{"id":576961,"date":"2024-02-27T01:00:26","date_gmt":"2024-02-27T01:00:26","guid":{"rendered":"https:\/\/uniquehot.com\/?p=576961"},"modified":"2024-08-17T13:14:40","modified_gmt":"2024-08-17T13:14:40","slug":"arbitrum-beats-ethereum-and-solana-with-119-surge-in-nft-sales-nft-resurgence-on-the-horizon","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/all\/arbitrum-beats-ethereum-and-solana-with-119-surge-in-nft-sales-nft-resurgence-on-the-horizon\/","title":{"rendered":"Arbitrum Beats Ethereum and Solana With 119% Surge In NFT Sales, NFT Resurgence On The Horizon?"},"content":{"rendered":"

Arbitrum (ARB), the Ethereum Layer 2 scaling solution, has been facing a bearish week after failing to establish a new price floor<\/a> and falling below the $2 level. Additionally, the unlocking event scheduled for March could negatively impact the token\u2019s price.<\/p>\n

Despite ARB\u2019s recent drop, the blockchain has seen a greater performance in the non-fungible token (NFT) market, surpassing Ethereum and Solana.<\/p>\n

Related Reading: Arbitrum (ARB) Faces Potential Selling Pressure As 1 Billion Tokens Become Unlocked In March<\/a><\/div>\n

Arbitrum: Top Gainer In The Last Day<\/h2>\n

Data from Crypto Slam shows<\/a> that the daily NFT sales volume in the Arbitrum blockchain recovered in the last 24 hours. The blockchain is the fourth largest by total NFT volume sales, showing a recent performance larger than Ethereum or Solana.<\/p>\n

\"\"<\/p>\n

Top ten blockchains by NFT sales volume in the last 24 hours. Source: Crypto Slam<\/pre>\n
The chart above shows that Arbitrum is the top gainer after seeing a 119.41% surge in sales volume, over $1.26 million, during the last 24 hours. The blockchain also registered an 8.09% increase in wash sales from the day prior. Despite the rise, it only accounts for 0.11%, or $1,489, of the total sales volume.<\/p>\n
Wash trading is a practice used to inflate an asset\u2019s value artificially. As a form of market manipulation, the trader buys and sells the same asset, usually through a third party, to create the impression of a higher market activity of said asset.<\/p>\n
Wash sales in the NFT market can happen through a single seller creating multiple accounts to trade the NFT or two sellers scheming to buy and sell each other\u2019s digital assets.<\/p>\n
The Arbitrum blockchain had 8,094 transactions during the last day, which accounts for a 9.04% increase. Its demand and offer of NFTs also rose by approximately 10%, with 3,557 buyers and 1,904 sellers in the previous 24 hours.<\/p>\n
Solana and Ethereum saw a milder increase in their daily volume sales, with 26.69% and 5.42% respectively. Solana<\/a> had a total sales volume of $10.9 million, divided by $9.17 million in authentic sales and $1.77 million in wash sales, which is 16.21% of the total volume and a 9.37% surge from the day prior.<\/p>\n
Despite the sales volume being worth almost eleven million dollars, the demand and offer saw a significant 21.21% transaction drop and a 15.6% buyer decrease on the last day.<\/p>\n
On the other hand, the NFT sales in the Ethereum blockchain saw a 2.9% drop in its total daily sales volume. Similarly, the number of transactions faced a slight 3.79% decline, with 23,931 transactions.<\/p>\n
However, it\u2019s worth noting that wash sales in the Ethereum blockchain saw a significant 19.33% decrease, with $7.14 million in the last 24 hours.<\/p>\n
Is An NFT Resurgence In The Horizon?<\/h2>\n
The daily sales volume suggests a recent interest in some of the NFTs offered in the Arbitrum and other top blockchains. However, said interest could be a momentary thing in this ever-changing market. To paint a bigger picture, let\u2019s look at what the 7-day time frame data suggests.<\/p>\n
As seen in the chart below, five of the top ten blockchains by NFT sales volume have increased in this timeframe. Arbitrum, Bitcoin, and BNB Chain are among the top gainers in the last week.<\/p>\n
\"\"<\/p>\n
Top ten blockchains by NFT sales volume in the last 7 days. Source: Crypto Slam<\/pre>\n
Arbitrum remains the biggest winner with its massive 373.18% surge. The number of buyers and sellers also increased exponentially, with a 69% surge (approximately 35,000 buyers) and a 56% increase (27,000 sellers) in the past week.<\/p>\n
Ethereum<\/a> takes the first spot as the blockchain with the largest NFT sales volume of $202.5 million. However, Solana remains the winner in the transaction and the user\u2019s metric. The blockchain saw 860,714 transactions in the past week, with over 242,041 buyers and 144,395 sellers.<\/p>\n
Besides the sales volume, the transactions and buyer\/seller numbers shone some light on the NFT market in the past week. These numbers, green in the top ten blockchains by NFT sales, undoubtedly suggest an increase in interest in the 7-day time frame. However, these numbers are significantly below the NFTs market performance shown in the 30-day metric.<\/p>\n
Related Reading: How To Create And Mint Your Own NFTs On The Ethereum Network<\/a><\/div>\n
\"ARB,<\/p>\n
ARB is trading at $1.82 in the 1-day chart. Source: ARBUSDT on TradingView.com<\/pre>\n
Featured image from Unsplash.com, Chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Arbitrum (ARB), the Ethereum Layer 2 scaling solution, has been facing a bearish week after failing to establish a new price floor and falling below the $2 level. Additionally, the unlocking event scheduled for March could negatively impact the token\u2019s price. Despite ARB\u2019s recent drop, the blockchain has seen a greater performance in the non-fungible token (NFT) market, surpassing Ethereum and Solana. Related Reading: Arbitrum (ARB) Faces Potential Selling Pressure As 1 Billion Tokens Become Unlocked In March Arbitrum: Top Gainer In The Last Day Data from Crypto Slam shows that the daily NFT sales volume in the Arbitrum blockchain recovered in the last 24 hours. The blockchain is the fourth largest by total NFT volume sales, showing a recent performance larger than Ethereum or Solana. Top ten blockchains by NFT sales volume in the last 24 hours. Source: Crypto Slam The chart above shows that Arbitrum is the top gainer after seeing a 119.41% surge in sales volume, over $1.26 million, during the last 24 hours. The blockchain also registered an 8.09% increase in wash sales from the day prior. Despite the rise, it only accounts for 0.11%, or $1,489, of the total sales volume. Wash trading is a practice used to inflate an asset\u2019s value artificially. As a form of market manipulation, the trader buys and sells the same asset, usually through a third party, to create the impression of a higher market activity of said asset. Wash sales in the NFT market can happen through a single seller creating multiple accounts to trade the NFT or two sellers scheming to buy and sell each other\u2019s digital assets. The Arbitrum blockchain had 8,094 transactions during the last day, which accounts for a 9.04% increase. Its demand and offer of NFTs also rose by approximately 10%, with 3,557 buyers and 1,904 sellers in the previous 24 hours. Solana and Ethereum saw a milder increase in their daily volume sales, with 26.69% and 5.42% respectively. Solana had a total sales volume of $10.9 million, divided by $9.17 million in authentic sales and $1.77 million in wash sales, which is 16.21% of the total volume and a 9.37% surge from the day prior. Despite the sales volume being worth almost eleven million dollars, the demand and offer saw a significant 21.21% transaction drop and a 15.6% buyer decrease on the last day. On the other hand, the NFT sales in the Ethereum blockchain saw a 2.9% drop in its total daily sales volume. Similarly, the number of transactions faced a slight 3.79% decline, with 23,931 transactions. However, it\u2019s worth noting that wash sales in the Ethereum blockchain saw a significant 19.33% decrease, with $7.14 million in the last 24 hours. Is An NFT Resurgence In The Horizon? The daily sales volume suggests a recent interest in some of the NFTs offered in the Arbitrum and other top blockchains. However, said interest could be a momentary thing in this ever-changing market. To paint a bigger picture, let\u2019s look at what the 7-day time frame data suggests. As seen in the chart below, five of the top ten blockchains by NFT sales volume have increased in this timeframe. Arbitrum, Bitcoin, and BNB Chain are among the top gainers in the last week. Top ten blockchains by NFT sales volume in the last 7 days. Source: Crypto Slam Arbitrum remains the biggest winner with its massive 373.18% surge. The number of buyers and sellers also increased exponentially, with a 69% surge (approximately 35,000 buyers) and a 56% increase (27,000 sellers) in the past week. Ethereum takes the first spot as the blockchain with the largest NFT sales volume of $202.5 million. However, Solana remains the winner in the transaction and the user\u2019s metric. The blockchain saw 860,714 transactions in the past week, with over 242,041 buyers and 144,395 sellers. Besides the sales volume, the transactions and buyer\/seller numbers shone some light on the NFT market in the past week. These numbers, green in the top ten blockchains by NFT sales, undoubtedly suggest an increase in interest in the 7-day time frame. However, these numbers are significantly below the NFTs market performance shown in the 30-day metric. Related Reading: How To Create And Mint Your Own NFTs On The Ethereum Network ARB is trading at $1.82 in the 1-day chart. Source: ARBUSDT on TradingView.com Featured image from Unsplash.com, Chart from Tradingview.com<\/p>\n","protected":false},"author":614,"featured_media":576969,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[88023,88119,88136,88077,8556,15369,86159,84595],"class_list":["post-576961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","tag-arb","tag-arbitrum-arb","tag-arbitrum-blockchain","tag-arbusdt","tag-ethereum-blockchain","tag-nft","tag-nft-sales","tag-solana-blockchain"],"acf":[],"yoast_head":"\nArbitrum Beats ETH and Solana With 119% Surge In NFT Sales<\/title>\n<meta name=\"description\" content=\"Arbitrum became the top gainer with its 119% surge in daily volume sales, surpassing Ethereum and Solana in the NFT market.\" \/>\n<meta name=\"robots\" content=\"index, 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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