The NFT Market Starts The New Week Up 25% – Is The NFT Bull Run Coming Back Again?

The non-fungible token market has began the brand new month of February 2024 with some constructive development, marked by elevated buying and selling gross sales quantity throughout Ethereum and Solana NFT collections. On this article, we will consider whether or not the market resurgence marks the kickoff of the second part of the NFT market bull run.

NFT Gross sales Pump 25% This First Week Of Feb 2024

Knowledge fetched by Cyptoslam.io, a famend on-chain crypto market knowledge aggregator, signifies that the non-fungible token market has recorded constructive development this primary week of February 2024. Prior to now 24 hours, the NFT market has amassed a gross sales quantity of $35 million, representing a 25% spike from the day past.

Ethereum, the biggest adopted blockchain community, is essentially the most traded blockchain community within the NFT ecosystem. Prior to now 24 hours, the Ethereum-based NFT collections have attracted a buying and selling gross sales quantity of $17 million, representing an 81% spike from the day past.

Bitcoin, the blockchain community famend within the NFT marketplace for its BRC-20 and Ordinal NFT collections, is right this moment’s second most-traded NFT assortment. Prior to now 24 hours, the Bitcoin NFT assortment has amassed a buying and selling gross sales quantity of $7.2 million. Nevertheless, Bitcoin NFT gross sales vol has plunged 16.38%.

Solana and Avalanche are the third and fourth most traded NFT collections. On the time of publishing, Solana-based NFT collections have amassed a buying and selling gross sales quantity of $6 million, whereas Avalanche-based NFTs have recorded a buying and selling sale quantity of $1.3 million. Throughout this era, Solana NFT gross sales have surged 40.26%, whereas Avalanche NFT gross sales have soared 15.80%.

5 High-Promoting NFT Collections Right now

1. No one NFT Assortment

No one, a newly launched NFT assortment hosted on the Ethereum blockchain community, is the main NFT assortment in buying and selling gross sales quantity. Prior to now 24 hours, No one NFT assortment has amassed a buying and selling gross sales quantity of $6.8 million. The NFT assortment has seen greater than 5000 transactions settled on it.

2. Bitcoin Ordinals “Uncategorized”

Bitcoin Ordinal, an NFT assortment created on the Bitcoin blockchain community utilizing Satoshi Nakamoto’s ordinal idea, is now the second most-selling NFT assortment. On the time of publishing, Bitcoin Ordinals recorded a buying and selling sale quantity of $1.9 million.

3. Dokyo NFT Assortment

Dokyo, an NFT assortment of 5,555 digital objects hosted on the Avalanche blockchain community, is right this moment’s third top-selling NFT assortment. On the time of publishing, the Dokyo NFT assortment has raised a buying and selling gross sales quantity of $1.2 million. Dokyo NFT gross sales quantity has surged 12.84% from the day past.

4. Transdimensional NFT Assortment

Transdimensional, a newly launched NFT assortment hosted on the Solana blockchain community, is right this moment’s fourth most-selling NFT assortment. Prior to now 24 hours, the Transdimensional Fox Federation NFT assortment has attracted a buying and selling gross sales quantity of $1.15 million, representing a 164% surge from the day past.

5. Mutant Ape Yacht Membership NFT Assortment

Mutant Ape Yacht Membership, an NFT assortment from the digital asset agency Yuga Lab that includes a restricted version of 20,000 mutant apes hosted on the Ethereum blockchain community, is the fifth most NFT assortment right this moment. On the time of writing, the Mutant Ape Yacht Membership NFT assortment had raised a buying and selling gross sales quantity of $1 million.

Is The NFT Market Bull Run Again?

The non-fungible token market, as soon as pronounced lifeless after greater than 95% of NFTs dropped to just about zero worth, got here again to life someday in November final 12 months following the resurgence of newly launched Solana-based NFTs and Bitcoin-based BRC-20 NFT collections.

Since then, the non-fungible token market has been experiencing a greater than two-month market bull run earlier than it pale someday in mid-January 2024. The NFT market is anticipated to soar, with its market income projected to achieve $2.378 billion in month-to-month gross sales by the tip of this 12 months. The current surge most likely signifies the potential kickoff of a extremely anticipated bull run.

Associated NFT Gross sales:

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