NFT Market Records $158 Million in Weekly Sales Volume, With Ethereum and Solana Leading Key MetricsNon-fungible tokens (NFTs) continue to exhibit robust performance, maintaining a notable weekly sales volume despite experiencing a modest decline compared to the previous week’s significant surge.
According to CryptoSlam data on November 24, digital collectibles achieved an impressive sales volume of approximately $158 million over the past seven days. Although this marks a 12.7% decrease from the previous week’s $181 million in sales, the current figures remain substantially higher than early November levels, when NFTs recorded a mere $93 million in sales from November 4–10. Ethereum Dominates Sales Volume; Solana Leads in Buyer Activity
Ethereum solidified its position as the leading blockchain for weekly NFT sales volume, recording $49 million in transactions. However, this represents a 25.9% decline from the prior week. Bitcoin ranked second with $43 million in weekly sales, reflecting a sharper 29% drop. Solana, maintaining its third-place position, generated $23.9 million in NFT sales, experiencing only a 9% decrease. Other notable blockchain networks, including Polygon, Mythos Chain, Immutable, and BNB Chain, collectively amassed $35.8 million in sales volume during the same period. While Ethereum led in sales volume, Solana emerged as the top blockchain by the number of NFT buyers. CryptoSlam reported over 185,000 NFT buyers on the Solana network for the week—a significant 58% increase from the previous week’s 117,000. This surge underscores Solana’s growing appeal among collectors. The average transaction value across all networks experienced a slight dip, decreasing from $133.08 to $126.17, reflecting broader market trends.
NFTs Maintain Monthly Momentum, Building on October’s RecoveryNFTs are poised to close November on a strong note, continuing the momentum gained in October. During the previous month, the NFT market recorded $356 million in sales, representing an 18% increase over September and marking a significant recovery after a seven-month decline in activity. The latest weekly figures suggest sustained interest in NFTs despite short-term fluctuations. Ethereum’s dominance in sales, coupled with the sharp rise in Solana’s buyer activity, highlights the diverse dynamics shaping the digital collectibles landscape. This upward trajectory affirms the growing resilience of the NFT market, with leading blockchains showcasing their unique strengths.
As November progresses, the market’s ability to sustain high sales volumes underscores its enduring appeal among collectors and investors alike.
