In the past week, NFT sales volume reached $181 million, marking a 94% increase compared to the previous week, amidst a rise in crypto assets.
Rise in NFT Sales Volume
CryptoSlam data showed that as of November 17, NFT sales volume hit $181 million for the week. This marks a 94% increase compared to last week when sales were $93 million. The Ethereum network led with a sales volume of $67 million, a 111% increase compared to last week. Meanwhile, the Bitcoin blockchain recorded $60 million in NFT sales over the last seven days, a 115% increase from the previous week. Solana, Mythos Chain, Immutable, Polygon, and BNB Chain collectively recorded a sales volume of $45.5 million.
Continuation of Momentum
The surge in weekly NFT sales volume comes as the market saw a resurgence, breaking its downturn in the monthly sales charts. In October, digital collectibles recorded $356 million in sales, marking an 18% increase compared to September. This growth ended a seven-month downturn.
Crypto Market Bullish Trend Impacting NFTs
The rise in NFT sales volumes occurs amid a bullish momentum in the broader crypto markets. Following the United States elections, crypto markets rallied with Bitcoin reaching a new all-time high of $93,477 on November 13.
The sharp rise in NFT sales indicates a return of optimism in the crypto and digital collectibles markets, which may continue into the future.
