NFT market rebounds with 22% volume surge in November despite declining sales, data shows

After months of slowdown, the NFT market now shows signs of recovery with a 22% increase in trading volume as of November, boosted by prices and high activity in blue-chip collections.

DappRadar’s analyst Sara Gherghelas attributes the growth to “increased engagement with blue-chip collections” like those from Yuga Labs and rising token prices, alongside increased liquidity and confidence among investors.

“Improved liquidity and increased engagement with blue-chip collections are fostering confidence among collectors and investors, who are now viewing NFTs not only as speculative assets but also as cultural commodities.”

Sara Gherghelas

Despite the growth in trading volume, sales volume declined by 11% to 3 million units, which might be signaling a shift toward more valuable transactions.