $100,000, reflecting the diversity and value of NFTs on different platforms.
Over the past week, the number of nft buyers has also increased; Cryptoslam data shows a 40.5% increase, juxtaposed with a 2.47% drop in the total number of nft transactions in the period.
However, amid this surge in nft sales, the popular Opensea marketplace faced a major drop in February.
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Analytics platform data. Dune show that sales on OpenSea decreased substantially, with only 33% of total nft sales in February, the lowest figure since May last year. Active users on the platform also decreased: only 103,000 users made at least one sale in February.
