- NFT sales reached $562 million in November, a 57.8% increase from October volumes.
- CryptoPunks led individual collections with a 392% rise in monthly sales volume.
- Ethereum and Bitcoin networks dominated NFT sales, with Bitcoin sales up nearly 100%.
The digital collectibles market showed significant signs of recovery in November, with non-fungible token (NFT) sales climbing to $562 million, marking a 57.8% increase from October, according to CryptoSlam data. This is the highest monthly sales figure since May, when NFTs recorded $599 million in volume.
Despite the resurgence, the market remains far from its peak earlier in 2024. March saw a high of $1.6 billion in NFT sales, followed by a seven-month downturn that ended with October’s lowest monthly sales since 2021.
CryptoPunks and Pudgy Penguins Lead the Charge
Popular NFT collection CryptoPunks stood out in November, with its floor price surging by 52% during the month. DefiLlama data showed that CryptoPunks’ floor price rose from 26.3 Ether (ETH) on Nov. 1 to 39.7 ETH by Nov. 30, equivalent to approximately $147,000. Monthly sales volume for the collection skyrocketed by 392%, totaling over $49 million across 388 transactions—a 213% increase from October.
Pudgy Penguins also saw remarkable growth, with sales volume jumping 262% month-over-month to reach $16 million. The collection’s floor price climbed from 8.7 ETH to 13 ETH, reflecting a 49% gain.
Ethereum and Bitcoin Dominate Blockchain Sales
The Ethereum blockchain led NFT sales in November, recording $216 million, a 12% increase from October. Bitcoin followed with $186 million in sales, showing a 99.44% rise—the highest percentage increase among major blockchains.
Other networks like Solana, Mythos Chain, Immutable, Polygon, and BNB Chain collectively contributed $162.9 million in sales, further highlighting a broader recovery in the NFT ecosystem.
This resurgence demonstrates renewed investor confidence in digital collectibles, with strong performances from key collections and blockchain networks setting the stage for continued growth.
