November witnessed an extraordinary surge in non-fungible token (NFT) sales, marking a 129.01% increase in volume compared to October. Notably, Bitcoin emerged as the dominant blockchain for NFT sales during the month, surpassing Ethereum in transaction value. This shift is attributed to the substantial rise in Ordinal inscription minting and trading activities on the Bitcoin network.
The total NFT sales for November amounted to $944.33 million, representing a remarkable surge from October’s $412 million. Despite this surge, buyer participation and seller numbers experienced declines of 20.16% and 18.90%, respectively, as indicated by statistics from cryptoslam.io.
A pivotal development in November was the dominance of Bitcoin in NFT sales, with transactions totaling $382.88 million. This exceeded Ethereum’s NFT sales, which amounted to $362.56 million during the same period. Bitcoin’s NFT sales experienced a staggering 1,928.65% surge compared to October, while Ethereum’s sales also grew by 57.28%.
Solana’s NFT sales witnessed a significant uptick, surging by 190.11% to reach $86.99 million. In contrast, Polygon experienced a 33.90% decrease, recording $26.78 million in sales, and Mythos saw a 30.32% drop, reaching $25.66 million in sales volume.
Leading the month, Bitcoin’s “$SATS BRC-20” collection secured $93.44 million in sales, marking a substantial 974% increase from the previous month. Ethereum’s Bored Ape Yacht Club (BAYC) ranked third with sales of $43.36 million, indicating an 88.66% increase. Cryptopunks claimed the fourth spot, achieving $29 million in transactions, reflecting a rise of 169.61%.
Despite Bitcoin’s dominance in overall sales, the most expensive NFT sold in November belonged to the Ethereum blockchain. The NFT “Uniswap V3 Positions NFT-V1 #14” was acquired for a significant $1.66 million. Other notable sales include a “$BTCS BRC-20” NFT fetching $376K and the “Voting Token Lockup #3” from Arbitrum achieving a sale price of $300K.
November’s surge in NFT sales, coupled with Bitcoin’s prominence, underscores the dynamic evolution and expanding influence of digital assets in various blockchain ecosystems.
