Odaily Planet Daily reported that Galaxy Research stated in a report on Monday that the NFT market is showing signs of recovery. With the U.S. elections and the subsequent rebound in the cryptocurrency market, the NFT market has been on the rise since November. The report noted that for the first time since May, the weekly trading volume of NFTs exceeded $100 million at the beginning of November and reached $172 million on December 2; this recovery was primarily driven by increased activity in the top 25 NFT collections by market capitalization, with participation from major market platforms such as OpenSea, Blur, and Magic Eden also on the rise. Over the past 30 days, Blur and OpenSea accounted for 60% and 27% of the total trading volume, respectively. NFTs related to the Pudgy Penguins ecosystem performed particularly well, with the floor prices of the Pudgy Penguins and Lil Pudgys collections rising by 206% and 265%, respectively. (Coindesk)

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