Bitcoin Surpasses Ethereum in November NFT Sales Surge
NFT sales saw a significant surge in November, with a staggering 129.01% increase in sales volume compared to October, reaching close to $1 billion in transactions. This marks a significant shift in the NFT market, with sales originating from the Bitcoin blockchain surpassing those from Ethereum.
Bitcoin Climbs Past Ethereum
In what can be described as a vibrant month in NFT sales, the total sales volume for November reached $944.33 million. This figure represents a notable increase compared to the $412 million in sales observed in October. However, despite this upsurge, November saw a decline of 20.16% in buyer participation, while seller numbers fell by 18.90%, according to cryptoslam.io statistics.
Bitcoin’s NFT sales reached $382.88 million, exceeding Ethereum’s sales by $20.32 million, which totaled $362.56 million. This shift marks a significant milestone, with Bitcoin’s NFT sales witnessing a significant 1,928.65% surge compared to October’s figures, while Ethereum’s sales grew by 57.28%.
Solana Skyrockets, Ethereum Suffers Decrease
In addition to the Bitcoin and Ethereum sales surge, other blockchain platforms also experienced notable shifts in NFT sales. Solana’s NFT sales saw a significant boost, soaring by 190.11% to reach $86.99 million. On the other hand, Polygon saw a decrease of 33.90%, recording $26.78 million in sales volume.
BTC Dominates NFT Collections
Bitcoin’s dominance in NFT sales was further solidified by the performance of NFT collections. The “SATS BRC-20” collection from Bitcoin led with sales of $93.44 million, a staggering 974% increase from the previous month. The “$RATS BRC-20” collection secured the second position, with sales of $45.58 million, and a massive 4,768,571% increase compared to the previous month.
Ethereum Reigns in Expensive NFT Sales
While Bitcoin dominated in overall sales, the most expensive NFT sold in November hailed from the Ethereum blockchain. The NFT “Uniswap V3 Positions NFT-V1 #14” was purchased for a substantial $1.66 million, demonstrating the continued significance of Ethereum in the NFT market.
The NFT market in November showcased a significant shift in sales volume, with Bitcoin taking the top spot and surpassing Ethereum in NFT sales. As the NFT market continues to evolve, the dynamics of blockchain platforms and the performance of NFT collections will continue to shape the industry.
I have been a full-time professional writer for over 10 years, and have written for some of the biggest publications in the world. My work revolves around cryptocurrencies and blockchain technology, and I am widely considered to be one of the leading experts in these fields.I have written two books on the subject matter, and my articles have been featured in major news outlets such as The Wall Street Journal, Forbes, and Huffington Post. In addition to writing, I also give talks and seminars on cryptocurrency investing, and am a regular commentator on CNBC, Bloomberg, and other financial news networks.
