In October, the #NFT market experienced a notable resurgence with a 32% increase in trading volume compared to the previous month, reaching $405 million, according to data from #DappRadar . This surge represents a shift from a year-long downward trend and offers hope to NFT projects that have faced challenges throughout the year. The recovery coincided with Bitcoin's price rebounding above $35,000, likely driven by anticipation of a spot #bitcoinetf approval in the US.

Solana's NFT trading volume on its high-speed blockchain grew by 15%, and its price surged by 65% in October. #Ethereum remained a dominant player in NFT trading, with a 50% increase in trading volume across various blockchains.

While this uptick is encouraging, it's essential to note that October's trading volume of $405 million is still significantly lower than the $2 billion in NFT sales in March. NFT sales also declined in October, with the total number of NFTs sold decreasing by 5% compared to September. However, this decline was less severe than the drop observed in August.