With the broader cryptocurrency market just making a comeback in November, the NFT market is heating up again.
According to CoinGecko's December data, the sector's market capitalization increased by 17.3% in one week to $8.8 billion. The same dataset also shows a spike in volume, with daily transactions across all chains surging nearly 48% in the past 24 hours.
This is significantly higher than November's performance, which saw $562 million in sales, according to CryptoSlam data. Looking at the chart, this number is the highest NFT sales since May of this year, when sales were around $600 million.
In particular, the number of unique buyers in November decreased to just 662,000 compared to May, when it exceeded 1 million.
Blue Chip NFT: See it in numbers
Bluechip NFT Collection maintains its dominance in this space across all chains (even non-EVM chains). CoinGecko’s NFT heatmap shows it currently has a lowest price of 42.99 ETH, worth about $159,000. The number has risen nearly 5% in the past 24 hours and is up more than 14% for the week.
CryptoPunks also led the rally in November, with trading volume of $49 million, an increase of 392% from October with just 388 trades.
While new collections are emerging, CryptoPunks' 40% market share and median transaction value of $114,131 demonstrate that this pioneering collection maintains its appeal among avid collectors and investors. I am.
Not to be outdone, Bored Ape Yacht Club is also holding strong at 21.27 ETH ($79,727), posting an impressive weekly gain of 75.79% and grabbing the attention of the entire trading hall. This collection has moved 1,486 ETH worth of trading volume in the past day alone, suggesting that whales and collectors are making big bets.
The surge is not limited to the usual suspects. Pudsey Penguins, which has emerged as a strong contender in the blue-chip space, maintains a healthy floor of 14.869 ETH ($55,758) and is up nearly 30% weekly. Even Azuki, sitting at a more accessible 5.799 ETH, saw its floor rise 8.61% in one day.
Three collections currently control 73% of all market activity: CryptoPunks, BAYC, and Pudgy Penguins. Meanwhile, Ethereum remains the king with November sales of $216 million, while Bitcoin is making waves with a 99.44% monthly increase to $186 million.
According to Dune Analytics data collated by Dragonfly Capital analyst Hilldobby, Blur leads the EVM chain-wide marketplace, pushing up around $271 million in trades, with OpenSea not far behind with $161 million. It has been shown that this is not the case.
When it comes to who uses what, OpenSea remains the go-to marketplace for most people, with around 188,000 active traders making over 2 million trades. Interestingly, Blur derives its revenue from a smaller but more active user base of around 38,000 traders.
far from its heyday
While these recent NFT trading volumes show signs of life, the CryptoSlam 500 NFT Index tells a somber story about the overall market trajectory. Currently hovering at 1,135.04, the index is down a dramatic 53.77% from its peak and is still a long way from the heady days when NFTs dominated cryptocurrency headlines and captured mainstream attention. It suggests that.
The index, which tracks 500 smart contracts across 11 major blockchains including Ethereum, Solana and Polygon, has fallen from a high of 2,494.74, highlighting a market seeking a new sense of balance. There is.
While recent platform innovations and interest from institutional investors offer a glimmer of hope, data shows the NFT market is still working to regain the explosive growth that once defined the sector. Suggests.
Edited by Sebastian Sinclair
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