Cloud Hosting

In the week ending July 6, the NFT market finally hit a green patch, with impressive sales volumes across the Ethereum (ETH) and Solana (SOL) blockchains. Heres a detailed look at the weeks top performers and trends.

Looking at data from Crypto Slam, Ethereum led the NFT sales volume charts this week, amassing a staggering $44.3 million. This total included $36.77 million in direct sales and an additional $7.538 million from wash trading, affirming Ethereums stronghold in the NFT ecosystem.

The direct sales numbers were a 15.66% improvement from the previous week, although total sales were still down more than 8%.

Solana followed, leveraging its fast and cost-effective transactions to achieve $24 million in sales, which was a 34.3% increase from last weeks figures. Of the amount, $22.4 million came from direct transactions and $1.6 million from wash trading.

Interestingly, the wash trading on Solana went up by more than 83%, with the direct sales also reflecting a 31% improvement from the previous week.

Bitcoin (BTC), known primarily for its cryptocurrency dominance, recorded $15.886 million in sales a 14.51% drop from the week ending June 30. The amount included $15.63 million from direct sales and a modest $255,349 from wash trading.

Despite a scalable platform, Polygon (MATIC) had a poor week, generating only $20.11 million in sales, split between $12.03 million in direct sales and $8.08 million from wash trading. The figure represented a dip of more than 18% from the prior week.

Mythos Chain (MYTH) rounded out the top five. It recorded $3.80 million in sales. The majority of this, $3.79 million, came from direct transactions, with minimal wash trading, reflecting a stable growth in its user base.

Among the top NFT collections by sales volume, DMarket on the Mythos Chain led with $3.53 million in sales, spread across 153,277 transactions involving 11,568 buyers and 9,295 sellers. However, the amount was nearly 16% lower than last weeks haul.

Ethereums Pudgy Penguins closely followed with $3.45 million, achieved through only 99 transactions, highlighting the high value of each trade.

Solanas DogeZuki Collection earned $3.19 million in sales from 73,404 transactions, showcasing its popularity among collectors. Another Solana collection, Mad Lads, recorded $3.12 million in sales through 239 transactions, indicating a high level of engagement.

The iconic Bored Ape Yacht Club (BAYC) on Ethereum rounded out the top five with $2.57 million in sales from 83 transactions, maintaining its elite status in the NFT world.

Read more from the original source:

NFT market roundup: Ethereum, Solana dominate, CryptoPunks lead the pack - crypto.news