Although NFT trading volumes are growing, the price dynamics of leading NFT collections still lag behind the overall trend of the cryptocurrency market. In November, the trading volume on NFT platforms exceeded $600 million, setting a record since June 2023, according to The Block.

In the NFT market, the Blur marketplace leads, accounting for nearly 69% of the total trading volume in November. OpenSea, previously dominant in the industry, now controls only 23% of the market.

Nevertheless, the prices of well-known NFT collections still do not keep up with the trends of the cryptocurrency market. According to analysts, since the beginning of the year, the value of Ethereum (ETH) has increased by 70%, while the price index of the 500 largest NFT projects, compiled by Nansen, has fallen by 16% in dollars and 50% in ETH.

In early November, it became known that the valuation of OpenSea decreased from $13.3 billion to $1.4 billion after Coatue Management re-evaluated its stake in the startup by 90%, from $120 million to $13 million.

In November 2023, OpenSea's trading volume amounted to $140 million, which is 97% less than the peak values. The Blur marketplace continues to capture the NFT market share, showing almost three times higher trading volume in November.

Since the beginning of November, the Blur token (BLUR) has risen by 120%, reaching a peak of over 200%. On November 20, the marketplace released a new airdrop for users and announced the launch of its own second-level blockchain named Blast.