• Bitcoin’s voyage into the NFT market has made it a strong contender for Ethereum’s position.
• The migration of some Solana NFTs to Polygon has negatively affected its volume.

Sales of various assets in the NFT world significantly surged as the usual suspect, Bored Ape Yacht Club [BAYC], registered the most volume. With $18.16 million, BAYC ensured that Ethereum [ETH] collections’ volume rose by 242.29% in the last seven days.

The increase means that BAYC, alongside other collections like Azuki, gained immense traction. This implied that they have become highly sought after by collectors and investors alike. 

Switched to a positive outlook

This was an improvement from the momentum a few weeks back. However, there was a notable change in trend based on the data provided by CryptoSlam. Like Ethereum NFTs, Bitcoin’s [BTC] collection also produced a 242% increase.

Usually, Ethereum-based NFTs constitute a large percentage of the top 10 collections, most of the time. However, this was not the case over the week, as BAYC’s sister collection, Mutant Ape Yacht Club [MAYC], lost to Uncategorized Ordinals — a collection operating on the Bitcoin blockchain.

This shift could be linked to the rise of Go to Source to See Full Article
Author: Victor Olanrewaju

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