An explosive November for NFTs: with meteoric growth of 114%, the average transaction value increased from $126 to $270, approaching $1 billion in trading volume. NFTs are part of the skyrocketing crypto market. Experts predict a continuation of this trend in the coming months, according to the DappRadar report.
A 125% increase in NFT trading volume
We have noticed an upward trend in crypto for some time. Non-fungible tokens (NFTs) are starting to join this trend as well. Indeed, according to data published by DappRadar, NFT trading volume approached $1 billion in November. The average transaction value increased from $126 to $270, an increase of 114%. THE report indicates that the non-fungible token industry maintains its upward movement for the second consecutive month.
In November, trading volume increased by 125%. This suggests a change in user behavior from previous declines in non-fungible token transactions.
Then, according to the analytics company Nansen, NFT sales volumes increased every week in October. Sales increased from $56 million the week of October 9 to $129 million the week of November 5.
Continuation of the upward trend across the entire crypto sector?
Web3 experts anticipate a continuation of this trend in the coming months. For example, Jonathan Perkins, co-founder of SuperRare, confides in an interview that the worst is behind us, the situation is gradually improving.
The DappRadar report highlights the significant increase in daily unique active wallets (UAW) in blockchain gaming, thus reinforcing the crucial role of this sector in the decentralized crypto ecosystem.
On-chain gaming UAW grew by 14%, leading the market at 34% in the DApps industry. According to DappRadar, the domain remains a fundamental pillar of the crypto ecosystem. Despite a mixed year, blockchain games managed to attract $2.3 billion in investments since January 2023 through October. In this month of December, the entire crypto and blockchain sector seems to be maintaining remarkable performance.
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