Ethereum NFT collections bring the weekly volume to $304M
Ethereum-based non-fungible token (NFT) collections have surged in the past week.
On December 21, data tracker CryptoSlam reported that Ethereum NFTs increased by 76% in a week, with sales reaching $201 million. This represents 66% of the total NFT trading volume in the last seven days.
In comparison, Bitcoin-based NFTs recorded $40 million in sales, while Solana-based collections had $29 million. Mythos Chain, Immutable, Polygon and BNB Chain had a combined weekly volume of $25.9 million.
The weekly record surpassed September's $296 million NFT sales record, and digital collections had their lowest monthly sales since 2021.
Ethereum clusters dominate NFT levels.
Last week, seven of the top 10 NFT collections by sales volume were based on Ethereum. The collection of Pudgy Penguins recorded an amount of 54.4 million dollars, making it the highest collection of the week. Meanwhile, second place went to the project's LilPudgys collection, with nearly $20 million in sales.
7 of the top 10 NFT clusters of the week were Ethereum-based clusters. Source: CryptoSlam
Azuki NFT stock increased by 130% compared to last week, recording sales of $18 million. The project's Azuki Elements Collection has seen a 226% week-over-week increase after posting $7 million in sales.
Popular NFT collections such as Doodles and CryptoPunks made it into the top 10 collections in terms of sales volumes last week. Doodles had $13 million, while Cryptpunks recorded $7.4 million.
Related: OpenSea Cayman Islands registration fuels airdrop rumors
NFTs will continue their momentum in early December.
NFT weekly volumes have been strong since early December. In the first week of the month, digital collections recorded sales of $187 million. The Pudgy Penguins collection also led the week with $25 million in sales.
While Pudgy Penguin NFTs dominate the NFT space by volume, its crypto token is doing well. On December 17, the collection's Pudgy Penguin (PENGU) token fell more than 50% after its launch. CoinGecko data shows token transactions at $0.03, about 55% lower than the record high price.
In 21 days, NFT sales for December reached $678 million, surpassing the previous month's record of $562 million. The sales record makes December NFTs' top-performing month since May, when the space saw $602 million in sales.
Magazine: The NFT Bull Market 1 True Sign On: Wale, NFT Collector
