CandleFocus NFT market rebounds with 22% volume surge in November despite declining sales, data shows
2024-12-06
Author: Content Editor
The NFT market is showing signs of recovery, with a 22% increase in trading volume in November. The surge is attributed to increased engagement with blue-chip collections, rising token prices, improved liquidity, and growing confidence among investors. Despite the growth in trading volume, sales volume declined, suggesting a shift towards more valuable transactions. The recovery in the NFT market aligns with broader market trends, as the overall market value grew to $8.8 billion and daily trading volume across all chains rose by almost 50%. Ethereum remains the leader in trading volume, while Polygon holds the top position for the number of NFT sales. The rise of marketplaces like Blur also highlights the evolving NFT landscape.
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