By Bitcoin.com - 4 months ago - Reading Time: 2 minutes
NFT Sales Boom in November — Bitcoin Dethrones Ethereum in Market Surge
Sales of non-fungible tokens (NFTs) experienced a notable surge in November, with a 129.01% increase in sales volume compared to October. Additionally, NFTs created on the Bitcoin blockchain surpassed those on Ethereum in terms of sales this past month. This shift can be attributed to a marked rise in Ordinal inscription minting and trading activities on the Bitcoin network in recent times.
Bitcoin Climbs Past Ethereum in Staggering November NFT Sales Surge
NFTs experienced a vibrant month in sales over the past 30 days, reaching close to $1 billion in transactions, with an exact figure of $944.33 million. This figure represents a slight increase, just above 129%, compared to the $412 million in sales observed in October. However, despite this upsurge, November saw a decline of 20.16% in buyer participation, while seller numbers fell by 18.90%, as reported by cryptoslam.io statistics.
This month marked a significant shift with sales originating from the Bitcoin blockchain surpassing those from Ethereum. In the past 30 days, BTC-based NFT sales reached $382.88 million, exceeding Ethereum’s sales by $20.32 million, which totaled $362.56 million. Bitcoin’s NFT sales witnessed a significant 1,928.65% surge compared to October’s figures. Meanwhile, Ethereum’s sales also grew, registering a 57.28% increase over the sales in October.
In November, Solana’s NFT sales experienced a significant boost, soaring by 190.11% to reach $86.99 million. Conversely, Polygon saw a decrease of 33.90%, tallying $26.78 million in sales, while Mythos experienced a 30.32% drop, recording $25.66 million in sales volume. Dominating the month, BTC led with the “$SATS BRC-20” collection, amassing $93.44 million, a 974% increase from the previous month. The “$RATS BRC-20” collection from Bitcoin secured the second position, garnering $45.58 million in sales.
The $RATS BRC-20 collection skyrocketed by a massive 4,768,571% compared to the previous month. Ethereum’s Bored Ape Yacht Club (BAYC) ranked third in November with sales of $43.36 million, marking an 88.66% increase. Cryptopunks claimed the fourth spot, achieving $29 million in transactions, a rise of 169.61%. Sales from Mythos’ Dmarket reached $25.10 million, showing a 31.36% decrease from October. While Bitcoin led in overall sales, the most expensive NFT sold in November hailed from the Ethereum blockchain.
Fourteen days ago, the NFT “Uniswap V3 Positions NFT-V1 #14” was purchased for a substantial $1.66 million. Meanwhile, a “$BTCS BRC-20” NFT fetched $376K, selling just over 16 days ago, and the “Voting Token Lockup #3” from Arbitrum achieved a sale price of $300K. From Solana, the “Boogle #057” NFT was acquired for $126K, and Cardano’s “EMURGO x NMKR Cardano Summit” NFT garnered $59K, both selling just over ten days ago.
What do you think about the record-setting NFT sales in November and Bitcoin dethroning Ethereum in terms of sales over the past month? Let us know what you think in the comments section below.
Original source: Bitcoin.com