Ethereum Leads NFT Market Recovery with November Sales Surging to $562 Million

According to a recent report by Cointelegraph, the recovery in Ethereum prices has positively impacted the NFT market, with November’s sales surpassing $562 million. This represents an impressive increase of 57.8% compared to October’s figures of $356 million. Notably, Ethereum-based NFT sales contributed over $216 million, marking a 12% rise from the previous month. However, it should be noted that the overall monthly NFT transaction volume remains significantly below its peak, which reached an astounding $1.6 billion in March of 2024. Furthermore, data from CryptoSlam highlights that CryptoPunks dominated the market in November, achieving a remarkable sales volume exceeding $49 million, a staggering 392% month-on-month increase with 388 transactions, up 213% from October. Additionally, the Pudgy Penguins collection also saw substantial growth, with a 262% increase in sales volume, totaling $16 million.