- Weekly NFT sales surged to almost $200 million.
- The development came amid a broader crypto market rally.
- Among the big gainers in the crypto market included Solana (SOL).
The global non-fungible token (NFT) market witnessed a sharp gain in weekly sales, surging over 90% to almost $200 million.
The development coincided with a steady rally in the broader crypto market, which, at the time of writing, had its valuation peak at $3.04 trillion. Bitcoin traded at $90,354 after paring some of its recent gains as Solana surged the most in the last 24 hours to exchange hands at $232, CoinMarketCap data shows.
NFTs See $181M Weekly Sales
According to the latest data captured by CryptoSlam on November 17, NFTs logged a sales volume totaling $182 million over the last seven days, an impressive 94% jump compared to the previous week, when the market saw a $93 million weekly sales volume.
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Ethereum accounted for the lionโs share of the weekโs total NFT sales with $67 million, followed closely by Bitcoin at $60 million, as Solana, Mythos Chain, Immutable, Polygon, and BNB Chain reported a combined weekly sales volume of $45.5 million.
NFTs also witnessed a surge in the average value of a digital collectible transaction, which grew from $71.11 to $133.08 last week, underscoring the marketโs steady recovery after breaking a seventh-month downturn in October.
NFTs recorded $356 million in monthly sales in October after hitting a record monthly low of $300 million in September.
At its peak, the NFT market recorded weekly sales of over $2.2 billion between August 23 and August 29, 2021, CryptoSlam data shows.
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