NFT Sales Soar to $181M as Crypto Market Gains Momentum

NFT sales have seen a remarkable surge, with weekly volumes hitting $181 million, thanks to renewed bullish momentum in the cryptocurrency market.

According to recent data, this marks a 94% jump from the previous week, when total NFT sales stood at $93 million.

Ethereum led the charge, driving $67 million in sales—an impressive 111% increase compared to the prior week. Bitcoin wasn’t far behind, generating $60 million in NFT transactions, reflecting a 115% rise. Meanwhile, other blockchains, including Solana, Mythos Chain, Immutable, Polygon, and BNB Chain, collectively contributed $45.5 million to the week’s total.

The average value of NFT transactions also saw significant growth, climbing to $133.08, up 87% from the previous week’s $71.11. This resurgence comes at a time when the NFT market is breaking out of a prolonged slump. October sales hit $356 million, an 18% increase from September, which marked a record low. October also saw a 42% spike in transaction counts, with 7.2 million recorded deals.

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The NFT rally coincides with a broader crypto market upswing. Following the U.S. elections, digital assets have gained significant momentum, with Bitcoin setting a new all-time high of $93,477 on Nov. 13. The strong market activity appears to have reinvigorated investor interest in NFTs, pushing the digital collectibles space back into the spotlight.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.