The NFT market is heating up again with the recovery of the broader cryptocurrency market. According to CoinGecko data from December, the total market cap of the sector has reached $8.8 billion, a growth of 17.3% from a week ago. NFT sales have also risen significantly, with November NFT sales amounting to approximately $562 million, an increase of 57% compared to October, making it the highest sales month in the last six months.
Source: CryptoSlam
However, in terms of the number of traders, the number of independent NFT buyers in November decreased by about 31% to 664,405 compared to the previous month, significantly down from over 1 million in May this year. The number of independent sellers decreased by 30% to 429,020. The total number of NFT transactions was approximately 5.33 million, a decrease of about 26% compared to the previous month.
Blue-chip NFT performance
The popular NFT series CryptoPunks also set impressive records in November. According to DefiLlama data, the floor price of CryptoPunks was 26.3 ETH at the beginning of November, rising to 39.7 ETH by November 30, worth approximately $147,000.
CryptoSlam data also shows that CryptoPunks had sales exceeding $49 million in the past 30 days, a growth of 392% compared to the previous month. The NFT recorded 388 transactions in November, increasing by 213% compared to October.
Aside from CryptoPunks, Pudgy Penguins also performed notably in November. The series' monthly sales grew 262% compared to the previous month, reaching $16 million. Its floor price increased from 8.7 ETH at the beginning of November to 13 ETH by November 30, worth approximately $48,000, a rise of 49%.
Ethereum led other blockchains this month with over $216 million in sales, an increase of 12% compared to October. In terms of growth percentage, Bitcoin performed the best among major NFT blockchains, with sales of $186 million in November Ordinals inscriptions, soaring 99.44% compared to October.
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