- Ethereum leads in sales, though Solana is experiencing a rush in purchasers.
- Despite small reductions in revenue, the NFT market remains resilient.
The NFT market saw sales worth $158 million in the last week, according to CryptoSlam, with this marking a small decline from last week’s sales of $181 million. However, at 12.7% down, it has maintained upward momentum from earlier in November when weekly sales were but $93 million.
With $49 million in sales, Ethereum still led the NFT space this week. However, the giant realized an impressive 25.9 percent drop in sales from the previous week. Bitcoin came second in sales at $43 million but recorded a 29% drop. Solana came third with $23.9 million in weekly sales, posting a 9% decrease.
Ethereum Leads Sales But Solana Tops Buyers
While in terms of sales volume, Ethereum is miles ahead, Solana has experienced a spike in buyer activity. The network brought on more than 185,000 NFT buyers, an impressive 57.99% increase from 117,000 the preceding week. This uptick in buyer interest suggests Solana is becoming increasingly popular within the NFT market.
Although sales volume across networks like Polygon, Mythos, Immutable, and BNB decreased slightly, there is still resilience in the market at large. The average transaction size on all the networks declined slightly from $133.08 to $126.17, which indicated a minor reduction in individual NFT sales.
November continues with the trend established in October, where $356 million in sales were recorded, representing an 18% increase above September and marking the first increase after seven months in a row of decline. This good performance heralds a strong end to the year, further testimony to renewed interest in NFTs and digital collectibles.
The latest figures of Bitcoin stand at $98,295 and Ethereum stands at $3,408. And in the NFT sale process according to Crypto Slam, Bitcoin takes the lead with $5,021,190 in sales and then comes Ethereum with $4,771,832 in sales, and then comes Solana with sales of $2,021,289, All these numbers show the robust strength of major blockchain networks, giving a positive outlook to the NFT market going into the final weeks of the year.
Different dynamics will, however, be exhibited in the NFT space as Solana buyers keep growing and Ethereum leads sales volume. As the market evolves further, blockchain networks will adjust to capture attention, and it all starts with the buyer base growth in Solana and the sales volume in Ethereum.
