The NFT market has experienced a strong rally, with sales volume jumping by 37.10% to $144.8 million.
According to data from CryptoSlam, this marks the biggest weekly gain in recent months for the sector.
The spike coincides with Bitcoin’s (BTC) recent climb to the $105,000 mark. Ethereum (ETH) also had a slight 2.5% increase during the previous seven days. Last week, the total global cryptocurrency market cap increased from $3.28 trillion to $3.29 trillion.
Market participation has surged greatly with NFT buyers increasing by 50.56% to 1,061,348, and NFT sellers rising by 8.09% to 38,494. NFT transactions have also grown by 7.88% to 1,749,437.
Immutable dethrones Ethereum in sales
Interestingly, Immutable (IMX) has overtaken Ethereum to claim the top position with $41.7 million in sales. It has surged by 156.01% from the previous week. This is one of the first times Ethereum has lost its…
