Ethereum and Bitcoin drive NFT sales to $158m weekly volume record
Ethereum and Bitcoin drive NFT sales to $158m weekly volume record
The non-fungible token (NFT) market continues its robust momentum in November, recording $158 million in sales volume for the week ending November 24, according to CryptoSlam. While this marks a 12.7% decline from the previous week’s $181 million, the figures remain well above the $93 million recorded in early November, showcasing a 69% monthly increase.
Ethereum retained its dominance in weekly NFT sales, generating $49 million in revenue despite a 25.9% week-over-week drop. Bitcoin followed with $43 million in sales, representing a 29% decline. Solana, the third-largest blockchain for digital collectibles, recorded $23.9 million in sales, down 9% from the prior week. Meanwhile, networks like Polygon, Mythos Chain, Immutable, and BNB Chain collectively contributed $35.8 million in sales volume.
Solana shines in buyer activity
Solana distinguished itself as the leading blockchain in terms of NFT buyer activity, registering over 185,000 buyers—a 58% increase compared to the previous week’s 117,000. This contrasts with Ethereum’s higher transaction value but smaller user base. Average transaction values across all platforms saw a slight dip, falling from $133.08 to $126.17.
The rise in Solana’s buyer activity underscores its growing appeal among collectors, even as Ethereum continues to dominate in overall sales volume.
The NFT market appears poised to end November on a high note, building on October’s $356 million total sales volume, which marked an 18% increase from September. October’s performance broke a seven-month decline in NFT sales, suggesting renewed interest in digital collectibles.
As the year concludes, the dynamics between leading blockchains like Ethereum and Solana will remain a focal point for the market, particularly with the growth in unique buyers and the evolving competitive landscape.
Last week, NFT sales were higher at $179 million.
