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NFT market revival: Ethereum takes the lead as sales surge

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NFT sales volumes increased by 10.95% in the past week. Ethereum surpasses Bitcoin in terms of NFT volumes and takes the number one spot.

While crypto investors weren’t initially flocking to NFTs in 2024, the past few weeks have seen a shift in the market. NFT sales are on the rise, with some collections experiencing significant surges in activity.However, the picture wasn’t entirely rosy. Ethereum-based NFT big names like Bored Ape Yacht Club , Mutant Ape Yacht Club , and CryptoPunks haven’t seen uniform growth.

The average holding time for MAYC NFTs skyrocketed by 74%, indicating investors are holding onto their Mutant Apes with confidence. The rise of Ethereum NFTs like MAYC and CryptoPunks has propelled Ethereum back to the top spot in the NFT space. For months, Bitcoin dominated NFT transactions, but renewed interest in Ethereum NFTs has revitalized the network’s overall activity.

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