The post NFTs begin December on a high, registering $187M in weekly sales volume appeared on BitcoinEthereumNews.com.

Non-fungible tokens (NFTs) began December on an impressive note, racking up $187 million in weekly sales volume in the first week. With the move, the digital arts sustained a move that has been registering since the first week of October. Notably, the push is being led by Ethereum NFTs, with the move having a lasting effect on its price. The assets registered the best opening week in a while, leapfrogging November where it witnessed $181 million in sales volume. NFT volumes dipped slightly in March, with the bearish momentum continuing across months to reach September. In September, NFTs recorded a worse monthly volume that hasn’t been seen since 2021. However, the assets fortune changed in October, recovering from the bearish returns of the previous months. The momentum was also sustained in November, registering a huge $562 million sales volume. Ethereum ranks top in NFT sales Ethereum led the other blockchains in NFT sales over the last week, racking up $92 million. The surge signifies an increase of 44.69% from the previous week and was led by the Pudgy Penguins and CryptoPunks projects, with both posting strong performances across the week. CryptoSlam data shows that Pudgy Penguins recorded sales of $25 million during the week, signifying a 346% rise from the previous week. Top NFTs by weekly sales volume. Source: CryptoSlam According to DefiLlama, the floor price of the Ethereum-based NFT collection also increased drastically, moving from 13 ETH on November 30 to around 21 ETH on December 8. CryptoPunks came in second place in sales, with a weekly sale volume of $16.5 million. The price of the NFT collection rose to 44 ETH on December 4, before dropping slightly to 40 ETH, worth around $160,000 as of December 8. Bitcoin-based NFTs were also on show, following Ethereum NFTs in second…

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Filed under: News - @ December 8, 2024 4:22 pm