NFT market revives as major collections soar in sales and volume
Main NFT collections see elevated demand as gross sales and buying and selling quantity soar throughout a number of networks.
Because the crypto market rallied after a chronic crypto winter, the non-fungible tokens (NFT) market additionally hints at a comeback — the buying and selling quantity of a number of main collections recording important highs after months of regular decline.
NFT markets are rallying once more 🔥
Here is all of the bullish information you could know
In 4 minutes or much less 👇 pic.twitter.com/GuZM6X2zQu
— Bankless (@BanklessHQ) November 12, 2023
Based on the info from Coingecko, the ground costs of the highest 15 NFT collections have considerably soared over the previous few days, demonstrating growing demand.
Most notably, the ground value of the Bored Ape Yacht Membership (BAYC) assortment has elevated over 70% in a month, from $24.8 within the first week of October to $30.90 on Nov. 13. BAYC’s 24-hour buying and selling quantity has additionally risen by 51% as we speak, showcasing elevated buying and selling throughout marketplaces.
TOP NFTs | Supply: CoinGecko
The 24-hour buying and selling quantity of Captainz, a well-liked assortment from Memeland, soared by over 680% since yesterday.
You may additionally like: CryptoPunks drive NFT surge with $1.1m sale
Knowledge from Dune Analytics present that NFT buying and selling quantity throughout main marketplaces in November recorded the very best figures since July. On Nov. 10, day by day buying and selling quantity reached a four-month excessive, with Blur accounting for the lion’s share of the trades.
NFT buying and selling quantity throughout main marketplaces | Supply: Dune
When it comes to gross sales quantity, CryptoPunks led the way in which with a 373% enhance in weekly gross sales. BAYC additionally recorded a 42% enhance in gross sales.
General, weekly NFT gross sales elevated by over 60% on Ethereum (ETH) and Solana (SOL) networks. Bitcoin’s BRC-20 collections additionally noticed elevated demand, with $SATS and $RATS making notable gross sales over the week.
Blockchains by NFT gross sales quantity | Supply: CryptoSlam
The rising gross sales and buying and selling volumes recommend a optimistic This fall for the NFT market, with elevated demand throughout all main marketplaces. Nevertheless, the non-fungible tokens market remains to be a mere shadow of its 2021 peak. If the optimistic sentiment continues to maintain over the brand new yr, we’d see the general market revive to some extent.
Learn extra: Blur token skyrockets as NFT gross sales surpass the $10m mark
