Despite the current turbulence in the cryptocurrency market, the non-fungible token market has increased significantly this week, boosting just 1% from the previous week.In the last seven days, the global NFT trading sales volume has surged by around $300 million.The performance this week shows that most investors remain positive about NFTs.
The NFT market has continued to be dominated by non-fungible tokens housed on Ethereum, the second-largest blockchain behind Bitcoin, with sales increasing by more than 120%.In the last seven days, Ethereum NFTs have seen trading sales of $172 million.This week, Solana NFTs have shown some initiative.In the last seven days, the price of Solana non-fungible tokens has increased by 330%, regaining market domination.Earlier this month, Solana NFTs’ market dominance was eroded as Bitcoin NFTs overtook them as the second most popular NFTs to trade.A $41 million trading sales volume has been noted.
This week, trading volume for Bitcoin NFTs increased 91%, adding to the overall uptick.Bitcoin Ordinals have seen $37 million in trade sales over the last day.This week saw a modest decline in NFTs hosted on Polygon, an Ethereum scaling network, with a $6 million trading sale.The number of investors dealing on the NFT market has marginally increased throughout this time.Investors who purchased non-fungible tokens increased by 26% to 1,168,880 over the previous seven days.This week, NFT transactions increased by 2% to around 2.5 million.