NFTs begin December with $187M weekly sales volume
Non-perishable tokens (NFTs) got off to a strong start in December, with Ethereum leading the top digital collectible blockchain in sales.
On December 8, NFT data tracker CryptoSlam showed that digital collections recorded weekly sales of more than $187 million in the first week of December, continuing their upward trend since October. The week that began in December surpassed digital collectors' strongest week in November, when NFTs saw $181 million in sales.
NFT volumes have declined since March before reaching their lowest point in September, when NFTs saw their lowest monthly sales volume since 2021. But part of the property was returned in October. NFTs saw a volume of over $562 million in November, a 57 percent month-on-month increase.
Ethereum leads the top NFT blockchains with $92 million in sales.
Ethereum's weekly sales volume has recorded more than 92 million dollars, which shows an increase of 44.69% from the previous week. The increase in network volume was driven by high volume NFT collections such as Pudgy Penguins and CryptoPunks recording strong sales.
According to CryptoSlam, Pudgy Penguin recorded $25 million in sales, a 346 percent increase from last week. According to Defillama data, the floor price of the collection increased from 13 Ether (ETH) on November 30 to 20.9 ETH, which is about 83,000 on December 8.
Meanwhile, CryptoPunks followed Pudgy Penguin, taking the top 2 spot for the week. The collection grossed $16.5 million for the week. The floor price briefly rose to 44 ETH on December 4 before returning to 40 ETH, which reached $160,000 on December 8.
High NFT concentrations in seven-day trading volumes. Source: CryptoSlam
Bitcoin-based NFTs followed Ethereum in the top 2 spot, recording $43.8 million in sales. Meanwhile, Solana, Immutable, Mythos Chain, Polygon, Cardano and Flow had weekly sales of $47 million.
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Ethereum price breaks above $4,000.
Ethereum's NFT surge occurred amid ETH's price divergence. On December 6, Ethereum rose above $4,000, reaching a high of $4,067 on December 6.
One analyst believes that ETH is approaching a paradigm shift. The trader predicted that the asset could repeat the boom in 2016-2017 when it reached new highs. The analyst predicted that ETH could reach $15,000.
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