No of Investors Buying NFTs Jump 90% This Week, As Bitcoin Halving Hype Heats Up

The crypto market, including the memecoin and non-fungible token market, has gained massive traction following the highly anticipated Bitcoin halving event scheduled later this weekend. The crypto market hype has pushed many individual investors, businesses and institutions to invest in digital assets that they speculate might generate significant gains post-halving.

Data compiled by CryptoSlam.io, an on-chain market aggregator, indicates that the number of investors buying and selling non-fungible token collections has largely increased this week. In the past seven days, the global NFT market has seen more than half a million collectors buying NFTs, representing a 91% rise from the past week.

During this period, the number of collectors selling their non-fungible token collections has risen above 200,000, representing an 88% surge from the past week. The combination of NFT selling and NFT buying has pushed the number of NFT transactions to nearly 2 million, representing a 7% surge from the past week.

Bitcoin Dominates The NFT Market This Week

Bitcoin, the same blockchain network powering the flagship crypto Bitcoin, is the top-traded blockchain network in the NFT ecosystem. In the past seven days, Bitcoin-based NFTs have amassed a trading sales volume of $150 million. Bitcoin NFT sales volume has surged 1.14% in the past week.

Ethereum, the recently dethroned NFT blockchain network that powers the majority of blue-chip NFTs, is this week’s second most-traded blockchain network in the NFT ecosystem. In the past seven days, Ethereum-based NFTs have recorded a trading sales volume of $54 million.

Solana, an open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, and Polygon, an Ethereum scaling solution, are the third and fourth most traded blockchain networks in the NFT ecosystem, respectively. In the past seven days, Solana NFTs have recorded a sales volume of $32 million, while Polygon-based NFTs have amassed a trading sales volume of $16 million.

Ten Most Selling NFT Collection In The Past 7 Days

Source: Cryptoslam.io, top-selling NFT collection in the past seven days

1. Bitcoin Ordinals NFT Collections

Bitcoin Ordinals, a non-fungible token collection created on the Bitcoin blockchain network that uses the Bitcoin creator Satoshi Nakamoto’s ordinal theory and comprises the most-hyped NFT collection like Runestones Ordinals, is this week’s most-selling NFT collection. In the past seven days, the Bitcoin ordinal collection has raised a trading sales volume of $42 million, representing a 22% drop from the past week.

2. $PUP BRC-20 NFT Collection

$PUP, an NFT collection created on the Bitcoin blockchain network using the BRC-20 protocol, is this week’s second most-selling NFT collection. In the past seven days, the $PUP BRC-20 NFT collection has amassed a sales volume of $34 million, representing a 16% surge from the past week.

3. $ WZRD BRC-20 NFT Collection

$WZRD, another non-fungible token collection created on the Bitcoin blockchain network using the BRC-20 protocol, is this week’s third most-selling NFT collection. In the past seven days, the $WZRD BRC-20 NFT collection has recorded a sales volume of $17 million. $WZRD BRC-20 NFT sales volume has skyrocketed 427% from the past week.

4. NodeMonkes NFT Collection

NodeMonkes, an NFT collection with a limited set of 10,000 NFTs hosted on the Bitcoin blockchain network, is this week’s fourth most-selling NFT collection. In the past seven days, the NodeMonkes NFT collection has recorded a sales volume of $8.3 million. The NodeMonkes NFT sales volume has dropped 33% from the previous day.

5. The Origin Pass NFT Collection

The Origin Pass, a non-fungible token collection hosted on the Polygon blockchain network, allowing holders to interact with artworks in various ways, from virtual reality viewing to creating custom virtual galleries, is this week’s fifth most-selling NFT collection. In the past seven days, the Origin Pass NFT collection has recorded a trading sales volume of $6.8 million.

Source: Cryptoslam.io, top-selling NFT collection in the past seven days

6. DMarket NFT Collection

DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted on the Mythos Chain blockchain network, is this week’s sixth most-selling NFT collection. In the past seven days, the DMarket NFT collection has recorded a trading sales volume of $6 million, representing a 74% drop from the past week.

7. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, an NFT collection from the famous digital asset incubation studio Yuga Labs featuring a fixed edition of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s seventh most-selling NFT collection. The Bored Ape Yacht Club has recorded a trading sales volume of $5 million in the past seven days. The Bored Ape NFT trading sales volume has plunged 18% from the past week.

8. Dokyo NFT Collection

Dokyo, a non-fungible token collection featuring a limited edition of 5,555 NFTs hosted on the Avalanche blockchain network, is this week’s eighth most-selling NFT collection. In the past seven days, the Dokyo NFT collection has amassed a trading sales volume of $4.8 million.

9. Mad Lads NFT Collections

Mad Lads, an NFT collection from the digital asset firm Coral featuring a limited set of 10,000 executable NFTs, also referred to as the next generation of NFTs hosted on the Solana network, is this week’s ninth most-selling NFT collection. In the past seven days, the Mad Lads has raised recorded a trading sales volume of $3.8 million.

10. Bitcoin Wizards NFT Collection

Bitcoin Wizard, an Ordinal NFT collection inscribed directly onto the Bitcoin blockchain that brings together art, history, and nostalgia in one package, is this week’s tenth top-selling NFT collection. In the past seven days, the Bitcoin Wizard NFT collection has recorded a trading sales volume of $3.8 million, closing our ten top-selling NFT collections this week.

NFT Market Prediction Post Bitcoin Halving

As the highly-anticipated Bitcoin halving event draws near, industry experts in the non-fungible token industry anticipate that the crypto milestone will not only impact the crypto market but also have a positive effect on the NFT ecosystem. While expressing his insight in a past interview, Oscar Franklin Tan, CFO of Atlas Development and a top contributor to the NFT platform Enjin, remarked:

“As Bitcoin’s price rises, we expect to see a rise in interest and demand for NFTs, particularly those integrated within altcoin ecosystems. These NFTs, unlike profile picture (PFP) projects, often receive token airdrops or serve as digital collectibles within the token-gated network.”

Statista, an on-chain analytic firm, projects the NFT market revenue to reach $2.3 billion in 2024. The firm also expects the NFT market to show an annual growth rate of 9.10% and reach $3.3 billion by 2028. The average revenue per user in the NFT market is projected to reach $162.1 in 2024.

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