NFT Market Stays Strong With $158M in Weekly Sales, Solana Leads in Buyers

tokens (NFTs) continued to show strong market momentum with a total weekly sales volume of $158 million, according to data from CryptoSlam. Despite a 12.7% decline from the previous week’s $181 million, the market remains significantly higher than the $93 million recorded in early November, reflecting a 69% increase month-to-date.

Non-fungible token (NFT) sales remained strong last week with a total volume of $158 million, according to data from CryptoSlam.

This marked a 12.7% decrease from the previous week’s $181 million, but it was still significantly higher than the $93 million recorded in early November, showing a 69% increase month-to-date.

Ethereum Maintains Sales Volume Dominance, Solana Leads in Buyers

Breaking down the sales by blockchain, Ethereum maintained its lead with $49 million in NFT sales volume last week — a 25.9% decline from the previous period. Bitcoin followed with $43 million in sales, down 29%. Solana secured the third spot with $23.9 million, reflecting a smaller 9% dip.

However, Solana outpaced all networks in terms of buyer activity, attracting over 185,000 unique NFT buyers — a 57.99% surge from last week’s 117,000. The average transaction value across all chains dropped slightly, from $133.08 to $126.17.

Other networks, including Polygon, Mythos Chain, Immutable, and BNB Chain, collectively generated $35.8 million in weekly sales volume, maintaining their contribution to the NFT ecosystem.

Monthly NFT Momentum Builds

November is set to easily surpass December 2022’s $356 million total sales volume, which marked an 18% increase over September and ended a seven-month downtrend in monthly NFT sales volume.

The rise in Solana’s buyer activity, coupled with Ethereum’s continued dominance in sales, highlights the diverse dynamics unfolding across leading blockchains. Despite market fluctuations, sustained interest in NFTs signals a resilient market as the year-end approaches, according to Cointelegraph.