Non-fungible tokens (NFTs) started strongly in December, with Ethereum leading the top digital collectible blockchains in sales.
On Dec. 8, NFT data tracker CryptoSlam reported that digital collectibles recorded more than $187 million in weekly sales volume during the first week of December, continuing an upward trend that began in October. The opening week of December outpaced the strongest week in November, which saw $181 million in NFT sales.
NFT volumes have decreased since March before reaching their lowest point in September when NFTs recorded their worst monthly sales volume since 2021. However, the asset class recovered in October. This was followed by a 57% month-on-month increase as NFTs saw sales volume of over $562 million in November.
Ethereum leads top NFT blockchains with $92 million sales
Ethereum recorded $92 million in NFT sales last week, a 44.69% increase from the prior week. The surge was driven by popular NFT collections like Pudgy Penguins and CryptoPunks, which posted strong performances.
According to CryptoSlam, Pudgy Penguins recorded $25 million in sales, marking a 346% increase from the previous week. Data from DefiLlama shows the collection’s floor price climbed from 13 Ether (ETH) on Nov. 30 to 20.9 ETH, valued at approximately $83,000 as of Dec. 8.
CryptoPunks ranked second among NFT collections, recording $16.5 million in weekly sales. The collection’s floor price briefly rose to 44 ETH on Dec. 4 before settling at 40 ETH, worth about $160,000 on Dec. 8.
Top NFT collections by seven-day sales volumes. Source: CryptoSlam
Bitcoin-based NFTs followed Ethereum in the second spot, recording $43.8 million in sales. Meanwhile, Solana, Immutable, Mythos Chain, Polygon, Cardano and Flow had a combined weekly sales volume of $47 million.
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Ethereum price breaks above $4,000
Ethereum’s NFT surge coincided with a price breakout for ETH. On Dec. 6, Ethereum surged above $4,000, reaching a high of $4,067 on Dec. 6.
One analyst suggested that ETH could be on the verge of a paradigm shift, predicting a potential rally similar to its explosive growth between 2016 and 2017. The analyst forecasted that ETH could reach as high as $15,000.
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