Ethereum NFTs Lead Market as ETH Approaches $4,000
Ethereum-based NFT collections continue to dominate the digital asset space, claiming nine of the top ten spots in weekly sales rankings. Leading collections like CryptoPunks, Pudgy Penguins, Moonbirds, and Azuki demonstrate Ethereum‘s strong position in the NFT market. The sole exception in the top 10 is Courtyard NFTs, built on the Polygon network. This sales surge coincides with Ether (ETH) nearing the $4,000 mark, showing a 27% increase from its July 14 price of $3,000.
Top Performing Collections
- CryptoPunks achieved $15.5 million in weekly sales, an extraordinary 11,736% increase from the previous week
- Pudgy Penguins recorded $2.69 million in sales
- Bored Ape Yacht Club (BAYC) followed closely with $2.38 million
Market Valuation Trends
The NFT market capitalization grew to $6.34 billion in the past 24 hours, marking a 21.2% increase. CryptoSlam leads with a $1.8 billion valuation, while Pudgy Penguins holds second place at $556 million. BAYC maintains third position with nearly $500 million in market cap.
Industry Perspective
“Ethereum’s NFT dominance highlights its reliability as a platform for digital assets,” notes a senior analyst from DappRadar. “The platform’s infrastructure continues to support significant trading volume and collector interest.”
