NFT sales have risen by 37.41% amid a surge in Ordinals on the Bitcoin network. CryptoSlam statistics record market recovery: trading volumes are growing, and the number of active participants is increasing.
Whales Exit, Retail Picks Up
A shift is happening in the market. Large capital and whales are winding down positions in expensive Bitcoin inscriptions, but the overall weekly volume has reached $88.29M (from $65.58M the previous week). At the same time, retail investors have taken the dynamics as a signal to buy.
Over the week, the number of unique buyers in the market has grown by 22.9% and reached 342,044 addresses. Instead of rare large deals, the network now processes thousands of small transactions. Traders are using the bottom-fishing strategy—they catch assets at price bottoms while institutions adjust their positions.
Growth of CryptoPunks and BAYC
Ethereum has yielded first place in volumes to Bitcoin, despite the overall market growth. Here too, an influx of new blood is evident: the number of buyers has grown by 22.9% across the entire market (to 342,044 wallets). The volume of wash trading in the network amounted to about $6M for the previous week (data for Jan 26-Feb 1).
Against the backdrop of overall dynamics, Base and BNB Chain stand out. The Base network has increased sales by 57.21% ($0.85M in 24 hours), and BNB Chain has added 38.98% ($0.73M in 24 hours).
Classics Are Getting More Expensive
While the market recovers, proven collections go against the trend. CryptoPunks have boosted volume by 292.65% ($1.01M in 24 hours), and Bored Ape Yacht Club (BAYC) have added 1.41% ($0.26M in 24 hours). Both projects confidently hold in the top-10 by volume. The leader remains the Flying Tulip PUT collection with a turnover of $0.42M in 24 hours (+84.21%).
The current dynamics correlate with pressure on the prices of base assets—Bitcoin and Ether. If the trend of growing wallet numbers persists, the NFT market risks finally changing its format: from a closed club for whales, it turns into a more decentralized and accessible environment.
This post is for informational purposes only and does not constitute advertising or investment advice. Please do your own research before making any decisions.