Ethereum's NFT Sales Volume Spikes 123% Today - Here’s What Driving Its Growth

Ethereum’s NFT Sales Volume Spikes 123% Today – Here’s What Driving Its Growth

Updated: 04 December 2023

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In the wake of the recent crypto market resurgence that has left the flagship crypto, Bitcoin, soaring above $41,000, the non-fungible token market has experienced explosive growth today. In this article, we shall assess the state of NFTs this first week of December 2023.

Ethereum NFTs Surge 123% In Sales Volume

Data fetched by CryptoSlam.io, an on-chain data aggregator, indicates that the NFT market has surged in sales volume, with Ethereum leading the charge. In the past 24 hours, the global NFT market has recorded a trading sales volume, representing an 80.56% surge from the past day.

Non-fungible tokens hosted on Ethereum dominate the NFT market this first week of December, amassing a sales volume of $26 million in the past 24 hours. During this time, Ethereum-based NFTs have soared 128% from the previous day. Ethereum NFTs reclaim NFT market dominance from Bitcoin Ordinals, which has recently crashed to zero.

Digital collectibles hosted on Solana, the decentralized blockchain network that uses a proof-of-stake consensus mechanism, are up 15% in sales volume this first week of December. In the past 24 hours, Solana-based NFTs have recorded a trading sales volume of $5.2 million.

Five Top-Selling NFTs Right Now

1. Bored Ape Yacht Club NFTs

Bored Ape Yacht Club, an NFT collection from the digital asset firm Yuga Labs that features a fixed set of 10,000 NFTs, is the second most traded NFT collection right now. In the past 24 hours, the Bored Ape Yacht Club NFT collection has recorded a trading sales volume of $4.07 million. Bored Ape NFTs are up 576% in sales volume.

2. Pudgy Penguins NFTs

Pudgy Penguins, an NFT collection featuring a limited set of 8,888 NFTs hosted on the Ethereum network, is currently the most-selling NFT collection. In the past 24 hours, the NFT collection has amassed a trading sales volume of $3.9 million. Pudgy Penguins NFT sales are up 238%.

3. Azuki NFTs

Azuki is an NFT collection from the digital asset firm Chiru Labs featuring a limited edition of 10,000 NFTs hosted on the Ethereum network. In the past 24 hours, the Azuki NFT collection has raised a trading sales volume of $2.2 million, representing a 560% spike from the previous day.

4. LilPudgy NFT Collection

LilPudgy, another NFT collection from the Pudgy Penguins team featuring a limited edition of 15,000 NFTs hosted on the Ethereum network, is the fourth most traded NFT collection. In the past 24 hours, LilPudgy has attracted a trading sales volume of $1.2 million. LilPudgy NFT collection is up 84% in sales volume.

5. Mutant Ape Yacht Club NFTs

Mutant Ape Yacht Club, an NFT collection from the digital asset firm from the digital asset firm Yuga Labs, is the fifth most traded NFT collection today. In the past 24 hours, the NFT collection has amassed a trading sales volume of $1.1 million. The surge in the five top-selling NFT collections alongside other NFTs has increased Ethereum NFT sales by 123%.