November’s NFT sales outpace October, keeping market momentum strong, with weekly NFT sales staying high despite a slight dip from last week.
Despite a minor drop from last week’s spike, non-fungible tokens (NFTs) continued to have a comparatively high weekly sales volume.
Digital collectibles had a strong week, with sales of over $158 million over the previous seven days, according to NFT data tracker CryptoSlam, which was released on Nov. 24.
The report indicates a 12.7% drop from the last week when weekly sales of digital collectibles totaled $181 million.
Even with the dip, the weekly volume is still significantly higher than its record at the beginning of November.
NFTs’ weekly sales volume from November 4–10 was a mere $93 million, a 69% increase over the previous week.
Solana Leads In Purchasers, But Ethereum Leads In Sales Volume
In terms of weekly NFT sales volume, Ethereum remained in the lead.
Sales for the network came to $49 million, a 25.9% decrease from the previous week.
With $43 million in sales, Bitcoin came in second, down 29%.
Regarding digital collectibles sales volume, the Solana network continued to hold its third-place position.
Weekly sales for the network came to $23.9 million, a 9% decrease from the week before.
The combined sales volume for the week was $35.8 million for Polygon, Mythos Chain, Immutable, and BNB Chain.
Solana had more NFT buyers than any other blockchain. According to data from CryptoSlam, Solana had more than 185,000 NFT purchasers for the week, up 57.99% from the 117,000 buyers the previous week.
From $133.08 to $126.17, the average transaction value decreased somewhat across all networks.
Monthly NFT Sales Volumes Are Still Increasing
With great momentum, NFTs are expected to end in November.
Compared to September, NFTs’ sales volume in October increased by 18% to $356 million.
Despite market swings, the latest weekly sales numbers indicate that NFTs continue to be of interest.
Different dynamics among the top blockchains in the digital collectibles field are highlighted by the increase in Solana’s buyer activity and Ethereum’s dominance in sales volume.
This upward trajectory comes after NFT sales stopped a seven-month decline in October with a record-breaking performance.