- Weekly NFT sales reached $181 million, a 94% increase, led by Ethereum and Bitcoin blockchains.
- The average value of NFT sales rose 87%, reflecting renewed investor interest and market recovery.
- October marked a break in the NFT market’s seven-month decline, with sales volume up 18%.
Non-fungible token (NFT) sales recorded a notable increase over the past week, reaching a total of $181 million. According to data from CryptoSlam on Nov. 17, this marks a 94% jump compared to the previous week’s $93 million.
Ethereum led the surge with $67 million in sales, reflecting a 111% increase, while Bitcoin-based NFTs accounted for $60 million, up 115%. Other networks, including Solana, Mythos Chain, Immutable, Polygon, and BNB Chain, collectively contributed $45.5 million.
Average NFT Sale Value Sees Significant Growth
In addition to higher sales volumes, the average transaction value per NFT also grew substantially. Over the last seven days, the average NFT sale value climbed to $133.08, representing an 87% rise compared to the previous week’s $71.11.
This renewed interest in NFTs coincides with a broader recovery in the digital collectibles market. October data revealed an 18% rise in monthly NFT sales, breaking a seven-month downturn that began in March 2024 when the market recorded a $1.6 billion peak. October also saw a 42% increase in total NFT transactions, reaching 7.2 million.
Source: CryptoSlam
Crypto Market Surge Boosts NFT Activity
The upswing in NFT sales aligns with bullish activity in the cryptocurrency market. Following the U.S. elections, Bitcoin hit a record high of $93,477 on Nov. 13 before stabilizing at $91,000.
This broader market momentum has renewed optimism across digital asset sectors, with NFTs benefiting from increased investor participation and market activity.
