The non-fungible token market recorded a remarkable resurgence in November, marked by a meteoric rise in trading sales volume and floor price values. The global NFT market has surged past $500 million, fueled by a resurgence in interest following Donald Trump’s recent re-election in the United States, among other factors. During his campaign, His Excellency Trump promised to tame the volatile crypto market, pushing more investors back to the NFT market.
NFT Sales Rise By 50% In November 2024
Data compiled by CryptoSlam.io , an on-chain crypto market data aggregation platform designed to offer transparency for NFT collectibles across multiple blockchain and backed by prominent crypto billionaire Mark Cuban, shows that the global non-fungible token market has surged in sales volume in November. In the past 30 days, the global NFT market has attracted a trading sales volume of $562 million, representing a 50% increase from October 2024.
In November 2024, the number of investors buying non-fungible token collections has also increased. In the past 30 days, the global NFT market has seen 664,360 traders buying NFTs. During this period, the number of investors that sold their NFTs has also reduced this month to 429,014. These trading activities have pushed the global NFT market transactions above 5.4 million.
Ethereum, the blockchain network renowned in the NFT market for powering the majority of blue-chip non-fungible token collections, has continued to lead the NFT ecosystem this month. In the past 30 days, the Ethereum-based NFT collections have amassed a trading sales volume of $220 million. During this time, Ethereum NFT sales have surged by 14% from the past month.
Bitcoin, the blockchain network renowned in the global NFT market for hosting Runes, Ordinals, and BRC-20 NFTs, has significantly surged, becoming the second most-traded NFT blockchain network in November 2024. In the past 30 days, Bitcoin-based NFT collections have raised a trading sales volume of $188 million, up 100.4% from the past month.
Solana, an open-source blockchain network that supports smart contracts, including non-fungible tokens and various decentralized applications, was the third most-traded blockchain network in the NFT market in November 2024. In the past 30 days, the Solana-based NFT collections have amassed a trading sales volume of $83 million. During this time, the Solana NFT trading sales have plunged by 7.41% from the past week.
Mythos Chain, a blockchain network designed to offer secure and efficient transactions across the Mythical Games NFT ecosystem, was the fourth most traded blockchain network in the NFT market in November 2024. In the past 30 days, the Mythos Chain-based NFT collections have garnered a trading sales volume of $25 million. Nonetheless, the Mythos Chain NFT sales volume plunged by 52% in November from October 2024.
Immutable X, an Ethereum Layer-2 scaling solution network designed to support a wide range of applications, including games, marketplaces, and digital assets, was the fifth most-traded blockchain network in November 2024. In the past 30 days, Immutable X-based NFTs have recorded a trading sales volume of $24 million, up 51% from the past month.
Five Top Selling NFTs In November 2024
1. $?? BRC-20 NFT Collection
$??, a non-fungible token collection created using the Bitcoin creator’s ordinals theory, a method used for inscribing unique, non-fungible tokens directly onto individual satoshis, the smallest unit of the Bitcoin network, has been the most-selling NFT collection in November 2024. In the past 30 days, the $?? BRC-20 NFT collection has recorded a trading sales volume of $72 million. The $?? BRC-20 NFT trading sales have surged by 1,730% in November from October 2024.
Source: cryptoslam.io, top selling NFTs in the past 30 days
2. CryptoPunks NFT Collection
CryptoPunks, a non-fungible token collection featuring a fixed supply of 10,000 pixilated NFTs previously created by Larva Labs and now managed by Bored Ape NFT creator Yuga Labs, has been the most-selling NFT collection in November. In the past 30 days, the CryptoPunks NFT collection has recorded a trading sales volume of $49 million. During this period, CryptoPunks NFT sales volume has surged by 388% from the past month.
3. DMarket NFT Collection
DMarket is an NFT collection from the DMarket, an NFT and virtual in-game item trading marketplace built on the Mythos blockchain, representing in-game virtual items of popular online games like Counter-Strike and Dota 2, has been the third most-selling NFT collection in November. In the past 30 days, the DMarket NFT collection has recorded a trading sales volume of $24 million. DMarket NFT sales volume has plunged by 33% from the past month.
4. Bored Ape Yacht Club NFT Collection
Bored Ape Yacht Club, an NFT collection from the digital asset incubation firm Yuga Labs that features a limited supply of 10,000 NFTs hosted on the Ethereum blockchain network, has been the fourth most-selling NFT collection in November. In the past 30 days, the Bored Ape Yacht Club NFT collection has garnered a trading sales volume of $22 million. During this period, the Bored Ape Yacht Club NFT trading sales volume has surged by 114% from the past month.
5. Guild Of Guardians NFT Collection
The Guild of Guardians, a non-fungible token collection from Guild of Guardians, a renowned role-playing NFT game that allows players to take teams of heroes through challenging dungeons to collect redeemable resources, has been the fifth most-selling NFT collection in November 2024. In the past 30 days, the Guild of Guardians has amassed a trading sales volume of $19 million. During this time, the Guild of Guardians NFT trading sales have surged by 44% from the past month.
The NFT Market Prediction For December 2024
The NFT market has struggled to regain the momentum it experienced during the height of the 2021 crypto boom. Oversupply, high gas fees on the Ethereum network, and a lack of proper regulatory framework have contributed to a decline in trading volumes and prices. Now that crypto-friendly Trump has taken office, the NFT regulations are expected to have a new look and fuel NFT adoption. This move will bring down FUD and fuel the next NFT bull run.
Related NFT News:
- NFTs Weekly Sales Soar By 12% To Reach $160M
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- Bitcoin’s Uncategorized Ordinals NFT Sells For +$6 Million
