Originally published on: November 24, 2024
The NFT market continues to thrive, recording a weekly sales volume of $158 million despite a slight decrease from the previous week. According to CryptoSlam data on Nov. 24, digital collectibles remain popular, showcasing a solid performance in the past seven days. This figure represents a 12.7% drop from the previous week, where sales reached $181 million.
While there was a slight slowdown, the sales volume for NFTs is still significantly higher than earlier in November. In the first week of November, NFTs only saw a sales volume of $93 million, making this recent figure a sign of continued interest and growth in the space.
Ethereum remains the top player in weekly NFT sales, clocking in at $49 million despite a 25.9% decrease from the prior week. Bitcoin follows closely with $43 million in sales, down by 29%.
Solana retains its position as the third-highest network for digital collectible sales, with $23.9 million in sales volume. Additionally, other networks such as Polygon, Mythos Chain, Immutable, and BNB Chain collectively contributed $35.8 million to the total sales volume for the week.
Solana saw an impressive increase in the number of NFT buyers, with over 185,000 participants in the past week, a 58% jump from the previous period. The average transaction value across all networks slightly decreased from $133.08 to $126.17.
As NFTs are poised to finish November on a high note, the recent weekly sales figures indicate sustained interest in digital collectibles. The market dynamics, with Solana’s rising buyer activity and Ethereum’s dominance, showcase the evolving landscape of NFTs and blockchain technology.
Following a successful October where NFT sales hit $356 million, marking an 18% increase from September, the market continues to demonstrate resilience and growth amid fluctuations. This positive trend follows a seven-month downward trend in NFT sales, signaling a renewed momentum in the space.
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