Ethereum

Solana

Bitcoin

<ul>
 <li><em>The total transaction count surged by 20.69% in just 30 days</em></li>
 <li><i>Traders made $14.19 million in profits over the past month, the highest since May 2022</i></li>
</ul>
<p>Encouraging signals emerged from the <a href="https://eng.ambcrypto.com/search/nft" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">non-fungible token [NFT]</a> market recently, raising hopes that the once-famous Web3 vertical would mimic cryptos’ growth trajectory and usher in a bull market.</p>
<h3 id="nft-winter-thawing">NFT winter thawing?</h3>
<p>AMBCrypto accessed <a href="https://www.cryptoslam.io/nftglobal?timeFrame=week&amp;headerPeriod=30d" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Cryptoslam’s</a> data and discovered sales worth more than a billion over the past month, marking a whopping 92.11% growth.</p>
<p>Moreover, the total transaction count surged by 20.69% to 8.1 million in the last 30 days. In fact, the last three days saw higher sales than any other three-day stretch since August.</p>
<div id="attachment_358282" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/NFT-sales.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-358282" decoding="async" class="wp-image-358282 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/NFT-sales.jpg" alt="" width="1301" height="406" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/NFT-sales.jpg 1301w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/NFT-sales-300x94.jpg 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/NFT-sales-1024x320.jpg 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/NFT-sales-768x240.jpg 768w" sizes="(max-width: 1301px) 100vw, 1301px"></a>
 <p id="caption-attachment-358282" class="wp-caption-text">Source: Cryptoslam</p>
</div>
<p>Additionally, over the past month and a half, the number of unique buyers has continuously outnumbered the number of unique sellers. This highlighted improving demand for this set of Web3 products.</p>
<h3 id="traders-realizing-higher-profits">Traders realizing higher profits</h3>
<p>A possible explanation behind the spike in interest were the gains being realized with each transaction. NFT traders walked away with $14.19 million in profits over the past month, the highest since May 2022. The prospect of such gains prompted many traders to invest their capital in the NFT market.</p>
<p>The uptick in trading activity came as a ray of sunshine after a long and bitter NFT winter. As can be seen, NFT sales have been declining since hitting a high of $1.2 billion in February. The drop accelerated in the second and third quarters. In fact, sales were just $300 million in September, the lowest since the NFT bull market of 2021 and early 2022.</p>
<h3 id="bitcoin-solana-lift-the-nft-sector">Bitcoin, Solana lift the NFT sector</h3>
<p>Perhaps the growth drivers were <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a> and <a href="https://ambcrypto.com/search/SOLANA" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Solana [SOL]</a>, with both recording a fourfold increase in their sales over the last month. In fact, at press time, BTC was the network with the highest NFT sales volume, followed by traditional leader <a href="https://ambcrypto.com/search/ethereum" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Ethereum [ETH]</a> and Solana in third place.</p>
<div id="attachment_358299" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-NFT.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-358299" decoding="async" class="wp-image-358299 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-NFT.jpg" alt="" width="1304" height="387" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-NFT.jpg 1304w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-NFT-300x89.jpg 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-NFT-1024x304.jpg 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-NFT-768x228.jpg 768w" sizes="(max-width: 1304px) 100vw, 1304px"></a>
 <p id="caption-attachment-358299" class="wp-caption-text">Source: CryptoSlam/ Bitcoin NFTs</p>
</div>
<p>The 24-hour leaderboard was dominated by collections from the aforementioned networks. While the BRC-20 NFTs grabbed the first two spots, <a href="https://ambcrypto.com/mad-lads-comes-to-the-rescue-of-solanas-ailing-nft-landscape-details-inside/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Mad Lads</a> played a key role in boosting Solana’s NFT market.</p>
<p>Mad Lads, a collection of 10,000 unique profile picture (PFP) NFTs, exploded by 509% in the past month. It’d be safe to assume that Mad Lads served to mitigate the effects of the departure of y00ts and DeGods, two of Solana’s most popular collections previously.</p>

Identifying whether the NFT winter is finally giving way

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