NFT sales rally 28% with Bitcoin dominating the scene

After recording consecutive declines over the past week, non-fungible token (NFT) sales have gained momentum again, registering impressive gains. 

According to data provided by CryptoSlam, the global NFT sales volume surged by 28.1% in the past 24 hours and is currently hovering at $38.2 million. The total number of NFT transactions also increased by 26.2%, reaching 249,125.

However, the NFT wash volume declined by 15.2%, currently sitting at $10.6 million, per CryptoSlam.

Bitcoin is leading the scene with a 44% increase in its daily NFT trading volume, hovering around $15.9 million at the time of writing. Data shows that Bitcoin recorded $77,955 in wash trades over the past 24 hours.

Ethereum is following Bitcoin with a daily NFT sales volume of $10.9 million after recording a 32% rally. 

Moreover, the amount of Ordinals sales almost doubled in the past 24 hours, reaching $4.47 million in a total of 2,157 transactions. 

Digital collectibles sales surge while the leading NFT marketplace, Blur, records an 11% plunge in its trading volume. According to data from DappRadar, the total NFT sales volume on Blur is sitting at $14.14 million with an average price of around $2,930.

NFT marketplaces – March 26 | Source: DappRadar

Per DappRadar, the increase in global NFT sales comes majorly from Magic Eden, OKX NFT Marketplace and OpenSea with 48.45%, 63.15% and 18.66% surges over the past 24 hours. 

According to a report, NFT Price Floor co-founder Nicolás Lallement believes that the NFT ecosystem could potentially revive. He claims the major reasons for the comeback could be the very low layer-2 transaction fees after the Dencun upgrade and the meme coin craze that started with the latest bull run.

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