The non-fungible token, or NFT, market has shown decent growth amid Bitcoin’s historic breakthrough exceeding $100,000.

The surge in cryptocurrency prices continues as Ethereum (ETH) strengthens its position, climbing 3.5% in the last 24 hours to reclaim the $4,000 level.

The global cryptocurrency market capitalization has expanded to $3.67 trillion from last week’s $3.42 trillion. This is a 2.3% increase over the last day, with Bitcoin (BTC) trading around $99,611 at last check Saturday. See below.

According to the latest data from CryptoSlam, the NFT market has experienced a major upswing, with total sales volume reaching $196.2 million. This is a 34.23% increase from last week’s $146.5 million. 

The market metrics show expansion across all key indicators:

• NFT buyers have increased to 693,833, showing a healthy 20.29% growth
• NFT sellers have grown to 402,069, with a 15.97% increase
• NFT transactions have slightly decreased by 1.92% to 1,405,054

Ethereum Leads with major Growth

The Ethereum NFT blockchain has shown the highest performance, nearly doubling its sales volume to $100.9 million. This marks a 97.33% increase in the last seven days. The network has attracted 61,020 buyers, representing a 23.15% growth. Notably, wash trading also increased by 52.79% to $18.2 million, indicating heightened market activity.

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Author: Vignesh Karunanidhi