Ethereum

Pudgy Penguins

Million

Optimism

Mythos

NFT market is experiencing a robust recovery, marking a strong start to December with weekly sales surpassing $187 million, <a href="https://www.cryptoslam.io/nftglobal?headerPeriod=7d" rel="noopener noreferrer nofollow">according</a> to CryptoSlam. This upward trend <a href="https://thecoinrise.com/nft-market-sees-rebound-with-562m-surge-in-november-sales/" rel="noopener noreferrer nofollow">continues the momentum from November</a>, which recorded $181 million in its strongest week.
After a period of declining sales volume since March—reaching a low in September—NFTs began recovering in October. November cemented this resurgence with a monthly sales volume of over $562 million, reflecting a 57% increase from the previous month. The first week of December builds on this trajectory, with Ethereum dominating as the leading blockchain for digital collectibles.
<h2 id="span-style-font-weight-400-ethereum-s-nft-dominance-span">Ethereum’s NFT Dominance</h2>
Ethereum recorded an impressive $92 million in NFT sales during the week, up 44.69% from the previous week. Key drivers of this surge include popular collections like Pudgy Penguins and CryptoPunks.
<a href="https://thecoinrise.com/pudgy-penguins-to-launch-mobile-game-in-diversification-move/" rel="noopener noreferrer nofollow">Pudgy Penguins led the charge</a> with $25 million in sales, representing a staggering 346% week-over-week increase. Its floor price also saw a significant jump, rising from 13 ETH on November 30 to 20.9 ETH (approximately $83,000) by December 8, according to DefiLlama data.
CryptoPunks followed closely with $16.5 million in weekly sales. The iconic collection’s floor price briefly <a href="https://defillama.com/nfts/collection/0xb47e3cd837ddf8e4c57f05d70ab865de6e193bbb" rel="noopener noreferrer nofollow">hit</a> 44 ETH on December 4 before stabilizing at 40 ETH ($160,000) by December 8.
Bitcoin-based NFTs also made a strong showing, securing the second spot with $43.8 million in sales. Meanwhile, blockchains like Solana, Immutable, Mythos Chain, Polygon, Cardano, and Flow collectively contributed $47 million in sales volume.
<h2 id="span-style-font-weight-400-eth-price-breakout-sparks-optimism-span">ETH Price Breakout Sparks Optimism</h2>
The resurgence in Ethereum-based NFTs coincides with a notable <a href="https://thecoinrise.com/ethereum-price-to-cross-5k-inspiring-fomo-for-this-undervalued-rwa-altcoin-expected-to-rally-45000/" rel="noopener noreferrer nofollow">price breakout for Ether (ETH)</a>. On December 6, ETH surged above $4,000, reaching a high of $4,067. Analysts believe this rally could signify the beginning of a new paradigm shift for Ethereum.
One trader drew parallels to Ethereum’s historic 2016-2017 bull run, suggesting the asset could potentially climb as high as $15,000 in the near future. This bullish sentiment, coupled with rising NFT activity, paints an optimistic picture for Ethereum’s ecosystem heading into 2024.
The post <a href="https://thecoinrise.com/nft-sales-surge-in-december-ethereum-leads-with-92-million-weekly-volume/" rel="noopener noreferrer nofollow">NFT Sales Surge in December: Ethereum Leads with $92 Million Weekly Volume</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

NFT Sales Surge in December: Ethereum Leads with $92 Million Weekly Volume

Table of Contents

TheCoinrise Media

Other articles published on Dec 8, 2024

Ethereum’s Golden Cross Sparks Off Altcoin Season: A Possible First Sign!

These 5 altcoins could make lambo dream come true this bull market

Unique Lineup of 6 Cryptocurrencies That Will Build Generational Wealth for Investors in the Next...

Best Meme Coins to Hold This Weekend: BTFD Coin, Dogwifhat, and Cheems Are Top Contenders

Trader who forecasted ETH’s ATH eyes $10K next and huge ROI for a new ETH alternative

Just a Pepe Guy: The Ultimate Meme Mash-Up

Join our free newsletter for daily crypto updates!