The Non-Fungible Token (NFT) market continues to maintain a fairly strong pace, with weekly sales volumes of 158 million dollars. These volumes are up by +69% compared to those at the beginning of the month, when they were 93 million dollars.
NFT on the rise: recorded a weekly sales volume of 158 million dollars
According to the data from CryptoSlam, it seems that the NFT market is gaining momentum. In fact, yesterday, the recorded weekly sales volume was 158 million dollars.
This volume is down by -12.7% compared to the volumes recorded a week ago, but up by +69% compared to the first week of November.
This means that the sales pace of the Non-Fungible Token market remains quite strong.
In fact, in numbers, the first week of November, the weekly sales volumes of NFT were 93 million dollars, followed by the second with 181 million dollars and the present at 153 million dollars.
Making a monthly comparison, the sales volumes in November are expected to be higher than those in October, recording the market momentum. Not only, in October, NFTs recorded a sales volume of 356 million dollars, with an increase of 18% compared to September.
As of today, the networks that have recorded the highest weekly sales are Ethereum, Bitcoin, and Solana.
NFT and the ranking of blockchains for weekly sales: Ethereum leads
Looking at the current ranking of blockchains for weekly NFT sales, Ethereum is leading with 48.2 million dollars. Following is Bitcoin with 40.6 million dollars and Solana with 22.2 million dollars.
Descending from the podium, then, the ranking sees Polygon with a weekly NFT sales volume of 15.6 million dollars, Mythos Chain with 10.7 million dollars, and Immutable with 7.19 million dollars.
It must be said, however, that the same ranking changes if viewed in the column of the number of weekly NFT buyers.
In fact, in that case, leading is Solana with over 190,000 new weekly buyers, Polygon with its over 50,000. Following, just above 40,000 new weekly buyers, there are Bitcoin, Ethereum, and Mythos Chain, and finally with not even 10,000 Immutable.
The drop of 2024 does not stop the market
Recently, an analysis of the 2024 NFT Drops market revealed that 98% are “dead,” and only 0.2% have returned profits to investors.
These are just some data that reveal the harsh truth about the NFT drop market of this current year, reported by NFTEvening.
In fact, other information states that 64% of the 2024 NFT drops have less than 10 mints and that 98% of all analyzed NFT drops recorded less than 10 trades in the first week.
Speaking of price, it seems that for 84% of the NFT drops in 2024, the all-time high or ATH is equal to the mint price of the collection.
Despite these not-so-great figures, it seems that the NFT market continues to be a valid alternative. Recently, both Poste Italiane and McDonald’s have launched their new collections.
