NFT market rebounds, weekly sales up 15.59% month-over-month
The NFT market is recovering. According to CryptoSlam, NFT weekly sales in the past week reached $51.06 million, up 15.59% month-over-month; the number of buyers was 163,000, up 25.51%; and the number of sellers was 144,000, up 41.54%.
In the US stock market, Windโs US stock concept index shows that the NFT sector surged 14.02%, leading the whole market.
By chain, Ethereum NFTs recorded the highest weekly sales at $11.14 million (+14.55%), followed closely by Polygon at $9.06 million (+17.78%). Among leading projects, CryptoPunks saw a weekly increase of 175.23%, with weekly sales of $2.27 million.
The NFT sector index rose 4.25% over the past 24 hours, and the sectorโs total market value was about $9.74 billion.
Notable NFT sector tokens to watch:
$APE โ Governance token of the bored ape BAYC ecosystem, an absolute leader in the NFT collectibles track, directly benefiting from the rebound in NFT market sentiment.
$SAND โ The Sandbox metaverse platform token. It is central to virtual land and NFT asset trading, and tends to show the greatest upside when metaverse narratives heat up.
$MANA โ Decentralandโs native metaverse token. It serves as the foundational asset for trading virtual land and wearable NFTs, alongside SAND as the two โtop metaverse players.โ
Is this rebound a battle for existing liquidity or a trend reversal?
#NFT #APE #SANDUSTD