NFTs record $158M weekly sales volume, led by Ethereum, Bitcoin

2024-11-26 11:44:47 Primitive Reading

From cointelegraph by Ezra Reguerra

Non-fungible tokens (NFTs) maintained a solid weekly sales volume despite a slight decline compared with the previous week’s surge.

On Nov. 24, NFT data tracker CryptoSlam showed that digital collectibles had a strong week, recording a sales volume of about $158 million over the previous seven days. The data shows a 12.7% decrease compared with the previous week when digital collectibles recorded $181 million in sales volume.

Despite the slowdown, the weekly volume was still well above its levels in early November. From Nov. 4–10, NFTs had a weekly sales volume of only $93 million.

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 from the preceding 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 from the previous week. Meanwhile, Polygon, Mythos Chain, Immutable and BNB Chain collectively recorded $35.8 million in 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 58% increase from the previous week’s 117,000.

The average transaction value across all networks dipped slightly, from $133.08 to $126.17.

Related: FIFA, Mythical Games collaborate to launch blockchain game FIFA Rivals

Monthly sales volumes continue their momentum

NFTs are on track to close November with strong momentum.

In October, NFTs recorded $356 million in sales volume, an 18% increase over 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 strong performance, which ended a seven-month downward trend for NFT sales.

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