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The Singh News Wire
Ethereum NFTs Dominate Sales, Trading Volume, and Market Cap as ETH Nears $4K
Ethereum-based non-fungible tokens (NFT) collections took over the latest seven-day sales rankings, accounting for nine of the top 10 collections by total sales volumes.
On Monday, CryptoSlam data showed nine of last week’s top 10 collections by sales volume were Ethereum-based NFTs, including popular collections CryptoPunks, Pudgy Penguins, Moonbirds and Azuki.
The only non-Ethereum collection in the top 10 was the Polygon-based Courtyard NFTs.
The surge in ETH-based NFT sales came as Ether (ETH) approached $4,000 mark. On Monday, ETH prices surged past $3,800, up nearly 27% from $3,000 on July 14. At the time of writing, ETH traded at $3,815.13, according to CoinGecko.
Ethereum-based collections dominate NFT charts
CryptoSlam data showed that CryptoPunks led the week with a $15.5 million weekly sales record, a 11,736% jump from the previous week. This made it the top-performing collection by a wide margin.
Pudgy Penguins and Bored Ape Yacht Club collections recorded $2.69 million and $2.38 million, respectively, claiming the second and third spots on the list. BAYC saw a 1,051% increase in sales and a sharp rise in buyers and sellers.
Meanwhile, DappRadar data told a different story. While nine out of the 10 collections at DappRadar were also Ethereum-based, the number one collection at DappRadar was Pudgy Penguins.
DappRadar showed that Pudgy Penguins had a trading volume of over $20 million, while CryptoPunks recorded $17.6 million.
According to the NFT data aggregator, the average sales price of Pudgy Penguin NFTs climbed to nearly $50,000, up 52% compared to last week. Meanwhile, CryptoPunks’ average sales rose to $155,000, a 21% increase.
CryptoSlam measures sales volumes, which count an NFT’s primary (minting) and secondary sales, whereas DappRadar measures the trading volumes, which include all transaction data from decentralized applications (DApps).
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Ethereum-based NFTs dominate by market capitalization
NFT Floor Price, which tracks the valuations of NFT collections, shows that nine out of the top 10 NFTs by market cap are Ethereum-based. The only outlier in the top 10 was the Solana-based NFT collection Mad Lads.
The data showed that CryptoSlam led the pack with a $1.8 billion valuation, while Pudgy Penguins followed in second place with a $556 million market cap. Third place went to BAYC, which had a valuation of nearly $500 million.
Apart from Ethereum NFTs dominating the top 10 charts, the broader NFT market was also rising. The NFT market jumped to $6.34 billion in the last 24 hours, up 21.2%.
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