November NFT Sales Surge Past October, Continuing Strong Market Momentum
The NFT market has sustained its bullish trajectory in November, building on October’s rebound and signaling renewed interest in digital collectibles. While weekly sales dipped slightly compared to the prior week, overall volumes remain robust, reflecting strong market demand.
Weekly Sales Hold Strong Despite Decline
Data from CryptoSlam on Nov. 24 reveals that NFTs recorded approximately $158 million in sales volume over the past seven days. While this marks a 12.7% drop from the previous week’s impressive $181 million, it significantly outpaces the $93 million sales volume recorded during the first week of November (Nov. 4–10).
This performance underscores the continued recovery of the NFT market, with consistent sales momentum even amidst slight fluctuations.
Blockchain Highlights: Ethereum Dominates Sales, Solana Leads Buyers
- Ethereum remains the leader in weekly NFT sales volume, recording $49 million in sales. However, this represents a 25.9% decline from the previous week.
- Bitcoin ranked second with $43 million in sales, experiencing a 29% dip.
- Solana held its position as the third-largest blockchain for NFT sales, with $23.9 million, reflecting a modest 9% decline from the prior week.
Despite Ethereum’s dominance in sales volume, Solana emerged as the leader in buyer activity, attracting over 185,000 unique NFT buyers during the week—a 58% jump compared to the previous week’s 117,000 buyers.
Other notable blockchain networks, including Polygon, Mythos Chain, Immutable, and BNB Chain, collectively contributed $35.8 million in weekly NFT sales, maintaining their share of the market.
The average transaction value across all chains saw a slight decline, dropping from $133.08 to $126.17.
Monthly Sales Volumes: November on Track for Continued Growth
November’s performance builds on the strong momentum from October, when NFT sales hit $356 million, an 18% increase over September. Weekly sales data suggest that November is on course to surpass October, continuing the upward trend and signaling sustained interest in the NFT space.
Key trends include:
- Ethereum’s sustained dominance in sales volume, cementing its role as a preferred blockchain for high-value NFT transactions.
- Solana’s growing buyer base, reflecting increasing accessibility and appeal among retail NFT enthusiasts.
Market Outlook
The NFT market appears to have entered a recovery phase, with November building on October’s resurgence and ending a seven-month downturn. The increase in buyer activity, particularly on Solana, coupled with Ethereum’s steady dominance, highlights a dynamic and evolving ecosystem for digital collectibles.
As the market continues to mature, the sustained sales momentum across multiple blockchains underscores the resilience of NFTs as a key pillar in the broader Web3 landscape.
