• Mon. Jul 22nd, 2024

Over 340,000 NFT buyers hit the market amid last week’s crypto rally

  • NFT buyers last week rose to 348,426, about 41% up on the previuos week.
  • NFT sales volume also rose, with more than $244 million in sales last week representing a 5.4% increase.
  • Sales (USD) volume and buyers increased in tandem with Bitcoin price hitting levels above $23,000.

Non-fungible token (NFT) data from last week shows the market attracted 348,426 buyers, roughly 41% higher than the previous week.

According to NFT data platform CryptoSlam, the buyer count of nearly 350,000 corresponds to a 40.99% this past week. 

As of Tuesday morning, 24 January, 2023, there had been over 419,000 unique buyers year-to-date. The uptick coincides with a rally across crypto, with volatility pushing Bitcoin price above $23,000 and Ethereum above $1,600 for the first time since early November 2022.

Indeed, as data from CoinGecko shows, Bitcoin’s price is currently up more than 7% this past week. Over the last two weeks, the flagship cryptocurrency’s value has soared 35%. 

Among top blockchains with most buyers on the 7-day timeframe, Ethereum leads with 146,380 (36% increase) and Solana is second with over 89,800 NFT buyers at 73% increase this past week. Cardano is third while BNB Chain ranks 7th but with a 74% spike in buyer participation.

NFT sales jumped 5% last week

At the same time, the global NFT sales volume in the past seven days indicates a 5.4% increase, with more than $244 million worth of NFTs traded in that time . The most sales volume was on Ethereum at almost $200 million, while Solana, Cardano, Immutable X and Polygon complete the top five as of 24 January.

Among the top 10, the WAX blockchain saw the most increase in NFT sales with 82%. Meanwhile, Solana and BNB Chain recorded the largest decline over the past week as NFT sales on these blockchains fell 20% and 33% respectively.

NFTs sales stood at $623,439,866 for the month, data from CryptoSlam showed ( as of 24 January 2023), with total NFT transactions year-to-date at nearly 4.2 million (it was 4.7 million for December 2022).

While there has been a slight decline in the metric compared to the previous week, the statistics suggest the NFTs market has seen trading volume and buyer participation swing alongside movements in the broader crypto market.

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