Non-Fungible Tokens (NFTs) Maintain Strong Weekly Sales Volume Despite Minor Decrease

According to NFT data tracker CryptoSlam, digital collectibles had a stellar week, with sales of almost $158 million recorded for the preceding seven days

Non-fungible tokens (NFTs) had a strong week of sales despite a minor decrease compared to the previous week’s rise.

Digital collectibles had a stellar week, with sales of almost $158 million recorded for the preceding seven days, data from NFT tracker CryptoSlam showed on November 24. For the week before, sales hit $181 million, indicating a decrease of 12.7%, the data showed.

The weekly volume was still significantly higher, even if it was slower than in early November. From November 4 to November 10, weekly sales of NFTs amounted to $93 million.

Ethereum Led Sales, Solana Led Buyers

Ethereum remained ahead in terms of weekly NFT sales volume. The network’s sales dropped 25.9% from the previous week, reaching $49 million. Bitcoin came in second with $43 million, a 29% decrease in sales.

Among digital collectible networks, the Solana network remained third in terms of sales volume. The network’s weekly sales dropped 9% to $23.9 million. Meanwhile, Polygon, Mythos Chain, Immutable, and BNB Chain had a combined sales volume of $35.8 million for the week.

In terms of total NFT purchasers, Solana led all other blockchains. Solana had a 58% surge in NFT purchasers for the week, reaching over 185,000 from 117,000 the week before, data from CryptoSlam showed. The average value of all networks’ transactions fell a bit, from $133.08 to $126.17.

Strong Momentum Drives Monthly Sales Volumes

NFTs are set to have a strong end to November. October saw sales of NFTs reach $356 million, an 18% increase compared to September.

The sales for the past week indicate that NFTs continue to attract attention despite the volatility in the market. The digital collectibles space sees variation at the top blockchains, as highlighted by the increase in Solana buyers and Ethereum’s dominance in sales volume.

This upward trend comes after October’s stellar performance, which reversed a seven-month declining trend in NFT sales.