Key Points
- ETH, SOL, and BTC’s NFT sales volume decreased significantly in the past 30 days.
- The NFT market capitalization experienced a $100 million drop in November.
October saw a significant increase in the NFT ecosystem’s traction, following several winter months.
This led to further investigation into the performance of top NFT blockchains in the past month.
October’s NFT Performance
Ayo Creator, Pictodl’s CEO and a crypto influencer, tweeted that NFTs had a rebound in October, with a monthly volume of $356 million.
This was an 18% increase compared to the previous month, and total transactions also surged to 7.2 million, a 42% rise.
These numbers suggested a potential new NFT summer.
An analysis of Cryptoslam’s data showed that Ethereum’s [ETH] number of buyers only increased by 3% last month.
However, the rest of the metrics were not as promising, with sales volume and number of transactions dropping by 33% and 60% respectively.
Solana’s [SOL] situation was even worse, with its sales volume and transactions dipping by 22% and 18%.
Moreover, the number of NFT buyers and sellers for SOL also dropped by 25% and 17% in the last 30 days.
Bitcoin’s NFT Performance
Bitcoin’s [BTC] metrics also decreased, indicating that these top players did not contribute significantly to the rise in overall NFT numbers in October.
The top performing collections on each of the blockchains in the last 30 days were also examined.
Bored Ape Yacht Club topped the list for Ethereum, Frogana for Solana, and Bitcoin Puppets for Bitcoin.
The overall NFT ecosystem’s performance in November was also analyzed.
According to NFTGo’s data, the NFT market capitalization experienced a sharp drop in November, decreasing by nearly $100 million within a few days.
Additionally, the number of traders fell, while the number of long-term holders continued to rise.
