Originally published on: November 24, 2024
The world of non-fungible tokens (NFTs) continues to shine brightly, with a weekly sales volume hitting an impressive $158 million, led by Ethereum and Bitcoin.
Despite a slight dip compared to the previous week, a recent report from NFT data tracker CryptoSlam revealed that digital collectibles maintained a robust sales performance. The $158 million in sales marked a 12.7% decrease from the previous week’s surge of $181 million.
However, the current figures are still significantly higher than early November’s levels when NFTs only generated $93 million in weekly sales volume.
Ethereum remains in the top spot for weekly NFT sales, with a total of $49 million, though this marks a 25.9% drop from the week before. Meanwhile, Bitcoin came in second with $43 million in sales, down by 29%.
The Solana network held its ground as the third highest in sales volume for digital collectibles, raking in $23.9 million over the week, even with a 9% drop compared to the previous week. Additionally, Polygon, Mythos Chain, Immutable, and BNB Chain collectively contributed $35.8 million to the total sales volume.
Solana notably led all blockchains in the number of NFT buyers, with over 185,000 buyers reported for the week, reflecting a 58% increase from the previous week’s 117,000.
Despite a slight decrease in the average transaction value across all networks, from $133.08 to $126.17, the NFT market shows no signs of slowing down.
With NFTs gearing up for a strong finish in November, following a standout performance in October where sales volume reached $356 million, up by 18% from September, it’s clear that the interest in digital collectibles remains steady.
The positive momentum in NFT sales, highlighted by the rise in buyer activity on Solana and Ethereum’s dominance, signifies the dynamic nature of the blockchain space.
As the market continues to evolve and thrive, it’s evident that NFTs are here to stay, offering exciting opportunities for artists, collectors, and investors alike.