NFT Sales on Ethereum and Bitcoin Reach Record Levels, Outpacing Competitors

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by Giorgi Kostiuk

2 years ago

NFT sales reached $181 million last week, showing significant growth compared to the previous week.

Record NFT Sales on Major Blockchains

According to CryptoSlam, NFT sales recorded $181 million over the past week, marking a 94% increase from the previous week's $93 million. Ethereum and Bitcoin stood out among other blockchains, with substantial growth: Ethereum's sales rose to $67 million, and Bitcoin reached $60 million.

Growth in Average NFT Transaction Value

The average value of an NFT transaction increased significantly with rising sales volumes. A week ago, the average sale value was $71.11, but this week it jumped 87% to $133.08.

Recovery in Place: Market Shows Signs of Rebound

The market began to recover, ending its decline seen in monthly sales charts. October's digital collectibles sales reached $356 million, an 18% increase from September's record low. The total number of NFT transactions for the month hit 7.2 million, a 42% rise from the previous month.

The significant growth in NFT sales and average transaction values highlights a recovery in the market after an extended slump.

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