Bitcoin Overtakes Ethereum in November NFT Sales Surge
NFT sales saw remarkable growth in November, with a staggering 129.01% increase in sales volume compared to the previous month. The total sales reached close to $1 billion at $944.33 million. The surge in sales was driven by an increase in Ordinal inscription minting and trading activities on the Bitcoin blockchain, which led BTC-based NFT sales to surpass those on Ethereum.
Bitcoin Surpasses Ethereum in NFT Sales
In November, Bitcoin-based NFT sales reached $382.88 million, surpassing Ethereum’s sales by $20.32 million, which amounted to $362.56 million. This shift in dominance marked a significant milestone for Bitcoin as it witnessed a massive 1,928.65% surge in NFT sales compared to October. Meanwhile, Ethereum’s NFT sales also grew by 57.28% over the previous month.
Other Blockchain NFT Sales
Solana’s NFT sales experienced a significant boost, soaring by 190.11% to reach $86.99 million in November. However, Polygon saw a decrease of 33.90%, with $26.78 million in sales, while Mythos recorded a 30.32% drop, amounting to $25.66 million in sales volume. Among these blockchain platforms, BTC led with the “$SATS BRC-20” collection, amassing $93.44 million, a 974% increase from the previous month. The “$RATS BRC-20” collection from Bitcoin secured the second position, garnering $45.58 million in sales.
Top NFT Sales in November
Among the top-selling NFTs in November, the “$RATS BRC-20” collection from Bitcoin skyrocketed by a massive 4,768,571% compared to the previous month. Ethereum’s Bored Ape Yacht Club (BAYC) ranked third in November with sales of $43.36 million, marking an 88.66% increase. Cryptopunks claimed the fourth spot, achieving $29 million in transactions, a rise of 169.61%. The most expensive NFT sold in November hailed from the Ethereum blockchain, with the “Uniswap V3 Positions NFT-V1 #14” fetching a substantial $1.66 million.
Significant NFT Sales
A “$BTCS BRC-20” NFT from Bitcoin fetched $376K, while the “Voting Token Lockup #3” from Arbitrum achieved a sale price of $300K. From Solana, the “Boogle #057” NFT was acquired for $126K, and Cardano’s “EMURGO x NMKR Cardano Summit” NFT garnered $59K.
Overall, Bitcoin’s dominance in NFT sales and the remarkable surge in sales volume in November have reshaped the landscape of NFT trading. The shift in dominance from Ethereum to Bitcoin has raised discussions among experts and enthusiasts, sparking debates on the future trajectory of NFT sales and the impact on the broader cryptocurrency market. Share your thoughts on these record-setting NFT sales in the comments section below.
I have over 10 years of experience in the field of cryptocurrency and blockchain technology. I have attended numerous conferences and events around the world, and my work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and Yahoo Finance.
