NFT Market Health Rebounds In Q4, 2024, With Over $2.2B In Sales Volume

The global non-fungible token market has seen another sales surge in Q4, 2024. In the past 90 days, the global NFT market has attracted a trading sales volume of over $2.2 billion, surging by 96 percent from the previous quarter.

Data from Tiexo.com, an on-chain non-fungible token collection explorer and an analytic hub, shows that the NFT market has started to recover from the downturn that began in April 2024. In the past three months, the NFT market has seen a gradual increase in trading sales volume, which began to pick up pace in November 2024.

The NFT market began the year 2024 strong, reaching $4.1 billion in Q1, 2024. In February 2024, the NFT sales climbed to just over $1.290 billion, a 3.6% increase from January’s $1.245 billion. In March, the NFT sales jumped further to $1.605 billion, up 19.6% from February’s $1.290 billion.

However, the NFT sales began tanking after the BRC-20 and Runes NFTs, which fueled a resurgence in November 2023, lost traction. In April 2024, the NFT market suffered another blow, with its trading sales volume flipping to $1.2 billion, down around $205 million from the previous month.

In May 2024, the NFT market further melted escalated, leaving the trading sales volume down nearly half to $599 million. In June 2024, the NFT meltdown further deteriorated, pushing trading sale volume to $436 million.

The global NFT market has since suffered a month-over-month decline, declining to $428 million in July 2024. In August 2024, the global NFT market further went down, recording a trading sales volume of $393 million. Cumulatively, the NFT market amassed a trading sales volume of $1.12 billion in Q3, 2024.

In September 2024, the NFT trading sales volume further declined to only $303 million. Fortunately, the global NFT market began skyrocketing again in November 2024, with trading sales volume pumping to over $563 million.

This NFT resurgence was fueled by the recent re-election of Donald J Trump as the 47th United States President. During his campaign, Donald Trump promised to offer an ample environment for crypto users, consequently bringing more users back to the crypto and NFT market. This confidence has pushed NFT trading sales volume up to nearly $1 billion in December and over $2.2 billion in Q4, 2024.

Blur, a renowned non-fungible token marketplace and aggregator platform offering advanced features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons, has been the leading NFT marketplace in Q4, 2024.

In the past 90 days, the NFT marketplace has amassed a trading sales volume of $903 million, representing 40% of the total market share. OpenSea, one of the world-largest web3 marketplaces for non-fungible tokens and crypto collectibles, has been the second most-traded NFT marketplace in Q4, 2024.

In the past 90 days, the OpenSea NFT marketplace has recorded a trading sales volume of $622 million, taking 28% of the total market share. During this time, the Ethereum NFTs took the lion’s share, amassing 65% of the total trading sales.

Magic Eden, another leading multi-chain digital market platform supporting non-fungible tokens on Solana, Ethereum, Polygon, and Bitcoin, has been the third leading NFT marketplace in Q4, 2024.

In the past 90 days, the Magic Eden NFT marketplace has raised a trading sales volume of $374 million. During this period, the Bitcoin Ordinals NFTs took the largest share, accumulating 71% of the total trading sales volume.

Tensor, a renowned non-fungible token marketplace that provides users with a smooth, fast, and secure NFT trading platform, has been the fourth leading NFT marketplace in Q4, 2024.

In the past 90 days, the Tensor NFT marketplace has raised a trading sales volume of $134 million, taking 6.07% of the total market share. During this time, the Solana-based NFTs have taken all the 100% of the total sales volume.

Lastly, CryptoPunks, a renowned NFT marketplace dedicated exclusively to the iconic