Ethereum-based non-fungible token (NFT) collections saw a significant increase last week, pushing the weekly trading volume of these digital assets to 304 million USD.
On December 21, the data tracking tool CryptoSlam reported that Ethereum NFTs experienced a 76% increase compared to the previous week, reaching a trading volume of 201 million USD. This figure accounts for 66% of the total NFT trading volume in the past seven days.
Meanwhile, Bitcoin-based NFTs recorded sales of 40 million USD, while Solana-based collections achieved 29 million USD. Mythos Chain, Immutable, Polygon, and BNB Chain collectively reached a weekly trading volume of 25.9 million USD.
This weekly record also surpassed the 296 million USD mark from September, a time when digital collections reached their lowest monthly trading volume since 2021.
Ethereum collections dominate the NFT rankings
Last week, seven of the top 10 NFT collections by trading volume were based on Ethereum. The Pudgy Penguins collection recorded a volume of 54.4 million USD, becoming the top collection of the week. Meanwhile, the second position belongs to this project's LilPudgys collection, which recorded nearly 20 million USD in sales.
Seven of the top 10 NFT collections of the week are Ethereum-based collections. Source: CryptoSlam
Azuki collection surges 130% compared to last week, recording sales of 18 million USD. The Azuki Elementals collection from this project also increased by 226% week-on-week, after reaching a trading volume of 7 million USD.
Popular NFT collections like Doodles and CryptoPunks also made it to the top 10 collections by trading volume last week. Doodles had 13 million USD, while CryptoPunks recorded a volume of 7.4 million USD.
NFTs continue their growth momentum since the beginning of December
Weekly NFT volume has been strong since the beginning of December. These digital assets recorded 187 million USD in sales in the first week of the month. The Pudgy Penguins collection also led the week with a trading volume of 25 million USD.
Although Pudgy Penguins NFTs dominate trading volume in the NFT space, its cryptocurrency token has performed less effectively. On December 17, the Pudgy Penguins (PENGU) token of this collection dropped more than 50% after its launch. Data from CoinGecko shows this token is trading at 0.03 USD, down about 55% from its peak price.
In just 21 days, the December NFT trading volume reached 678 million USD, surpassing the previous record of 562 million USD from the previous month. This sales record also made December the best-performing month for NFTs since May, when the space achieved sales of 602 million USD.
