NFT sales have surged over the past week, despite a downturn in the broader crypto market, indicating a strong interest in digital assets. The NFT market saw sales climb to $109 million, an 8.1% increase, with the number of buyers and sellers increasing by 20.93% and 14.05% respectively. The total number of transactions rose by 45.57% to 2,042,431.

Top performers in the NFT market included Cryptopunk #2, which fetched $386,916, and Solana’s Boogle #089, which sold for $191,517. Ethereum-based NFTs dominated the market with $36.48 million in sales, a 14.04% increase from the previous week, followed by Solana with $22.46 million in sales, reflecting a 39.03% growth.

Despite the success of the NFT market, memecoins have gained significant traction, driven by celebrity endorsements. However, Ethereum’s founder, Vitalik Buterin, criticizes this trend, suggesting memecoins need a purpose beyond hype to survive long-term. Despite the popularity of memecoins, NFTs continue to demonstrate their value and utility in the digital space.