NFTs start December with $187M weekly sales volume
Non-fungible tokens (NFTs) began strongly in December, with Ethereum main the highest digital collectible blockchains in gross sales.
On Dec. 8, NFT knowledge tracker CryptoSlam reported that digital collectibles recorded greater than $187 million in weekly gross sales quantity throughout the first week of December, persevering with an upward pattern that started in October. The opening week of December outpaced the strongest week in November, which noticed $181 million in NFT gross sales.
NFT volumes have decreased since March earlier than reaching their lowest level in September, when NFTs recorded their worst monthly sales volume since 2021. Nonetheless, the asset class recovered in October. This was adopted by a 57% month-on-month enhance as NFTs saw sales volume of over $562 million in November.
Ethereum leads prime NFT blockchains with $92 million gross sales
Ethereum recorded $92 million in NFT gross sales final week, a 44.69% enhance from the prior week. The surge was pushed by fashionable NFT collections like Pudgy Penguins and CryptoPunks, which posted sturdy performances.
In accordance with CryptoSlam, Pudgy Penguins recorded $25 million in gross sales, marking a 346% enhance from the earlier week. Information from DefiLlama exhibits the gathering’s flooring worth climbed from 13 Ether (ETH) on Nov. 30 to twenty.9 ETH, valued at roughly $83,000 as of Dec. 8.
CryptoPunks ranked second amongst NFT collections, recording $16.5 million in weekly gross sales. The gathering’s flooring worth briefly rose to 44 ETH on Dec. 4 earlier than settling at 40 ETH, value about $160,000 on Dec. 8.
Bitcoin-based NFTs adopted Ethereum within the second spot, recording $43.8 million in gross sales. In the meantime, Solana, Immutable, Mythos Chain, Polygon, Cardano and Circulate had a mixed weekly gross sales quantity of $47 million.
Ethereum worth breaks above $4,000
Ethereum’s NFT surge coincided with a worth breakout for ETH. On Dec. 6, Ethereum surged above $4,000, reaching a excessive of $4,067 on Dec. 6.
One analyst instructed that ETH may very well be on the verge of a paradigm shift, predicting a possible rally just like its explosive development between 2016 and 2017. The analyst forecasted that ETH might attain as excessive as $15,000.
