cryptojournalist
Ethereum-based NFT collections have surged, pushing weekly digital collectible sales to $304 million, a significant boost for the market.
Ethereum Dominates the NFT Market
CryptoSlam reported on Dec. 21 that Ethereum NFTs saw a 76% increase in sales, reaching $201 million in volume, which accounts for 66% of all NFT sales for the week.
Bitcoin NFTs: $40 million in sales.
Solana NFTs: $29 million.
Other Chains: Mythos, Immutable, Polygon, and BNB Chain combined for $25.9 million.
This weekly performance even surpassed September’s $296 million, the lowest monthly NFT sales since 2021.
Top Ethereum Collections of the Week
Seven of the top 10 NFT collections by sales volume were Ethereum-based:
Pudgy Penguins: $54.4 million, leading the charts.
LilPudgys: $20 million, securing second place.
Azuki: $18 million, a 130% increase from the previous week.
Azuki Elementals: $7 million, a 226% surge.
Doodles: $13 million.
CryptoPunks: $7.4 million.
December’s Strong NFT Momentum
NFT sales have been robust throughout December, starting with $187 million in the first week. Pudgy Penguins led that week with $25 million in sales.
By Dec. 21, monthly NFT sales hit $678 million, already surpassing November’s $562 million and making December the best month since May’s $602 million.
Pudgy Penguins Token Struggles
While Pudgy Penguins NFTs dominate the market, their crypto token (PENGU) hasn’t fared as well. After launching on Dec. 17, PENGU dropped by over 50%, trading at $0.03, down 55% from its peak, according to CoinGecko.
GIPHY App Key not set. Please check settings