NFTs soar almost 20% following weekend pump

NFTs soar almost 20% following weekend pump

Uptober is hitting strong. After such a troublesome year, NFTs and the overall markets are enjoying green days. Sales volumes are growing almost 20% on the day, with a 7% weekly increase.

NFT sales volumes soar high

Today’s activity reaffirms the enduring presence of digital assets markets. The NFT market kicked off the day with impressive sales, attracting artists, collectors, and investors in droves. Cryptoslam data reveals that in the last 24 hours, market sales have surged by 19.5%.

Delving deeper into the numbers, while the daily sellers experienced a modest growth of 0.31%, the daily buyer count skyrocketed almost 20 times that rate, witnessing an approximate 6% increase (+5.93%) at the time of writing.

As the third week of October unfolds, there has been a noticeable uptick in the crypto sector. Just last week, the NFT market registered a 26% daily increase in sales after news of the SEC’s (Securities and Exchange Commission) failed appeal against crypto asset manager Grayscale.

NFT 24h data
NFTs 24h data. Source: CryptoSlam

Week in review: The broad perspective

When we zoom out and compare today’s pulse to the week’s rhythm, patterns emerge. The weekly NFT Sales Volume of $73,500,410, reflecting a 7.75% increase, offers a broader narrative. It speaks of sustained interest leveraged by a month.

The weekly report showed NFT Buyers growing by a substantial 17.77%, while Sellers enjoyed a 15.8% boost. These figures, when juxtaposed against the day’s stats, provide a nuanced view. While daily fluctuations are a given, the week’s consistent growth underscores the market’s positive trends and the allure of a different and more bullish narrative.

DMarket’s weekly sales of $9,528,104, Gods Unchained Cards‘ $4,724,797, and Bored Ape Yacht Club’s $4,197,199 were the stars of the show. These collections, with their varying transaction percentages, paint a picture of diversity, competition, and the constant evolution of tastes and preferences.

The silent catalyst

Ethereum, is the week’s leading blockchain platform with a sales volume of $38,787,749 (an 11.65% growth), which reinforces its status as the backbone of the NFT ecosystem. Following Ethereum, Mythos Chain and Solana also made waves, reflecting the expanding horizons of space, and the potential of different blockchains to deploy differentiated and compelling collections.

It’s not just about the big players. The week witnessed platforms like ImmutableX, Polygon, and Bitcoin carving out their niches.

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