NFT Market Sees Mild Rebound as Bitcoin Surges Past $105K, Immutable and Polygon Activity Soar

Published: 2025-06-08 09:31:56 |

The NFT market witnessed a moderate rebound this week, driven in part by Bitcoin (BTC) surging above $105,000. According to CryptoSlam, overall NFT trading volume increased by 1.95% to $106.2 million. NFT buyer numbers climbed sharply by 55.08% to 826,992, and seller participation rose 18.12% to 257,017. However, total NFT transactions dropped nearly 25%, signaling mixed activity. Ethereum (ETH) remained the leading blockchain for NFT trading volume with $30.3 million, despite a 15.57% week-on-week decline and a notable 11.33% increase in wash trading. Immutable gained momentum, jumping 123.21% in volume to $16.4 million, while Bitcoin NFTs posted a 17.81% rise to $15.1 million. Polygon experienced a 54.25% surge in buyers, although its volume slid 7.72% to $13.9 million. Mythos Chain and Solana (SOL) also featured, with $14 million (+3.26%) and $6.1 million (–13.31%) in weekly volume, respectively. The top NFT collections included Courtyard (Polygon) and Guild of Guardians Heroes, with notable high-value sales among CryptoPunks NFTs, the highest fetching roughly $389,846. While key metrics like active buyers and Bitcoin’s momentum suggest the NFT space could be entering a recovery phase, ongoing drops in transaction count and the prevalence of wash trading point to continued volatility. Traders should monitor evolving trends across major blockchains—particularly BTC, ETH, Immutable, Polygon, SOL, and Mythos—for fluctuating opportunities and risk.

Neutral

The NFT market’s slight recovery, marked by an increase in trading volume and buyer participation, coincides with Bitcoin’s price surge. However, despite these positive signals, the overall drop in total NFT transactions and persistent volatility, as evidenced by declines in leading blockchains like Ethereum and Polygon and the rise in wash trading, suggest that the market has not entered a clear bullish phase. The developments indicate cautious optimism rather than strong upward momentum. Traders should recognize the mixed signals—growing buyer interest, yet inconsistent transaction volumes and suspect trading behaviors. Historically, such market rebounds have not always resulted in sustained price rallies across NFTs or their associated cryptocurrencies. Therefore, the immediate price impact on the broader crypto market can best be characterized as neutral.