Ethereum

2024

Mythos

Non-fungible tokens (NFTs) are rallying impressively, witnessing a substantial 57.8% increase in sales during November as digital collectibles regain their momentum. This uptick marks a promising recovery for the market. 
Data <a href="https://cointelegraph.com/news/nft-monthly-sales-volume-562-million-november">released</a> on December 1 by CryptoSlam revealed that NFTs achieved $562 million in sales in November, representing a significant rise from October. Notably, this is the highest monthly sales volume since May, where digital collectibles reached $599 million. Despite this resurgence, monthly sales volumes remain significantly below the early 2024 peak. In March, digital collectible sales achieved a yearly high of $1.6 billion. However, a marked decline followed, resulting in a seven-month slump that saw sales volumes hitting their lowest since 2021. 
In a parallel trend with the overall crypto market surge, the renowned NFT collection CryptoPunks demonstrated an outstanding performance in November. 
Data from DefiLlama indicates that the floor price of CryptoPunks rose from 26.3 Ether ($3,704.79) on November 1 to 39.7 ETH by the month's end, valued at approximately $147,000 at current market prices. Furthermore, CryptoSlam reported that CryptoPunks recorded over $49 million in a 30-day sales volume, marking a staggering 392% increase from the previous month. The collection also registered 388 sales transactions, up by 213% compared to October. 
The Pudgy Penguins collection also enjoyed a successful November. Monthly sales volume surged by 262% on a month-on-month basis, totaling $16 million. DefiLlama data highlighted an increase in Pudgy Penguins' floor price from 8.7 ETH on November 1 to 13 ETH, around $48,000, by November 30, reflecting a 49% rise. 
Ethereum emerged as a leader in the NFT market, achieving over $216 million in sales volume, marking a 12% increase from October. Bitcoin, however, recorded the highest percentage increase among top blockchains, with a notable surge of 99.44%, reaching $186 million in sales volume. Meanwhile, Solana, Mythos Chain, Immutable, Polygon, and BNB Chain collectively garnered $162.9 million in NFT sales for November.

NFT Sales Volume Hits Six-Month Peak at $562M, Signaling Market Recovery

Yellow News

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