Originally published on: November 24, 2024
The vibrant world of Non-Fungible Tokens (NFTs) continues to make waves as it hits a new milestone in weekly sales volume. Despite a slight dip from the previous week, the latest data from NFT data tracker CryptoSlam reveals a staggering $158 million in sales over the past seven days.
This figure marks a 12.7% decrease from the previous week’s record-breaking $181 million in sales. However, it still surpasses the levels seen earlier in November when NFTs tallied a weekly sales volume of a mere $93 million.
Ethereum remains at the forefront of the NFT market, leading the charge with $49 million in sales despite a 25.9% drop from the previous week. Bitcoin closely follows with $43 million in sales, down by 29%.
The Solana network secures its spot as the third-highest in sales volume, with $23.9 million in weekly sales, a 9% decrease from the previous week. Additionally, Polygon, Mythos Chain, Immutable, and BNB Chain collectively contributed $35.8 million to the weekly sales volume.
Solana emerges as the leader in the number of NFT buyers, with over 185,000 buyers in a week, marking a significant 58% increase from the previous week.
Despite a slight dip in the average transaction value across all networks, from $133.08 to $126.17, the sustained interest in NFTs suggests a bullish market outlook for the digital collectibles space.
With NFTs gaining momentum, the market is set to close November on a high note following October’s impressive performance, which saw a notable 18% increase in sales volume from September.
The dynamic landscape of NFTs continues to captivate buyers and sellers alike, with Ethereum’s dominance and Solana’s rising popularity showcasing the diverse opportunities available in the digital collectibles market.
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