The week ending November 6th saw NFT sales volumes reach 68,342 ETH, according to blockchain analytics company Nansen. The blockchain analytics platform Nansen reports that the weekly Ether sales volume of nonfungible tokens (NFTs) has been steadily rising.
Nansen noted that NFT sales for the week ending on October 9 were at 29,704 ETH, or roughly $56 million at the current ETH market prices, in a post on X (formerly Twitter). Weekly sales growth brought the total to 68,342 ETH, or more than $129 million.
Over the past 30 days, Blur, an NFT marketplace, has had the largest share of NFT trading volume. The data aggregator NFTGo reports that in the preceding 30 days, Blur’s trading volume was 161,433 ETH, or about $305 million. OpenSea, a rival, secured the second position with a trading volume of 52,307 ETH, or roughly $100 million.
Bored Ape Yacht Club (BAYC) had the highest trading volume over the previous 30 days in terms of NFT collections. The volume of the BAYC collection was 35,226 ETH, or about $66.7 million. The Captainz at 9,948 ETH and the Mutant Ape Yacht Club (MAYC) at 14,947 ETH followed the collection. In terms of market capitalization, CryptoPunks continued to be the best collection. However, in the previous 30 days, the collection’s trading volume was limited to 5,773 ETH.
In addition to this, NFTGo’s data revealed that the number of NFT traders increased by 12% over the previous seven days. During the same period, seller addresses were at 27,308 and buyer addresses were at 22,804. In the meantime, there were still about six million NFTs in wallets.
The news that appeared to be negative for the NFT market coincided with the rise in trading volume for NFTs. As it gets ready to release its second version, NFT marketplace OpenSea laid off half of its employees on November 3.