Interest in NFTs is back - Ethereum again leads the charts

Initially in 2024, crypto investors did not show much interest in NFTs, but this has changed in recent weeks.

NFT sales are a major growth, with the activity of some collections increasing significantly. The market reported profits for the second consecutive week with sales growth of 10.95%.

Mixed presentation of the best collections

However, not everything is rosy. Based on Ethereum NFT collections like Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and CryptoPunks had mixed results. The sales volume of CryptoPunks fell by 59%, the average holding time also decreased, indicating that some investors are selling their “punks”.

On the other hand, MAYC saw a 53% drop in sales, but the average holding time increased by 74%, which means that Mutant Apes is being held more confidently by investors.

Despite its growing popularity, the cryptocurrency ApeCoin has not shown anything impressive. On the contrary, in less than a month, the price of ApeCoin has fallen by almost 16%, weighing heavily on the asset's future prospects.

Ethereum NFT Growth

The rise of Ethereum-based NFTs such as MAYC and CryptoPunks has once again put blockchain at the top of the NFT space. Months after Bitcoin dominated NFT transactions, Ethereum regained its place with $154.8 million worth of NFT sales in the last 30 days according to data from CryptoSlam .

This renewed interest in Ethereum's NFTs supports the network's activities and positively affects the price of ETH.

Bitcoin and Solana in the NFT Race

Bitcoin is now back in second place by NFT trading volume. Despite the popularity of collections like Node Monks and Bitcoin Puppets, Ethereum managed to steal the limelight.

If there is a continued decrease in NFT activities on the Bitcoin network, this could negatively impact the price of BTC. Solana is ranked third in terms of NFT trading volume, as Polygon lagging closely behind her.