NFT sales hit $76.56 million for the week, up 66.58%.
Don’t rush to call it a recovery. All the growth came from one chain: Bitcoin chain sales reached $31.07 million, up 268% and accounting for 40% of the global total; Ethereum reached $24.64 million, up 32.59%. Outside those two chains, things were much quieter.
Why was it so concentrated? One collection alone accounted for a third of the total. The BRC-20 collection $X @AGI sold more than $25 million in a week. Its largest single sale was $14.63 million, paid in 175.2058 BTC, and it took four of the top five spots by sales volume.
There were 764,000 transactions and 135,900 seller addresses, up 53%. Transactions are up, and so are the number of people—that part is real. But volume was propped up by a single standout, not broad-based growth.
Volume is back; not everyone is.
What should we watch next week? How much Bitcoin-chain volume remains without this collection. If it holds up, that’s a recovery; if it doesn’t, then one big deal simply carried the week.
Volume is back; not everyone is.
Don’t rush to call it a recovery. All the growth came from one chain: Bitcoin chain sales reached $31.07 million, up 268% and accounting for 40% of the global total; Ethereum reached $24.64 million, up 32.59%. Outside those two chains, things were much quieter.
Why was it so concentrated? One collection alone accounted for a third of the total. The BRC-20 collection $X @AGI sold more than $25 million in a week. Its largest single sale was $14.63 million, paid in 175.2058 BTC, and it took four of the top five spots by sales volume.
There were 764,000 transactions and 135,900 seller addresses, up 53%. Transactions are up, and so are the number of people—that part is real. But volume was propped up by a single standout, not broad-based growth.
Volume is back; not everyone is.
What should we watch next week? How much Bitcoin-chain volume remains without this collection. If it holds up, that’s a recovery; if it doesn’t, then one big deal simply carried the week.
Volume is back; not everyone is.