Authored by Ezra Reguerra via CoinTelegraph.com,
Non-fungible tokens (NFTs) have continued their strong sales performance, increasing by 57.8% in November as the digital collectibles market shows signs of recovery.
According to data from CryptoSlam on Dec. 1, NFT sales in November reached $562 million, marking a significant increase from the previous month. This makes it the highest monthly sales volume since May, when the market saw $599 million in sales.
NFT sales volume from May to December 2024. Source: CryptoSlam
Despite this surge, NFT sales volumes are still below their peak in 2024. The market hit a high of $1.6 billion in March but experienced a seven-month decline until reaching its lowest point since 2021.
CryptoPunks Floor Price Soars by 52%
Alongside the overall market growth, the popular CryptoPunks NFT collection also saw impressive gains in November. DefiLlama reported that the floor price of CryptoPunks rose from 26.3 Ether (ETH) to 39.7 ETH by the end of November.
CryptoPunks floor price data from September to November. Source: DefiLlama
CryptoSlam data also revealed that CryptoPunks had a 30-day sales volume of over $49 million, a 392% increase compared to the previous month, with 388 sales transactions recorded.
Additionally, the Pudgy Penguins collection experienced a surge in sales volume, reaching $16 million in November.
DefiLlama data showed that the floor price of Pudgy Penguins rose from 8.7 ETH to 13 ETH over the month.
Ethereum and Bitcoin Lead NFT Resurgence
The Ethereum network led in sales volume with over $216 million, a 12% increase from October.
Bitcoin saw the highest percentage increase among top blockchains for NFTs, with a 99.44% surge to $186 million in sales volume. Other blockchains like Solana, Mythos Chain, Immutable, Polygon, and BNB Chain collectively recorded $162.9 million in NFT sales for November.
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