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November has already surpassed October’s total volume, continuing strong market momentum for NFTs.
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Non-fungible tokens (NFTs) maintained a relatively strong weekly sales volume despite a slight decline compared to last week’s surge.
On Nov. 24, NFT data tracker CryptoSlam showed that digital collectibles had a solid week, recording a sales volume of about $158 million over the last seven days. The data shows a 12.7% decrease compared to the week before when digital collectibles recorded $181 million in weekly sales volume.
Despite the slowdown, the weekly volume is still well above its record at the start of November. From Nov. 4–10, NFTs had a weekly sales volume of only $93 million, reflecting a 69% increase from earlier in the month.
Ethereum leads in sales volume, while Solana leads in buyers
Ethereum maintained its lead for weekly NFT sales volume. The network recorded $49 million in sales, a 25.9% drop compared to last week. Bitcoin ranked second, with $43 million in sales, down 29%.
Leading networks by sales volume in the last week. Source: CryptoSlam
The Solana network maintained its ranking as the third highest in sales volume for digital collectibles. The network recorded $23.9 million in weekly sales, a 9% drop compared to the previous week. Meanwhile, Polygon, Mythos Chain, Immutable and BNB Chain collectively recorded a $35.8 million sales volume for the week.
Solana led all blockchains in the number of NFT buyers. CryptoSlam data showed that Solana had over 185,000 NFT buyers for the week, a 57.99% increase from last week’s 117,000.
The average transaction value across all networks dipped slightly, from $133.08 to $126.17.
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Monthly sales volumes continue their momentum
NFTs are on track to close November with strong momentum.
In October, NFTs recorded a $356 million sales volume, an 18% increase compared to September.
The current weekly sales figures suggest sustained interest in NFTs despite market fluctuations. The rise in Solana’s buyer activity and Ethereum’s dominance in sales volume highlight varying dynamics among leading blockchains in the digital collectibles space.
This positive trajectory follows October’s record-breaking performance, which ended a seven-month downward trend for NFT sales.
Magazine: NFTs are like nightclubs, crypto is a volatile religion: NFTStats, NFT Collector
This article first appeared at Cointelegraph.com News
