The NFT market recorded a sharp weekly rebound, with total sales climbing 66.58% to $76.56 million through October 24. Bitcoin emerged as the leading blockchain, while the $X@AGI BRC-20 collection captured a significant share of trading value through a small number of exceptionally large transactions.
Market participation also expanded during the period. Buyer addresses increased 46.38% to 156,715, seller addresses rose 53.09% to 135,930, and transaction activity climbed 35.05% to 764,169. The combination of higher sales and broader participation points to renewed activity, although the concentration of value in a few major trades warrants caution.
Bitcoin generated $31.07 million in NFT sales, surging 268.06% from the previous seven-day period. Its share reached approximately 40.6% of the global total, putting it ahead of Ethereum by around $6.43 million. Bitcoin buyer addresses increased 86.79% to 8,581, indicating a substantial rise in recorded participation alongside the jump in volume.
Ethereum ranked second with $24.64 million in sales, up 32.59%. Buyer addresses climbed 67.63% to 25,749, supporting the view that activity strengthened across both leading networks. Together, Bitcoin and Ethereum accounted for nearly 73% of all NFT sales during the week.
The remaining networks delivered mixed results. Polygon recorded $8.53 million, up 2.82%, while BNB Chain declined 18.96% to $3.35 million. Immutable sales fell 16.67% to $2.30 million. Arbitrum posted one of the strongest percentage increases, rising to $2.00 million, while Base reached $1.95 million and Solana recorded $1.40 million.
Polygon's reported wash-trading volume stood at approximately $19.40 million, substantially exceeding its recorded sales. This distinction matters because potentially artificial trading activity does not necessarily reflect genuine buyer demand or sustainable liquidity. High transaction or volume figures should therefore be assessed alongside the quality and distribution of market activity.
The $X@AGI BRC-20 collection was the standout performer, generating $25.09 million from just three transactions involving three buyer addresses and three seller addresses. That amounted to approximately 32.8% of total NFT sales and 80.8% of Bitcoin's weekly volume.
The collection's performance illustrates how a small number of high-value transactions can reshape market rankings. While the sales total is substantial, the limited number of transactions makes it difficult to determine whether the result reflects broad demand or concentrated trading between a small group of participants.
Courtyard ranked second among collections with $7.77 million in sales on Polygon. Its transaction count increased 8.44% to 141,478, even as buyer addresses fell 3.35% to 18,816 and seller addresses declined 4.36% to 15,154. The collection accounted for approximately 18.5% of all recorded NFT transactions, demonstrating a very different activity pattern from the high-value, low-frequency trading seen in $X@AGI.
Ethereum's Slipstream V3 Deposit collection followed with $7.58 million. Bored Ape Yacht Club recorded $3.56 million, gaining 192.02%, while an Arbitrum-based Slipstream V3 Deposit collection reached $1.89 million. Other notable performers included a Bitcoin BRC-20 collection at $1.87 million, CryptoPunks at $1.64 million, and Credits at $1.47 million.
Bitcoin also dominated the largest individual NFT sales. Four of the five highest-value transactions involved $X@AGI BRC-20 NFTs on Bitcoin. The largest was valued at approximately $14.63 million, followed by a transaction worth $9.57 million. Bored Ape Yacht Club #9500 was the only Ethereum-based NFT in the top five, with a reported sale value of approximately $2.40 million.
These large transactions help explain Bitcoin's rapid rise in weekly NFT volume, but they also highlight the importance of looking beyond headline totals. A market supported by a handful of expensive sales can experience dramatic short-term growth without a comparable improvement in liquidity or sustained demand across the wider ecosystem.
Broader cryptocurrency market conditions provide additional context. Bitcoin traded near $80,549 and Ethereum around $2,364 during the October 24 reporting period, while total cryptocurrency market capitalization stood at approximately $2.77 trillion. These figures offer a snapshot of the surrounding market environment but do not, by themselves, establish the cause of the NFT sales increase.
Overall, the latest figures show a strong rebound in NFT trading, led by Bitcoin and concentrated in a small number of high-value $X@AGI transactions. The key test will be whether sales remain elevated in the coming weeks, with growth spread across more collections and participants. Sustained activity and a healthier distribution of transaction value would provide stronger evidence of a durable market recovery than a single week of unusually large trades.
AKE
