November sees a surge in NFT sales as Bitcoin overtakes Ethereum in the market.
**Bitcoin Overtakes Ethereum in Record NFT Sales Surge**
NFT sales soared in November, reaching close to $1 billion in transactions, with a staggering 129.01% increase in sales volume compared to October. This increase in sales was largely attributed to a surge in Ordinal inscription minting and trading activities on the Bitcoin network.
**Bitcoin Takes the Lead**
Sales originating from the Bitcoin blockchain surpassed those from Ethereum in November. BTC-based NFT sales reached $382.88 million, exceeding Ethereum’s sales by $20.32 million. This shift marked a significant milestone, with Bitcoin experiencing a 1,928.65% surge in NFT sales compared to the previous month. Meanwhile, Ethereum’s sales also grew, registering a 57.28% increase over the sales in October.
**Solana’s Significant Boost and Top Performers**
In November, Solana’s NFT sales experienced a substantial boost, soaring by 190.11% to reach $86.99 million. Bitcoin led the month with the “$SATS BRC-20” collection, amassing $93.44 million, a 974% increase from the previous month. Ethereum’s Bored Ape Yacht Club (BAYC) ranked third in November with sales of $43.36 million, marking an 88.66% increase. Cryptopunks claimed the fourth spot, achieving $29 million in transactions, a rise of 169.61%.
**High-Value NFT Sales**
The most expensive NFT sold in November came from the Ethereum blockchain, with the NFT “Uniswap V3 Positions NFT-V1 #14” being purchased for $1.66 million. Additionally, a “$BTCS BRC-20” NFT fetched $376K, and the “Voting Token Lockup #3” from Arbitrum achieved a sale price of $300K. From Solana, the “Boogle #057” NFT was acquired for $126K, and Cardano’s “EMURGO x NMKR Cardano Summit” NFT garnered $59K.
**Final Thoughts**
November saw a remarkable surge in NFT sales, with Bitcoin surpassing Ethereum in terms of sales volume, marking a significant shift in the market. With NFTs continuing to capture the attention of buyers and sellers, it remains to be seen how this trend will evolve in the coming months. Do let us know your thoughts on this record-setting month for NFT sales and the shift from Ethereum to Bitcoin in the comments section below.
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