On November 17, digital collectible data provider CryptoSlam reported that NFT sales hit $181 million in the last seven days, marking a 94% increase compared to the previous week, when NFT sales were only $93 million.

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The Ethereum network finished the week as the top performer, registering a $67 million sales volume, an increase of 111% from the previous week. During the same period, the Bitcoin blockchain saw $60 million in NFT sales, marking a 115% rise.

Other major blockchains, including Solana, Mythos Chain, Immutable, Polygon, and BNB Chain, collectively made $45.5 million in sales.

Along with the surge in sales volume, the average NFT sale value also rose. Over the past seven days, the average sale price of an NFT jumped to $133.08, an 87% increase from the previous week’s average of $71.11.

NFT Market Shows Growth

This surge in sales comes after months of decline in the digital collectible sector. In October, NFT sales amounted to $356 million, an 18% increase from September, when sales had dropped to about $300 million, signaling the end of a seven-month downturn.

Additionally, NFT transactions also saw a rise in October, reaching a total of 7.2 million, marking a 42% increase from the previous month.

The surge in NFT sales aligns with the broader crypto market rally. Following the U.S. presidential elections, crypto markets saw a significant jump, with Bitcoin leading the way. On November 13, Bitcoin hit a new all-time high of $93,477, and as of now, it is trading around $91,000, with a market capitalization of $1.8 trillion.

NFT market continues to thrive, driven by powerful blockchains like Ethereum and Bitcoin, and fueled by the ongoing crypto market momentum. Expect more growth and innovation in the coming periods.

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