The post NFT Sales Surge 57.8% in November Amid Positive Market Momentum appeared on BitcoinEthereumNews.com.

NFTs saw a significant uptick in sales volume over October, reaching $562 million. On Monday, November 25th, the floor price of CryptoPunks hit 37.68 ETH. As interest in digital collectibles continues to rise, sales of non-fungible tokens (NFTs) surged by 57.8 percent in November, continuing their monthly upward trend. An analysis by analytics firm CryptoSlam revealed on December 1st that NFTs saw a significant uptick in sales volume over October, reaching $562 million. NFT monthly sales in November hit a new record, according to CryptoSlam statistics. The previous best was in May, when digital collectibles recorded sales volume of $599 million. CryptoPunks Leads the Way On Monday, November 25th, the floor price of CryptoPunks hit 37.68 ETH, which is the highest it has been since May. Since the beginning of the month, when the floor price was 25.35 ETH, there has been a tremendous 47% growth. November was a banner month for the NFT market as a whole, but CryptoPunks really shone. Despite the general upturn in the NFT market, CryptoPunks has performed better than any other popular collection by a wide margin. In contrast, BAYC has increased by 7%, Milady Maker by 34%, and Pudgy Penguins by 28% within the same time frame. Compared to CryptoPunks’ 47% leap, the average floor price increase for these rival collections is 34.5%. A representation of the history and culture of NFTs, CryptoPunks was one of the first big NFT initiatives. Among the more seasoned “whale” market players and traders, their inherent worth as “OG” NFTs makes them a reliable blue-chip asset. Positive sentiment has returned to the NFT market as a whole after Bitcoin hit a new all-time high; this upbeat mood has most likely permeated NFTs as well, with prominent collections like CryptoPunks reaping the lion’s share of the spotlight. Highlighted…

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Filed under: News - @ December 1, 2024 3:23 pm