According to data gathered by LunarCrush, it was observed that global activity around NFTs reached new heights. In fact, the social mentions and engagements for the global NFT market witnessed a massive spike over the last week. This surge in activity on social media was caused by the collective interest generated in multiple NFT collections ranging from the Bored Ape Yacht Club (BAYC) to CryptoPunks and Meebits. Planet of the Apes This sudden increase in interest could have impacted the price of NFT collections such as BAYC. According to data provided by NFTGO, the floor price for BAYC NFTs increased by 15.02% over the last seven days. Along with that, the concentration of Whale Sales also increased towards the end of the week.
Other NFTs, such as CryptoPunks, also observed positive developments. Based on the data provided by DappRadar, the volume of the CryptoPunks NFT collection grew by 89.64% in the past week. At the time of writing, the volume of the CryptoPunks NFT collection was $91.19 million.
It was evident from the aforementioned data that top NFT collections were faring well even in this bear market.
But that was not the only indicator of a strengthening NFT market. In fact, the overall state of the NFT marketplaces also suggested a positive outlook for the sector.
Looking at the marketplace According to data provided by Dune Analytics, the overall number of sales being made on NFT marketplaces increased over the past few months. OpenSea dominated this sector and managed to have more sales than all other marketplaces.
Source: AMB CRYPTO
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