Key Points
- NFT sales volume surged to $562 million in November 2024, marking a 57.8% increase from October and reaching the highest level since May, according to data from CryptoSlam.
- Leading NFT collection CryptoPunks demonstrated remarkable growth with its floor price increasing by 52% to 39.7 ETH, while recording over $49 million in monthly sales volume.
Market Recovery and Volume Surge
The non-fungible token (NFT) market demonstrated significant recovery in November, with total sales volume reaching $562 million, according to CryptoSlam data. This represents a substantial 57.8% increase from October’s $356 million, marking the highest monthly volume since May 2024, when sales reached $599 million. Despite this positive trend, current volumes remain below the market’s peak in March 2024, which saw $1.6 billion in sales.
Premium Collections Show Strong Performance
CryptoPunks emerged as a standout performer in November, with its floor price experiencing a remarkable surge from 26.3 ETH to 39.7 ETH (approximately $147,000) between November 1 and November 30. The collection’s sales volume exceeded $49 million, representing a 392% increase compared to October, with 388 transactions completed. Similarly, Pudgy Penguins demonstrated impressive growth, with sales volume increasing by 262% to reach $16 million, and its floor price rising by 49% to 13 ETH.
Blockchain Distribution and Network Performance
The recovery has been particularly notable across major blockchain networks. Ethereum maintained its leadership position with $216 million in sales volume, showing a 12% increase from October. Bitcoin’s NFT ecosystem recorded the most substantial growth among top networks, with sales volume reaching $186 million, representing a 99.44% month-over-month increase. Additional networks, including Solana, Mythos Chain, Immutable, Polygon, and BNB Chain, collectively contributed $162.9 million to November’s total sales volume.
This market analysis is demonstrating a comprehensive recovery across the NFT ecosystem, with strong performance indicators across multiple collections and blockchain networks.
