he NFT market witnessed a significant rise in 2024, with a total sales volume reaching $8.8 billion, showcasing a $100 million increase from 2023. Ethereum, Bitcoin, and Solana led the blockchain scene, with notable sales spikes and standout collections like Pudgy Penguins driving the market’s momentum.
This week witnessed a sharp increase in Ethereum NFT sales, topping $300 million with standout collections like Pudgy Penguins and Azuki. Concurrently, two young Californians were charged with engaging in NFT related frauds amounting to $22 million. Additionally, a retrospective look at 2024 reveals significant resilience in the NFT market amidst various challenges.
The NFT market witnesses a significant sales spike of 16.36%, totaling $224.5 million, amid fluctuating cryptocurrency values. Notably, Pudgy Penguins leads with sales escalating by 50%, while Ethereum remains the dominant blockchain network.
Solana (SOL) is gaining traction, trading around $226.74 with positive signs for further growth. Boosted by dApps and NFTs activity, alongside favorable economic trends, SOL is on the verge of a breakout with a $264 target in sight and an optimistic projection of reaching $300.
Observing a significant surge in November 2024, the NFT market’s sales volume increased by 57.8%, indicating a robust uptick in interest during the broader recovery of the cryptocurrency sphere, led by blue-chip collections and a varied blockchain ecosystem.
Despite a minor weekly setback, the NFT market progresses strongly in November, with Ethereum and Solana leading in sales and buyer count, respectively.
Ethereum’s value jumps over 4% amid a shift in market dynamics, with increased buying and the potential for a significant price rally if it holds above key resistance levels.
NBA star Shaquille O’Neal has agreed to an $11 million settlement to resolve a lawsuit over his involvement with the Astrals NFT collection. The settlement addresses allegations of promoting unregistered securities and aims to compensate investors for their losses.
Weekly NFT sales volume surges 22.5% to $93 million, with Ethereum outperforming Bitcoin in sales volume and buyer activity doubling across the market.
The NFT market shows signs of recovery with weekly sales volumes approaching $85 million, marking the highest level since August. Increases in both prices and transaction numbers across various blockchains accompany this surge.
