NFTs See $158M Weekly Sales Volume Driven by Ethereum and Bitcoin
NFTs had a solid week in terms of sales volume, with digital collectibles raking in about $158 million over the last seven days, according to data from CryptoSlam. This represents a slight decrease of 12.7% compared to the previous week when sales hit $181 million. But don’t fret – this drop still leaves us way above the numbers we saw at the beginning of November when weekly sales were only $93 million.
Ethereum remains at the forefront of NFT sales volume, bringing in $49 million, even though this is a 25.9% drop from the week before. Following Ethereum, we have Bitcoin with $43 million in sales. Solana holds its position as the third-highest network in terms of sales volume, with $23.9 million for the week. Additionally, we see other networks like Polygon, Mythos Chain, Immutable, and BNB Chain collectively bringing in $35.8 million in sales.
Solana takes the lead when it comes to the number of NFT buyers, with over 185,000 buyers in a week. This marks a significant 57.99% increase from the previous week’s 117,000 buyers. Although the average transaction value across all networks slightly dipped from $133.08 to $126.17, the overall trend seems to be positive.
Looking at the bigger picture, NFTs are showing no signs of slowing down as we close in on the end of November with strong momentum. In October, NFTs reached a sales volume of $356 million, an 18% increase compared to September. Despite market fluctuations, the current weekly sales numbers suggest a sustained interest in NFTs.
With Solana’s rising buyer activity and Ethereum’s consistent lead in sales volume, it’s clear that different blockchains have varying dynamics in the digital collectibles space. This positive trend comes after October’s record-breaking performance, marking the end of a seven-month downward trend in NFT sales. Exciting times ahead for NFT enthusiasts!
