Sales of non-fungible tokens (NFTs) saw a notable increase in November, with a 129.01% increase in sales volume compared to October. Additionally, NFTs created on the Bitcoin blockchain surpassed those on Ethereum in terms of sales last month. This shift can be attributed to a marked increase in Ordinal inscription coin and trading activity on the Bitcoin network in recent times.
Bitcoin Climbs Past Ethereum in Staggering NFT Sales Surge in November
NFTs enjoyed a brisk month of sales over the past 30 days, reaching nearly $1 billion in transactions, with an exact figure of $944.33 million. This figure represents a slight increase, just above 129%, compared to October’s revenue of $412 million. However, despite this increase, November saw a 20.16% drop in buyer participation, while the number of sellers dropped by 18.90%, as reported by cryptoslam.io statistics.
This month marked a significant shift with sales coming from the Bitcoin blockchain surpassing those from Ethereum. In the past 30 days, BTC-based NFT sales reached $382.88 million, surpassing Ethereum’s sales by $20.32 million, which totaled $362.56 million. Bitcoin NFT sales witnessed a significant increase of 1,928.65% compared to October figures. Meanwhile, Ethereum’s revenue also grew, up 57.28% from October’s revenue.
Bitcoin took the top spot in monthly NFT sales in November.
In November, Solana’s NFT sales saw a significant increase, rising 190.11% to $86.99 million. Conversely, Polygon saw a decline of 33.90%, with sales volume of $26.78 million, while Mythos saw a decline of 30.32%, with sales volume of $25.66 million. BTC dominated the month, leading with the “$SATS BRC-20” collection, which earned $93.44 million, up 974% from the previous month. Bitcoin’s “$RATS BRC-20” collection secured the second position, with $45.58 million in revenue.
The $RATS BRC-20 collection shot up by a whopping 4,768,571% compared to the previous month. Ethereum’s Bored Ape Yacht Club (BAYC) ranked third in November with $43.36 million in revenue, up 88.66%. Cryptopunks claimed the fourth spot, completing $29 million in transactions, an increase of 169.61%. Mythos’ Dmarket revenue was $25.10 million, down 31.36% from October. While Bitcoin led the way in overall sales, the most expensive NFT sold in November came from the Ethereum blockchain.
A fortnight ago, the NFT “Uniswap V3 Positions NFT-V1 #14” was purchased for a significant $1.66 million. Meanwhile, a “$BTCS BRC-20” NFT fetched $376K, sold just over 16 days ago, and Arbitrum’s “Voting Token Lockup #3” achieved a sale price of $300K. Solana’s “Boogle #057” NFT was purchased for $126,000, and Cardano’s “EMURGO x NMKR Cardano Summit” NFT fetched $59,000, both sold just over ten days ago.
What are your thoughts on November’s record-breaking NFT sales and Bitcoin dethroning Ethereum in terms of sales in the past month? Let us know what you think in the comments below.