Non-fungible token (NFT) sales rose slightly last week, increasing 1.23% to $232.49 million in recorded sales. The top two NFT collections, Otherdeed and Doodles, saw growth of 44% to 58% compared to the previous week. Ethereum continues to dominate the NFT industry, accounting for more than 81% of total sales last week with $188.51 million in NFT sales.

7-Day NFT Sales Increase; Otherdeed, Doodles See 44% to 58% Growth

NFT sales remain steady this week and during February 2023, with $39.72 million in recorded sales so far this month. Over the past seven days, there were $232.49 million in NFT sales, a 1.23% increase compared to the previous week.

During that time, 481,917 buyers participated in NFT sales, 19.30% more than the previous week. Additionally, 1,390,784 NFT transactions were processed, a 3.21% increase over the prior week. Of the $232.49 million in sales, Ethereum had the most out of the 20 blockchain networks listed on cryptoslam.io.

Ethereum accounted for 81% of total NFT sales, or approximately $188.51 million in settlements. The second largest blockchain for NFT sales was Solana, which processed $27.40 million in the past week, a decrease of 2.65% from the previous week. Immutable X ranked third in NFT sales, with sales rising 37.85% to $4.5 million.

The remaining top NFT sales blockchains, in order, are Cardano, Polygon, Flow, BNB Chain, and Arbitrum. Fantom saw the largest increase in NFT sales this week, with a 73.81% rise, although only $17,064 in NFT sales were settled in the past seven days.

This past week, the top NFT collection was Otherdeed, with sales rising 44.37% to $17.33 million. Doodles saw a 58.49% increase, reaching $13.88 million in total sales. Otherdeed and Doodles were followed by Mutant Ape Yacht Club (MAYC), Bored Ape Yacht Club (BAYC), and Checks VV Edition.

The highest NFT floor value on February 5, 2023, was for Cryptopunks, at 63.99 ether at 8:00 a.m. Eastern Time. The second highest floor value belonged to the BAYC collection, with a slightly lower value of around 63.5 ether.

The most expensive NFT sales from the past week include: Bored Ape Yacht Club #8,483, which sold for $581,000 seven days ago but then sold again for $490,000 two days later; Cryptopunk #2,311, sold for $511,000 three days ago; Cryptopunk #9092, sold for $496,000 four days ago; BAYC #8,483, making the fourth largest sale after being sold twice; and Cryptopunk #9,611, sold for $482,000 four days ago.

The fifth most expensive sale was Cryptopunk #9,611, followed by Hausphases #379, which sold for $461,000 on Sunday, Feb. 5, 2023.

What do you think will be the next big NFT collection to make waves in the market? Share your thoughts in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, cryptoslam.io,

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The smart contract token economy rose 5.6% against the U.S. dollar on Thursday, reaching $332 billion. Additionally, the value locked in decentralized finance (defi) increased to nearly $50 billion, a record high not seen since the collapse of FTX.

Smart Contract Economy and Defi TVL Bounces Back

On Thursday, Feb. 2, 2023, the top smart contract platform coin economy increased to $332.86 billion, a rise of 5.6% in the last 24 hours. Currently, roughly $20.44 billion in global trading volume is paired with smart contract tokens. Of the top ten smart contract crypto assets by market capitalization, polygon (MATIC) led in 24-hour gains, rising 12% in the last day. Aptos (APT) followed with the second-largest increase, jumping 10.4% higher on Thursday.

Polkadot (DOT), chainlink (LINK), and solana (SOL) all experienced notable gains in the last day, jumping 6% to 7.1% higher. Smart contract coins outside the top ten that saw significant increases include near protocol (NEAR), which rose 11.4%, and fantom (FTM), which jumped 17.5% on Thursday. Parsiq (PRQ) was the largest gainer with a 27.7% increase, while counterparty (XCP) was the biggest smart contract token loser, shedding 9.9% on Thursday.

The value locked in decentralized finance (defi) has also risen and is near the $50 billion range, at approximately $49.48 billion. Lido Protocol leads the defi pack, as its total value locked (TVL) today represents 17.32% of the $49 billion on Thursday.

Lido’s TVL increased by 5.79%, and the second-largest defi protocol, Makerdao, jumped 2.97% in 24 hours. Rocket Pool experienced one of the biggest defi protocol increases in the last day with a 7.38% rise. According to defillama.com statistics, the top 20 defi protocol TVLs have all seen double-digit increases in the last 30 days.

Ethereum remains the top chain in decentralized finance today, as its defi protocols dominate the total value locked (TVL) by 59.4%. Ethereum is followed by Tron, Binance Smart Chain (BSC), Arbitrum, and Polygon, respectively, in terms of TVL size on Feb. 2, 2023.

Changes over the past month show that the top ten blockchains in terms of defi TVL have also seen double-digit increases in TVL. The largest increase in the last month was Optimism’s TVL, which increased by 47.41% over the 30-day span. The last time the TVL in defi was this high was in Nov. 2022, just before the crypto exchange FTX collapsed.

What do you think about the market performances of smart contract tokens on Feb. 2 and the rise in defi’s TVL? Share your thoughts in the comments sections below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.