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Bitcoin leads NFT markets as average price soar to highest mark since May 2022

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AI-generated via DALL-E

Bitcoin recorded US$9.8 million in non-fungible token (NFT) sales in the 24 hours to 12:30 p.m. ET on Monday, the most in the industry, according to CryptoSlam data.

Bitcoin closed March with US$514 million in total NFT sales, which was its best month since last December, and a 70% increase from the previous month.

CryptoSlam data shows that NFT prices are rising across all blockchains, with the average sales price reaching the highest level in almost two years.

March had an average NFT sale price of US$175, which is the most expensive these assets have been since May 2022.

Last month, Bitcoin NFTs had the highest average sales price since March 2023, at US$1,918.

Bitcoin’s all-time sales volume is now above US$3 billion, a mark crossed last week.

Meanwhile, Ethereum, which had the second-highest sales volume on Monday with just over US$9 million, saw its monthly volume drop by 11% in March to US$489 million.

The average Ethereum NFT price last month of US$754 is the highest since May 2022, when they had an average price of US$2,222.

Solana took the third spot on Monday despite a 14.72% daily sales drop to US$5.5 million.

Solana also had its most successful month for NFTs in March with US$216 million in monthly sales, a 12.4% bump from February.

The average sale price of Solana-based NFTs soared past US$100 for the first time since April 2023.

The day’s fourth-ranked blockchain, Mythos, has shown a notable increase in sales by 27.08%, reaching US$1.21 million.

DMarket, a collection that represents NFTs and in-game items on Mythos, led the day’s NFT collection rankings with US$1.18 million.

DMarket and Ethereum-based Bored Ape Yacht Club were the only two projects on Monday with at least US$1 million in sales.

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