KEY POINTS
Ethereum has once again clinched the top position in non-fungible token (NFT) sales, possibly driven by last week’s SEC approval of Ether ETFs.
Data from CryptoSlam shows that Ethereum NFTs have experienced a 21% increase in sales volume in the last 24 hours and a 25% increase over the past week. This surge has allowed Ethereum to regain its leading status, after recently lagging behind Bitcoin.
Significant Ethereum NFT sales over the last 24 hours include Azuki 3374, which sold for over $393,000, Pixelmon 546 for more than $67,000, and three Bored Ape Yacht Club (BAYC) NFTs — 8274, 1569, and 7069 — each fetching over $50,000.
Top Ethereum NFT sales in the last 24 hours. Data source: CryptoSlam
Despite this recent uptick, Ethereum’s overall sales figures remain lower than earlier this year. With the month not yet over, May’s Ethereum NFT sales total slightly over $142 million, a figure that parallels the market downturn experienced in September 2023. When compared to the previous 30 days, sales are down by 54%.
April also saw a significant drop in Ethereum-based NFT sales, falling to $240 million from March’s $489 million. During this period, Bitcoin NFTs outperformed Ethereum, generating over $600 million in sales.
The competition between Ethereum and Bitcoin in the NFT market has been intense over recent months. In April, Ethereum briefly reclaimed the top spot in daily NFT sales, surpassing Bitcoin with $7.8 million in 24-hour sales.
A similar trend was observed in mid-February when Ethereum’s NFT market surged, with sales increasing by nearly 97% over the previous week. Leading collections like Pandora, Nobody, and Pudgy Penguins were at the forefront of this growth.
